David Paul Morris, Bloomberg via Getty Images
What you need to know
- Micron Technology will report its earnings on Wednesday after the close of markets.
- All but one of the analysts who follow Micron and are tracked by Visible Alpha have a "buy" or equivalent rating for the chipmaker.
- Micron is expected to post a revenue increase of 84% and a return to profitability.
Micron Technology is expected to announce its fiscal 2025’s first-quarter results after the close of Wednesday markets. The stock has been rated highly by analysts.
All but one of the 15 analysts who follow the company and are tracked by Visible Alpha have a "buy" or equivalent rating for Micron, with a consensus price target of roughly $142—a close to 40% premium over Friday's closing price of $102.50.
Wall Street is expecting Micron to announce revenue of $8.72 Billion, an 84% increase year over year. The company will also report a profit $1.84 Billion or $1.58 Per Share, as opposed to $1.23 Billion or $1.12 Per Share a year ago.
The Results of the $6 Billion Federal Grant Award
Results come a few days after Micron received a grant from the federal government of $6.165billion to manufacture semiconductors here in the U.S., as part of CHIPS and Science Act of 2020.
Commerce Department stated that money will be allocated to Micron. “two-decade vision” To invest about $100 billion dollars in New York State and $25 billion dollars in Idaho to build new factories, which will generate approximately 20,000 jobs.
Micron’s shares have risen over 4% since Friday. They are now up around 20% in value from the start of this year.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
