Wall Street Prepares for Micron Technology’s Earnings Report
Micron Technology is poised for a potentially significant day as it prepares to release its fiscal second-quarter results after the market closes on Thursday. Historically, the company has experienced extreme fluctuations following earnings announcements. In 2025, Micron’s share price has risen approximately 22%, notably outperforming the overall market, which has seen declines during the same timeframe.
Volatile Stock Performance
Micron is recognized as one of the most volatile stocks in the semiconductor industry. For instance, its shares jumped 14.7% on September 26 after the company provided a more optimistic revenue forecast than anticipated. However, the stock later plummeted by around 14% in December following disappointing second-quarter guidance. According to FactSet, Micron has a beta of about 2, indicating higher price volatility compared to the market’s beta of 1.
Analysts Maintain an Upbeat Outlook
Despite the volatility, analysts continue to express optimism regarding Micron’s future, predicting sustained strength in the chips sector as pricing and demand are expected to improve later in the year. Out of 39 analysts covering Micron, 34 have given it a strong buy or buy rating, according to LSEG.
Citi’s Perspective
Citi reiterated its buy rating and set a price target of $150. Analyst Christopher Danely forecasts “decent results” but anticipates the company will provide guidance that falls below market expectations. He remains optimistic about Micron’s dynamic random access memory (DRAM) pricing recovery in the second quarter, which could provide a significant upside of approximately 47% from Wednesday’s closing price.
Wells Fargo’s Optimism
Wells Fargo analyst Aaron Rakers maintains an overweight position with a $130 price target. He suggests that a recovery in inventory levels in the latter half of the year will enhance Micron’s competitive edge in the DRAM and NAND markets. Rakers believes that the company offers an attractive risk/reward scenario as it navigates expected inventory normalization in consumer markets.
JPMorgan’s Forecast
According to JPMorgan analyst Harlan Sur, Micron’s upcoming results should generally align with consensus expectations. Sur highlights that strong pricing trends in DRAM and ongoing demand for high-bandwidth memory (HBM) could contribute positively to Micron’s future performance. He shares similar enthusiasm for Micron’s opportunities within the AI sector, citing sustained robust demand for HBM driven by AI investments.
Other Analyst Ratings
UBS analyst Timothy Arcuri maintains a buy rating with a target price of $125, noting potential offsetting factors for expected declines in NAND sales due to strong HBM shipments. Meanwhile, Stifel’s Brian Chin is forecasting recovering NAND pricing from the second quarter, though he has revised down third-quarter estimates due to ongoing pricing weakness. Chin expects Micron’s revenue and margins to expand again by the fourth quarter of 2025.
