Micron earnings preview: Here’s what Wall Street expects as all eyes turn to MU stock and the memory chip rally

Micron Technology Inc is set to report third-quarter earnings on Wednesday, with Wall Street expecting revenue of $35.5 billion, a 281% year-over-year increase, driven by surging demand for memory chips used in AI data centers. The stock hit an all-time high of $1,213.56 earlier this week, though shares have recently dropped amid fears of an AI bubble.

Micron Technology Inc will release its third-quarter earnings after the markets close on Wednesday. Despite fears of an AI https://www.fastcompany.com/section/artificial-intelligence bubble, Wall Street predicts positive results. Micron could report $35.5 billion in revenue—a 281% jump year-over-year YOY , according to a Bloomberg analyst consensus https://finance.yahoo.com/technology/article/micron-to-report-third-quarter-earnings-amid-sky-high-demand-from-data-centers-113000152.html cited by Yahoo Finance. Its DRAM memory and NAND storage revenues are expected to grow 288% and 256% YOY, respectively. Micron is also predicted by Bloomberg’s analysts to have earnings per share of $20.39, about a 967% increase YOY. However, consensus estimates cited by CNBC https://www.cnbc.com/2026/06/22/micron-quadruples-year-to-date-wall-street-mostly-thinks-wednesdays-earnings-will-live-up-to-the-hype.html expect EPS to range from $20.17 to $20.42. The earnings report will come just two days after Micron’s shares Nasdaq: MU reached a new all-time high of $1,213.56. The stock price is up over 722% YOY and $268 year-to-date YTD . Shares of Micron have occasionally dropped https://www.fastcompany.com/91563622/tech-stocks-tank-on-wall-street-is-the-chip-bubble-finally-popping alongside those of other chip manufacturers due to fears about over-investment in AI and the infrastructure that powers it. Just yesterday, shares dropped more than 13% in response to concerns about a stock bubble in South Korea https://www.fastcompany.com/91563622/tech-stocks-tank-on-wall-street-is-the-chip-bubble-finally-popping , following a large selloff and losses for both Samsung’s and SK Hynik’s shares. In premarket trading on Wednesday, Micron’s stock seemed to be on track to recover some of those losses, up 4% as of this writing. More broadly, chipmakers like Micron and Sandisk Corporation Nasdaq: SNDK have seen their stocks rise tremendously in response to the growing demand for—and shortage of—memory chips, a necessity for AI data centers. Monday’s share price spike came as Micron and Anthropic announced an agreement https://investors.micron.com/news-releases/news-release-details/micron-and-anthropic-announce-strategic-agreement-scale-next for the chipmaker to invest in Anthropic, have an enterprise adoption of Claude across the company, and supply memory and storage to Anthropic—among other points. Boise, Idaho-based Micron is expected to release its third-quarter earnings after the closing bell on Wednesday, June 24, 2026.