Micron Technology (MU) is scheduled to report third-quarter earnings after the closing bell on Wednesday, with traders expecting a sizable move from the chipmaker’s stock.
Options pricing suggests traders anticipate the shares could move close to 8%, or nearly $10, in either direction in the two days following the chipmaker’s report. At the high end, that would leave shares near $138, or bring them down to $118 at the low end.
In March, shares dropped 8% the day after Micron issued a gross margin forecast that one analyst called a “fly in the ointment” of otherwise strong results. The stock plunged 16% following Micron’s December earnings report, which included a warning from the chipmaker about softness in the PC market.
Still, Micron’s stock has gained over 50% in 2025 so far amid expectations it could benefit from growing AI demand. The stock climbed nearly 5% Tuesday to close at $127.91 a day ahead of the company’s results.
Heading into Wednesday’s earnings, most analysts tracked by Visible Alpha expect growing profits from the chipmaker and rate its stock a “buy,” though their average price target at $121 would suggest a decline from Tuesday’s close after the stock’s recent gains.
