Micron Q3 2023 earnings on deck, what to expect
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Memory chipmaker Micron (NASDAQ:MU) is scheduled to announce Q3 earnings results on Wednesday, June 28th, after market close.
The consensus EPS estimate is -$1.57 and the consensus revenue estimate is $3.68 billion.
Over the last 2 years, MU has beaten EPS estimates 75% of the time and has beaten revenue estimates 50% of the time.

Over the last 3 months, EPS estimates have seen 0 upward revisions and 26 downward. Revenue estimates have seen 7 upward revisions and 19 downward.
The company on March 28 reported Q2 Non-GAAP EPS of -$1.91, missing estimates by $1.03. Revenue of $3.69 billion came below expectations by $20 million.
MU has a Quant rating of "HOLD", with a 3.17 rating score.
MU has an industry ranking of 29 out of 68 among semiconductors stocks, as per SA's Quant ranking.
Wall Street analysts rate the MU stock "BUY" and Seeking Alpha authors rate it "HOLD".
MU stock fell 47.7% in 2022, while the benchmark S&P 500 index slipped nearly 20% for the year.
Stock is up 30.2% so far this year as of Monday's close.

Recent analysis on MU:
"Micron Technology, Inc. should get a major boost from Generative AI opportunities, which need 5-6 times more memory than traditional applications. Despite short-term headwinds off falling ASPs, the cyclical semiconductor memory industry is close to its trough from where it should rebound strongly. Micron, the largest U.S. manufacturer of memory semiconductors, is currently undervalued and close to the bottom of this cycle. Micron is worth buying and holding for at least two years," writes Seeking Alpha contributor Fountainhead.
"Micron Technology, Inc. stock performance has been mediocre compared to Nvidia Corporation's, but joint demand economics suggest potential growth opportunities. AI applications require more memory chips, which could positively impact Micron's results for Graphics and Compute/Network areas in FQ3-24. Despite potential revenue loss from China, there is still upside potential for Micron, but investors should pay attention to earnings and guidance," writes SA contributor Chetan Woodun.
Other analysis - Micron: Late To The Game AI Strategy And Politics Do Not Make For A Strong Company by Robert Castellano, leader of the Investing Group "Semiconductor Deep Dive" on Seeking Alpha.
Recent news on MU:


Micron announces new India chip facility with investment up to nearly $2.8B.

Micron slips after it says half of China revenue at risk.

Micron said to plan $604M investment in China facility; nears $1B deal for India plant.