Semiconductor Stocks
Micron Q2 FY2024 Earnings Preview: Signs of Rebound
Micron will release its results on March 20th. The company reported 15.7% revenue growth in the last quarter, breaking the string of five quarters of negative growth. Management expects revenue to grow 43.5% YoY to $5.3 billion. Higher prices and better utilization rates are also expected to improve the company’s margin profile in 2024, along with contribution from higher margin high-bandwidth memory (HBM). The company will be in focus as HBM3e emerges as a significant enabler of generative AI applications and a significant growth driver over the next few years. Micron has recently started volume production of HBM3e, and more details will likely be revealed during the earnings call.
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