Micron Fiscal Q1 Earnings Preview: Here’s What to Expect

TipRanks2022-12-20

Story HighlightsMicron is scheduled to announce its fiscal first-quarter results after the market closes on Wednesday. Analysts expect a steep drop in the company’s revenue due to demand weakness in ...

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4West
2022-12-20
4West
Oooooo

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Analysts expect a steep drop in the company’s revenue due to demand weakness in ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/micron-nasdaqmu-fiscal-q1-earnings-preview-heres-what-to-expect\">Source Link</a>\n\n</div>\n","source":"lsy1606183248679","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Micron Fiscal Q1 Earnings Preview: Here’s What to Expect</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicron Fiscal Q1 Earnings Preview: Here’s What to Expect\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-20 21:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.tipranks.com/news/article/micron-nasdaqmu-fiscal-q1-earnings-preview-heres-what-to-expect><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Story HighlightsMicron is scheduled to announce its fiscal first-quarter results after the market closes on Wednesday. Analysts expect a steep drop in the company’s revenue due to demand weakness in ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/micron-nasdaqmu-fiscal-q1-earnings-preview-heres-what-to-expect\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MU","symbol_name":"美光科技","start_time":0,"source_url":"https://www.tipranks.com/news/article/micron-nasdaqmu-fiscal-q1-earnings-preview-heres-what-to-expect","article_id":"1177492558","we_media_id":null,"thumbnails":[],"rights":{"source":"lsy1606183248679","url":"https://www.tipranks.com/news/article/micron-nasdaqmu-fiscal-q1-earnings-preview-heres-what-to-expect","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1177492558","pubTimestamp":1671543088,"sourceInfo":{"source_id":"lsy1606183248679","name":"TipRanks"},"weMediaInfo":null,"summary":"Story HighlightsMicron is scheduled to announce its fiscal first-quarter results after the market cl","collect":0,"end_time":0,"defaultTopTitle":"tipranks.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MU":"美光科技"},"translate_title":"美光财政Q1收益预览：以下是预期","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MU":0.9},"content_text":"Story HighlightsMicron is scheduled to announce its fiscal first-quarter results after the market closes on Wednesday. Analysts expect a steep drop in the company’s revenue due to demand weakness in key end markets.Semiconductor maker Micron Technology (NASDAQ:MU) is scheduled to report its results for the first quarter of Fiscal 2023 after the market closes on December 21. The company is expected to post an adjusted loss in the fiscal first quarter due to a decline in the demand for memory chips amid a challenging macro backdrop.Analysts’ Estimates Reflect WeaknessLast month, Micron spooked investors when it announced that it would cut down its DRAM and NAND wafer production by about 20% compared to Q4 FY22, citing difficult market conditions. It expects bit supply to fall for DRAM in the calendar year 2023 and grow in the single-digit percentage range for NAND chips. Additionally, Micron cautioned that the outlook for the calendar year 2023 has weakened.Meanwhile, analysts expect Micron’s Fiscal Q1 revenue to decline 46% year-over-year to $4.1 billion. They project an adjusted loss per share of $0.02 in Q1 FY23 compared to an adjusted EPS of $2.16 in the prior-year quarter.Is Micron a Buy, Sell, or Hold?Ahead of the quarterly results, Deutsche Bank analyst Sidney Ho downgraded Micron stock to a Hold from Buy and lowered the price target to $55 from $60. Ho expects the current downturn in the memory market to last longer and be more intense than what was previously anticipated.Ho highlighted that the weakness in the consumer PC and smartphone markets has now extended to the enterprise market. The analyst also noted that the demand in the cloud end market has also started to disappoint. Ho expects Micron to generate net losses in the entire calendar year 2023 due to the demand slump and elevated inventory levels.Overall, Ho moved to the sidelines as he believes that the risk-reward for Micron stock looks balanced at the current levels and prefers to wait for a better entry level.Wall Street is cautiously optimistic about Micron stock, with a Moderate Buy consensus rating based on 16 Buys, five Holds, and two Sells. The average Micron stock price target of $64 implies 23.7% upside potential from current levels. Shares have declined over 44% year-to-date.ConclusionAnalysts expect Micron’s revenue and earnings to reflect the fall in demand for memory chips amid deteriorating macro conditions. 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