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

Micron Technology Inc will release its third-quarter earnings after the markets close on Wednesday. 

Despite fears of an AI 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 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 expect EPS to range from $20.17 to $20.42.

Micron had a successful year

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 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, 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 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.