Micron Technology Inc (NASDAQ:MU) looks to continue a streak of beating analyst estimates when the company reports first-quarter financial results Wednesday after market close.
• Micron Technology stock is showing positive momentum. What’s ahead for MU stock?
Here are the earnings estimates, what analysts are saying ahead of the report and the key items to watch.
Earnings Estimates: Analysts expect Micron to report first-quarter revenue of $12.81 billion, up from $8.71 billion, according to data from Benzinga Pro.
The estimated revenue would mark a new record for the company, surpassing the $11.31 billion reported in the fourth quarter. Micron has broken its quarterly record in two straight quarters, with a third potential record coming this week.
Micron has beaten analyst estimates for revenue in 10 straight quarters.
Analysts expect Micron to report first-quarter earnings per share of $3.93, up from $1.79 in last year's first quarter.
The company has beaten analyst estimates for earnings per share in seven straight quarters and in nine of the past 10 quarters overall.
Guidance from the company calls for first-quarter revenue in a range of $12.2 billion to $12.8 billion and earnings per share in a range of $3.60 to $3.90.
What Analysts Are Saying: Micron will set a new quarterly record and the company could have "record quarters ahead," Rosenblatt analyst Kevin Cassidy said in a new investor note.
The analyst maintained a Buy rating on Micron with a price target of $300.
"We are expecting Micron to report another record quarterly only to be topped by February quarter guidance," Cassidy said.
The analyst said the record revenue is coming by disciplined supply growth in recent years along with strong demand for the company's products.
"We see the financial performance as supporting the growth."
Cassidy said the company is becoming stronger with AI applications having an increased need for memory.
The analyst said a key item to watch will be management commentary for when more meaningful capacity is coming.
"We recommend owning the stock."
Needham analyst Quinn Bolton maintained a Buy rating on Micron and raised the price target from $200 to $300 ahead of the earnings report.
"With the memory market continuing to tighten, demand likely to exceed supply throughout CY 26," Bolton said.
The analyst raised revenue and eps estimates for fiscal 2026 and fiscal 2027 "substantially."
"Demand conditions in the data center market remain robust, driven by increasing hyperscaler and neocloud CapEx."
Bolton said this is a strong tailwind for Micron that will help average selling prices and gross margins.
Several other analysts raised their price targets for Micron stock ahead of the earnings report, including Wedbush analyst Matt Bryson, who maintained an Outperform rating and raised the price target from $220 to $300.
Read Also: Micron Stock Climbs As Wedbush Says Shares Are Headed To $300
Key Items to Watch: Micron shares are up over 160% in 2025, which could create high expectations for the stock.
Analysts and investors likely expect another double beat and raised guidance. If the company fails to beat or update on guidance, shares could end up being volatile the rest of the week.
Freedom Capital Markets Chief Market Strategist Jay Woods cautioned on shares being volatile in his weekly newsletter.
"Shares have traded lower after posting results over the last four quarters and over five of their last six," Woods said.
The market expert said this could be a case of shares trading higher before earnings and selling off after the earnings report.
Micron said it had all-time highs for its data center business and was entering 2026 with "strong momentum" during its fourth quarter financial results. CEO Sanjay Mehrotra told investors Micron was "uniquely positioned to capitalize on the AI opportunity ahead."
Analysts and investors will be looking forward to guidance and commentary on future growth for the company.
MU Price Action: Micron stock was down 2.10% to $232.51 on Tuesday versus a 52-week trading range of $61.54 to $264.75. Micron shares are up around 176% year-to-date in 2025.
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