Micron’s Q3 revenue and EPS estimates show 285% and 991% year-over-year growth, respectively, while its stock lags at 721%.
Micron reports earnings after the close, with its stock trading at $1043, down $8.50 on the day but up 721% from a year ago. Revenue surged from $9.3 billion to $23.86 billion in the last quarter, a 156% increase, with estimates for $35.85 billion this quarter, reflecting 285% year-over-year growth.
Non-GAAP EPS rose from $1.91 to $12.20 in the same period, a 539% jump, with current estimates at $20.83, or 991% higher than a year ago. Despite earnings growth outpacing the stock’s 721% rally, the P/E ratio has compressed, fueling debate over valuation.
Analysts remain bullish, with 38 of 43 targeting prices between $1,200 and $1,750. The stock reached an all-time high of $1213.56 earlier this week.