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Based on total page views over the last 7 trading days
AAPL
Apple
#1
MU
Micron Technology
#2
NVDA
NVIDIA
#3
AVGO
Broadcom
#4
SNDK
Sandisk Corporation
#5
PLTR
Palantir Technologies
#6
MRVL
Marvell Technology
#7
Based on page view growth over the last 3 trading days
PRTH
Priority Technology
Views 428.78%
ACN
Accenture
Views 181.25%
NEM
Newmont
Views 178.90%
HPE
Hewlett Packard
Views 153.25%
SPCX
Space Exploration Technologies Corp.
Views 150.43%
TXN
Texas Instruments
Views 116.55%
JBL
Jabil
Views 106.01%
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Anirudha Bhagat
MU NVDA AVGO TSM
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Micron Technology, Inc. (MU – Free Report) will report third-quarter fiscal 2026 results after market close on June 24.
The company projects fiscal third-quarter revenues to be $35.5 billion (+/- $750 million). The Zacks Consensus Estimate for the top line is pegged at $34.8 billion, which implies year-over-year growth of 274.2%.
Micron Technology estimates adjusted earnings of $19.15 (+/-40 cents). The consensus mark for the bottom line has been revised upward by 38 cents to $19.72 per share over the past 30 days, which indicates a year-over-year improvement of 932.5%.
Image Source: Zacks Investment Research
The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21.74%.
Micron Technology, Inc. price-eps-surprise | Micron Technology, Inc. Quote
Our proven model predicts an earnings beat for Micron Technology this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
MU’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate ($20.87 per share) and the Zacks Consensus Estimate ($19.72 per share), is +5.81%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
MU’s Zacks Rank: Micron Technology sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Micron Technology’s third-quarter results are poised to reflect a significant boost from the growing demand for memory chips, fueled by the increasing adoption of graphics processing unit (GPU)-enabled artificial intelligence (AI) servers. As data center operators expand their infrastructure to support generative AI and large language models, memory chips have become essential components. This surge in demand for AI-driven technologies is likely to have bolstered Micron Technology’s revenues during the quarter under review.
Another positive factor is the improving supply-demand dynamics in the memory chip market. For several quarters, MU faced headwinds from excess inventory across various sectors, which heavily impacted its financial results. However, conditions have improved over the past year, which has resulted in improvements in prices for its DRAM chips. According to the Zacks Consensus Estimate, DRAM revenues for the third quarter are expected to hit $26.27 billion, indicating robust year-over-year growth of 271.6%.
Micron Technology has achieved an industry-first ramp-up of 1β DRAM, HBM3E and 232-layer/368-layer NAND, positioning it strongly for next-generation demand in the third quarter of fiscal 2026. MU is also benefiting from the improving memory pricing environment, driven by industry discipline, supply tightening and a richer product mix.
However, inflationary pressures and macroeconomic uncertainties have dampened consumer spending, likely reducing demand for memory chips in key markets, such as smartphones and personal computers. Micron Technology’s heavy reliance on China poses a risk amid ongoing U.S.-China trade tensions.
Over the past year, Micron Technology shares have surged 835.3%, outperforming the Zacks Computer – Integrated Systems industry’s rise of 244.9%. The stock has also outpaced major semiconductor companies, including Taiwan Semiconductor Manufacturing (TSM – Free Report) , Broadcom (AVGO – Free Report) and NVIDIA (NVDA – Free Report) . Shares of Taiwan Semiconductor Manufacturing, Broadcom and NVIDIA have rallied 116.8%, 63.8% and 44.5%, respectively.
Image Source: Zacks Investment Research
From a valuation standpoint, MU appears to be trading at a discount relative to the industry and is trading well below its mean. Going by the forward 12-month price-to-earnings (P/E) ratio, the company’s shares currently trade at 11.75, significantly lower than 18.34 for the industry.
Image Source: Zacks Investment Research
MU stock also trades at a discounted multiple compared to Broadcom, NVIDIA and Taiwan Semiconductor Manufacturing. At present, Broadcom, NVIDIA and Taiwan Semiconductor Manufacturing have P/S multiples of 27.12, 25.07 and 20.74, respectively.
Micron Technology sits at the heart of several transformative tech trends. The company’s exposure to AI, high-performance data centers, autonomous vehicles and industrial IoT uniquely positions it for sustainable long-term growth. As AI adoption accelerates, the demand for advanced memory solutions like DRAM and NAND is soaring. Micron Technology’s investments in next-generation DRAM and 3D NAND ensure it remains competitive in delivering the performance needed for modern computing.
The company’s diversification strategy is also bearing fruit. Micron Technology has created a more stable revenue base by shifting its focus from the more volatile consumer electronics market toward resilient verticals such as automotive and enterprise IT.
Micron Technology is also riding on a strong wave of high-bandwidth memory (HBM) demand. Its HBM3E and HBM4 products are attracting significant interest due to their superior energy efficiency and bandwidth, which are ideal for AI workloads. The continuously evolving new tech trends and diversification strategy are likely to aid MU’s growth over the long run.
Micron Technology’s fundamentals remain strong, and its position in the AI-driven memory market is well-established. The company offers compelling long-term growth potential, maintains a disciplined approach to innovation and trades at a discount relative to peers. Considering these factors, it is prudent to accumulate MU stock ahead of its third-quarter fiscal 2026 results.
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Micron Likely to Beat Q3 Earnings Estimates: Time to Buy the Stock? – Zacks Investment Research
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