Micron Technology Inc (NASDAQ:MU) shares surged during Wednesday’s premarket session. This follows a 4.5% gain on Tuesday.
Investors are positioning themselves before the company’s fiscal second-quarter results. The report drops after the closing bell on Wednesday.
Analysts Expect Massive Year-Over-Year Growth
Wall Street expects a significant jump in financial performance. According to Benzinga Pro data, the consensus revenue estimate is $19.26 billion. This compares to $8.05 billion in the year-ago period.
Analysts project quarterly earnings of $8.77 per share. Last year, the company reported just $1.56 per share.
TD Cowen analyst Krish Sankar is even more optimistic. He expects earnings of $10.40 per share for the February quarter. Sankar maintained a Buy rating and raised his price target to …
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