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

Salesforce stock hit by weak guidance, co-CEO’s exit. What next?

For technology stocks, 2022 has been a challenging year, with companies losing significant market value amid prolonged stock selloff. In that respect, Salesforce, Inc. (NYSE: CRM) is among the worst-affected

Macy’s (M): Here’s a look at the retailer’s expectations for the near term

Shares of Macy’s Inc. (NYSE: M) were down on Thursday. The stock has gained 36% over the past three months and 18% over the past one month. The company’s sales

KR Earnings: Kroger Q3 sales, profit increase and top expectations

Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to

Add Comment
Viewing Highlight