Categories AlphaGraphs, Earnings, LATEST, Technology

Industry slump, reduced Apple outlook points to cloudy Micron Q2 earnings

Micron Technology (MU) is scheduled to post its second-quarter 2019 earnings on March 20. The question, however, is: will the semiconductor industry see a slowdown?

Looking at the market, the Micron stock has climbed 20% this year. With other chip giants such as Advanced Micro Devices (AMD) and Nvidia (NVDA) cutting their outlook in an environment post the crypto bubble bursting, we could see these effects translate to DRAM maker Micron.

In the previously reported first quarter, Micron saw a profit jump of 23%, despite a tight market.

Now, investors will be looking at a period that the Nvidia CEO Jensen Huang termed “an extraordinary, unusually turbulent, and disappointing quarter.”

Another area that Micron relies on the PC and smartphone markets. With the recent Apple (AAPL) slump, the effects might ripple and spread to the balance sheet of Micron.

But, analyzing the market, Micron’s shares have beaten the 15% climb of the industry stocks — despite the company slumping 31% in the last twelve months.

Micron Technology first quarter 2019 Earnings Infographic

According to Zacks Research, Micron is touted to slip about 19% in second-quarter revenue to post a little short of $6 billion, with its DRAM unit revenue expected to slip further in the coming quarters.

Adjusted earnings are estimated to slump by about 39% to just $1.70 per share.

Micron could see a recovery if it beats market estimates. However, given that Nvidia stock slumped in the long-term despite upbeat results it posted last month, the market could react either way.



Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more! ()

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Viewing Highlight