Micron's Q3 Earnings: 8 Analysts Optimistic About AI Growth, Predict Success In Advanced Memory Technology
Portfolio Pulse from Surbhi Jain
Micron Technology Inc (NASDAQ:MU) reported better-than-expected Q3 2024 earnings with revenue of $6.81 billion and EPS of 62 cents. Despite this, the stock traded lower due to lackluster top-line guidance. Analysts remain optimistic about Micron's future, citing AI growth and advanced memory technology as key drivers. Advanced Micro Devices, Inc (NASDAQ:AMD) shares were also affected in sympathy.
June 27, 2024 | 4:19 pm
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POSITIVE IMPACT
Micron Technology Inc (NASDAQ:MU) reported better-than-expected Q3 2024 earnings but traded lower due to weak top-line guidance. Analysts remain optimistic, citing AI growth and advanced memory technology as key drivers.
Despite the stock trading lower due to weak guidance, the overall sentiment from analysts is positive. They highlight AI growth and advanced memory technology as significant future drivers, which could lead to a positive impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Advanced Micro Devices, Inc (NASDAQ:AMD) shares were affected in sympathy with Micron's lower trading post-earnings. The impact is indirect but notable.
AMD shares were impacted indirectly due to Micron's lower trading post-earnings. This sympathy effect could lead to a short-term negative impact on AMD's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50