NEW YORK, June 24, 2026, 10:03 (EDT)
- Micron reports its fiscal third-quarter numbers after the bell Wednesday. The earnings call starts at 4:30 p.m. EDT.
- The stock slipped 0.3% to $1,048.34 in early Nasdaq action. It came after a sharp fall on Tuesday.
- Wall Street is looking for strong gains in both earnings and revenue with memory-chip prices rising.
Micron Technology shares slipped early Wednesday as investors looked ahead to the memory-chip company’s fiscal Q3 earnings, a release many see as a gauge for the AI trade after recent pressure on chip names. Micron was down 0.33% at $1,048.34 as of 9:56 a.m. EDT, trading between $1,032 and $1,083.32 so far, according to MarketWatch.
Micron will now report fiscal Q3 results at 4:30 p.m. EDT on Wednesday, followed by an analyst call at 6 p.m. The company previously scheduled the call for 2:30 p.m. Mountain time.
Wall Street is looking for a strong quarter. FactSet’s consensus, reported by MarketWatch, sees adjusted earnings per share at $20.83, up from $1.91 last year. Revenue is forecast to reach $35.9 billion, around triple what it was a year ago.
Micron makes memory chips for computers and AI servers. A business that used to move with tech cycles is now central to the AI boom, as server makers look for more powerful memory to support processors from companies like Nvidia.
Micron shares have surged. MarketWatch reported the stock gained 269% in 2026 and is up 930% for the past 12 months. This comes even after a drop of 13.5% on Tuesday, which was Micron’s steepest single-day loss since April 2025.
Chip stocks may face more selling if losses spread, said Michael Field, chief equity market strategist at Morningstar. “It’s that question of whether it sets off a domino effect,” Field said of the chip selloff. Chris Weston, head of research at Pepperstone, said the “risk-reward profile has shifted” after AI infrastructure and memory stocks ran up sharply. Reuters
Rosenblatt Securities analyst Kevin Cassidy stayed positive. Cassidy told Axios he was looking for a “beat-and-raise,” pointing to higher memory pricing, more AI demand, and limited supply as drivers. Axios
SK Hynix is looking to raise as much as $29.4 billion with a Nasdaq listing of American depositary receipts, the company said Wednesday. The move puts it up against Micron, its main rival in high-bandwidth memory, which is used with AI processors. “The main draw was that SK Hynix would trade on Nasdaq alongside rival Micron,” said Ryu Young-ho, senior analyst at NH Investment & Securities. Reuters
Options tied to Micron are showing traders bracing for a sharp move when results hit. Saxo reported the options market was pricing in a swing of about 11% up or down around the earnings, as of June 22.
But there’s risk. Kenny Polcari, chief market strategist at Slatestone Wealth, called Micron “priced for perfection.” He said the stock could get hit if Micron signals a weaker outlook, tighter margins, or if there’s any hint that AI server memory demand is slipping. Reuters
