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Micron Stock Reclaims $1,000 as Market Eyes Late-September Earnings

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Micron Technology's stock has returned to the $1,000 mark, with market attention now shifting to the company's quarterly earnings report due at the end of this month.

Last Friday, Micron Technology closed up 6.1% at $1,016.59, marking its first close above $1,000 since Aug. 17. Meanwhile, South Korean memory chip peers SK Hynix and Samsung Electronics surged 8.3% and 5.7% respectively in the Korean market on Monday, with the strong performance of Asian peers providing a positive signal for Micron's further upside.

The next key milestone is the earnings release on Sept. 30. According to FactSet data, Micron's adjusted earnings per share for the fourth fiscal quarter are expected to jump sharply from $2.84 in the same period last year to $30.89, while revenue is expected to increase from $11.32 billion to $50.41 billion, both showing significant year-over-year growth.

 

Stock Returns to $1,000, Up Nearly 700% Over the Past Year, Revenue Up Significantly Year-Over-Year

 

Micron's stock has risen nearly 700% over the past 12 months, and this return to the $1,000 level marks the stock's recovery from the pullback in mid-August. Friday's 6.1% single-day gain pushed the stock to close at $1,016.59, its first close above the $1,000 round-number mark in nearly three weeks.

Due to the Labor Day holiday, Micron's stock was not traded on Monday, but the performance of peers in the Korean market provided an important reference. SK Hynix rose 8.3% in a single day, and Samsung Electronics gained 5.7%, with overall sentiment in the memory chip sector clearly warming, providing support for Micron's subsequent trend.

Micron will release its fourth fiscal quarter results on Sept. 30, and market expectations indicate significant growth in both profit and revenue. According to FactSet, adjusted earnings per share for the quarter are expected to reach $30.89, up nearly tenfold from $2.84 in the same period last year; revenue is expected to reach $50.41 billion, up more than threefold from $11.32 billion in the same period last year.

This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.

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