Micron beat by $2 a share on record $54.2 billion in sales. Will MU close above its pre-earnings $1,065 on Oct 2?
54% of users predicted NO — the community missed this one. 11 predictions cast.
Micron Technology's stock closed above its pre-earnings level of $1,065 on Oct. 2, finishing near $1,075, two trading days after the company reported record fiscal fourth-quarter results on Sept. 30. Micron posted adjusted earnings of $33.42 a share on revenue of $54.23 billion, topping Wall Street's targets of roughly $31.16 a share and $50.45 billion, driven by surging demand for AI-related memory chips. It marked the company's sixth consecutive quarter of record sales.
Shares rose about 3% in the first session after the report, breaking a pattern in which Micron's previous five post-earnings reactions had initially dipped before recovering. The stock held most of those gains through Oct. 2, even as some memory-sector peers eased on concerns that current chip pricing and AI-driven demand could prove difficult to sustain.
The community was closely split on this outcome, with 46% predicting MU would close above $1,065 — a narrow majority leaned the other way, though the final result was close to a coin flip.