Micron Technology’s share price has returned to the 1,000 level for the first time in three weeks, with a cumulative gain of nearly 700% over the past 12 months. South Korean peers SK Hynix and Samsung Electronics surged 8.3% and 5.7%, respectively, on Monday, signaling a broad recovery in sentiment across the memory chip sector. Market attention is now focused on the earnings report due on September 30, where earnings per share are projected to jump nearly tenfold to $30.89, while revenue is expected to more than triple from $11.3 billion to $50.4 billion.
$Micron Technology (MU.US)$ The stock price has returned to the 1,000-yuan level, with market attention now shifting to the 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 August 17. Meanwhile, South Korean memory chip peers SK Hynix and Samsung Electronics surged 8.3% and 5.7%, respectively, in the South Korean market on Monday. The strong performance of Asian peers provided positive signals for further upside in Micron's stock.
The next key milestone is the earnings release on September 30. According to FactSet data, Micron's adjusted earnings per share (EPS) for the fourth fiscal quarter are projected to jump significantly from $2.84 in the same period last year to $30.89, while revenue is expected to rise from $11.32 billion to $50.41 billion, representing substantial year-on-year growth.
Stock price returns to the $1,000 mark; nearly 700% gain over the past year; revenue expected to surge year-on-year.
Micron's stock has accumulated a gain of nearly 700% over the past 12 months. Its return to the $1,000 level marks a full recovery from the mid-August pullback. The 6.1% single-day gain last Friday pushed the closing price to $1,016.59, the first time in nearly three weeks that the stock has closed above the $1,000 integer threshold.
Micron shares were suspended from trading on Monday due to the Labor Day holiday, but the performance of peers in the South Korean market provided important reference points. SK Hynix rose 8.3% and Samsung Electronics gained 5.7% in a single day, indicating a marked improvement in sentiment across the memory chip sector, which supports Micron's future trajectory.
Micron is scheduled to release its fourth fiscal quarter results on September 30, with market consensus expecting significant growth in both earnings and revenue. According to FactSet, adjusted EPS for the quarter is projected to reach $30.89, nearly ten times the $2.84 recorded in the same period last year; revenue is forecast at $50.41 billion, more than triple the $11.32 billion from the previous year.
Edited by Jeffy