The storage sector's big three report earnings next week! Can their high momentum continue?
🎁 Memory giant Micron's earnings are coming soon! A new earnings high is virtually guaranteed—can it provide stronger guidance and push its stock price to new highs? Make your guess and win great prizes!
Hello, fellow investors
Sentiment around the AI theme has been quite volatile lately! On one hand, $NVIDIA (NVDA.US)$ news about the Rubin platform and the HBM4 supply chain continues to gain traction; on the other, AI-related stocks at elevated levels are now facing stricter scrutiny based on actual earnings.
This time, the market spotlight has turned to 'core beneficiaries of AI memory demand.'—— $Micron Technology (MU.US)$
Micron will report its latest quarterly results after U.S. market hours on Wednesday (June 24). Analysts expect revenue of $35.0184 billion, up 276.50% year-over-year, and earnings per share of $20.379, a staggering 1,113.02% increase from the same period last year.
Against the backdrop of sustained strong investment in AI data centers and robust demand for high-bandwidth memory (HBM),，the market is watching closely:Can Micron deliver a sufficiently impressive earnings report to prove that memory is still riding a new 'super cycle'?
![Hello, fellow investors[Waddle] Sentiment around the AI theme has been quite volatile lately! On one hand, $NVIDIA (NVDA.US)$ news about the Rubin platform and the HBM4 supply chain continues to gain traction; on the other, AI-related stocks at elevated levels are now facing stricter scrutiny based on actual earnings.[Smart] This time, the market spotlight has turned to 'core beneficiaries of AI memory demand.'—— $Micron Technology (MU.US)$ Micron will report its latest quarterly results after U.S. market hours on Wednesday (June 24). Analysts expect revenue of $35.0184 billion, up 276.50% year-over-year, and earnings per share of $20.379, a staggering 1,113.02% increase from the same period last year. Against the backdrop of sustained strong investment in AI data centers and robust demand for high-bandwidth memory (HBM),，the market is watching closely:Can Micron deliver a sufficiently impressive earnings report to prove that memory is still riding a new 'super cycle'? So far this year, Micron’s stock has surged aggressively, repeatedly hitting new all-time highs—significantly outperforming the Philadelphia Semiconductor Index and ranking among the best-performing semiconductor stocks in the S&P 500. However, precisely because of its substantial gains, market expectations for this earnings report have also been raised accordingly—Whether earnings can be 'not just good, but exceptionally strong' has become the key to whether the stock price can continue its short-term rally.[Thinking Face] Even more interestingly, Micron’s valuation still doesn’t appear expensive. Despite its significant stock price surge this year, its forward 12-month...](https://nnqimage.futunn.com/sns_client_feed/999982/20260622/web-1782094521323-FbVKycDUCD.png/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
So far this year, Micron’s stock has surged aggressively, repeatedly hitting new all-time highs—significantly outperforming the Philadelphia Semiconductor Index and ranking among the best-performing semiconductor stocks in the S&P 500. However, precisely because of its substantial gains, market expectations for this earnings report have also been raised accordingly—Whether earnings can be 'not just good, but exceptionally strong' has become the key to whether the stock price can continue its short-term rally.
More interestingly, Micron’s valuation still doesn’t appear expensive. Despite its significant share price gains this year, its forward 12-month P/E ratio remains below the semiconductor index average and notably lower than many AI chip peers. This leads bulls to believe Micron isn’t merely riding the AI rally but could be the memory sector leader with the greatest potential for valuation re-rating in the next phase of AI infrastructure build-out. There’s even talk that memory companies are transitioning from cyclical stocks to growth stocks.
However, market divergence is widening.
On one hand, demand for high-end memory such as HBM and DRAM from AI servers is rising rapidly.NVIDIA CEO Jensen Huang recently stated that three major memory chipmakers have been certified to supply its AI products with the most advanced HBM4 chips and have already entered production. This means Micron’s presence in the AI supply chain is becoming increasingly prominent.
On the other hand, the margin for error for AI-related stocks has clearly diminished recently.Companies linked to AI, such as Oracle and Broadcom, saw their shares pull back significantly after their recent earnings or guidance failed to meet heightened market expectations—reminding investors that in an already crowded AI trade, being 'good' may no longer be enough; results must 'beat expectations.' Additionally,the market also grew concerned about cooling memory demand following reports that NVIDIA’s Vera Rubin platform might feature reduced system memory capacity, pressuring memory-related stocks across the board.
![Hello, fellow investors[Waddle] Sentiment around the AI theme has been quite volatile lately! On one hand, $NVIDIA (NVDA.US)$ news about the Rubin platform and the HBM4 supply chain continues to gain traction; on the other, AI-related stocks at elevated levels are now facing stricter scrutiny based on actual earnings.[Smart] This time, the market spotlight has turned to 'core beneficiaries of AI memory demand.'—— $Micron Technology (MU.US)$ Micron will report its latest quarterly results after U.S. market hours on Wednesday (June 24). Analysts expect revenue of $35.0184 billion, up 276.50% year-over-year, and earnings per share of $20.379, a staggering 1,113.02% increase from the same period last year. Against the backdrop of sustained strong investment in AI data centers and robust demand for high-bandwidth memory (HBM),，the market is watching closely:Can Micron deliver a sufficiently impressive earnings report to prove that memory is still riding a new 'super cycle'? So far this year, Micron’s stock has surged aggressively, repeatedly hitting new all-time highs—significantly outperforming the Philadelphia Semiconductor Index and ranking among the best-performing semiconductor stocks in the S&P 500. However, precisely because of its substantial gains, market expectations for this earnings report have also been raised accordingly—Whether earnings can be 'not just good, but exceptionally strong' has become the key to whether the stock price can continue its short-term rally.[Thinking Face] Even more interestingly, Micron’s valuation still doesn’t appear expensive. Despite its significant stock price surge this year, its forward 12-month...](https://nnqimage.futunn.com/sns_client_feed/999982/20260622/web-1782094533292-mw6ft2FV1q.png/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Turning back to earnings themselves, the market is now focusing on several key checkpoints:
> Will HBM demand continue to surge? Can AI data center orders support stronger guidance?
> Will the rebound in DRAM and NAND prices further improve gross margins?
> Can Micron ramp up HBM4 production, advance customer certifications, and make progress on long-term contracts?
> Is management still optimistic about the future supply-demand balance?
From a fundamentals perspective, the bullish case is very clear: AI is driving a surge in memory demand, and major suppliers—having gone through the last cycle of adjustments—are now much more cautious about expanding capacity.Micron’s CEO has stated that, in the foreseeable future, overall industry supply will remain significantly below demand. Some analysts also believe that memory supply and demand may not rebalance until at least 2027. If this view holds true, Micron’s earnings upside may be far from fully realized.
One earnings report is all it takes to mark a turning point.Will sustained AI-driven memory demand and accelerating HBM order volumes lead Micron to raise guidance once again? Or will the market magnify any results that fall short of lofty expectations, putting temporary downward pressure on the stock price?
Vote now and share your outlook~ Fellow investors with correct predictions will split 10,000 points!Share your thoughts in the comments section—comments with at least 30 words and sound reasoning will earn you 66 points~
>> Are you currently holding cash and watching, or holding positions ahead of the earnings report?
>> Do you think Micron's biggest highlight is HBM demand, gross margin, or next quarter's guidance?
Note: The event ends at 23:59 Beijing Time on June 24; event rewards are stackable; the list of winners will be announced and rewards distributed collectively after the end of this earnings season.
Micron earnings are about to be released—how can you easily position yourself? 'Earnings Flash' by AI deciphers key insights; build an options strategy in three steps >>
![Hello, fellow investors[Waddle] Sentiment around the AI theme has been quite volatile lately! On one hand, $NVIDIA (NVDA.US)$ news about the Rubin platform and the HBM4 supply chain continues to gain traction; on the other, AI-related stocks at elevated levels are now facing stricter scrutiny based on actual earnings.[Smart] This time, the market spotlight has turned to 'core beneficiaries of AI memory demand.'—— $Micron Technology (MU.US)$ Micron will report its latest quarterly results after U.S. market hours on Wednesday (June 24). Analysts expect revenue of $35.0184 billion, up 276.50% year-over-year, and earnings per share of $20.379, a staggering 1,113.02% increase from the same period last year. Against the backdrop of sustained strong investment in AI data centers and robust demand for high-bandwidth memory (HBM),，the market is watching closely:Can Micron deliver a sufficiently impressive earnings report to prove that memory is still riding a new 'super cycle'? So far this year, Micron’s stock has surged aggressively, repeatedly hitting new all-time highs—significantly outperforming the Philadelphia Semiconductor Index and ranking among the best-performing semiconductor stocks in the S&P 500. However, precisely because of its substantial gains, market expectations for this earnings report have also been raised accordingly—Whether earnings can be 'not just good, but exceptionally strong' has become the key to whether the stock price can continue its short-term rally.[Thinking Face] Even more interestingly, Micron’s valuation still doesn’t appear expensive. Despite its significant stock price surge this year, its forward 12-month...](https://nnqimage.futunn.com/sns_client_feed/999982/20260622/web-1782095362955-3LYqFGhPb7.png/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
![Hello, fellow investors[Waddle] Sentiment around the AI theme has been quite volatile lately! On one hand, $NVIDIA (NVDA.US)$ news about the Rubin platform and the HBM4 supply chain continues to gain traction; on the other, AI-related stocks at elevated levels are now facing stricter scrutiny based on actual earnings.[Smart] This time, the market spotlight has turned to 'core beneficiaries of AI memory demand.'—— $Micron Technology (MU.US)$ Micron will report its latest quarterly results after U.S. market hours on Wednesday (June 24). Analysts expect revenue of $35.0184 billion, up 276.50% year-over-year, and earnings per share of $20.379, a staggering 1,113.02% increase from the same period last year. Against the backdrop of sustained strong investment in AI data centers and robust demand for high-bandwidth memory (HBM),，the market is watching closely:Can Micron deliver a sufficiently impressive earnings report to prove that memory is still riding a new 'super cycle'? So far this year, Micron’s stock has surged aggressively, repeatedly hitting new all-time highs—significantly outperforming the Philadelphia Semiconductor Index and ranking among the best-performing semiconductor stocks in the S&P 500. However, precisely because of its substantial gains, market expectations for this earnings report have also been raised accordingly—Whether earnings can be 'not just good, but exceptionally strong' has become the key to whether the stock price can continue its short-term rally.[Thinking Face] Even more interestingly, Micron’s valuation still doesn’t appear expensive. Despite its significant stock price surge this year, its forward 12-month...](https://nnqimage.futunn.com/sns_client_feed/999982/20260622/web-1782095446383-AsrHtPiK4e.jpeg/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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