Micron shares swing as earnings approach amid chip shortage and market pressure

  • Micron shares rose 3.1% Wednesday before falling about 3% to $995.70 in Thursday’s premarket session.
  • Analysts expect $30.89 in adjusted EPS and $50.41 billion in revenue for Micron’s September 30 fiscal-fourth-quarter report.
  • UBS expects DRAM and NAND to remain undersupplied through 2027, while Micron’s bullish moving-average formation remains under review.

Micron Technology shares rose 3.1% to $1,030.52 during Wednesday morning trading on September 9, then fell about 3% to $995.70 in Thursday’s premarket session as rising bond yields, elevated oil prices and broader economic uncertainty pressured technology stocks. The company is scheduled to report fiscal fourth-quarter results on September 30, with analysts expecting adjusted EPS of $30.89 and revenue of $50.41 billion. UBS analyst Timothy Arcuri expects memory-semiconductor average selling prices to rise more than 20% sequentially in the third quarter and said DRAM and NAND may remain undersupplied through 2027. Micron remains in a long-term uptrend, though resistance near $1,012 and support near $887.50 are key technical levels.

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