Micron Heads Into Earnings as JPMorgan Sees HBM Shortage Lasting Through 2028

JPMorgan analyst Harlan Sur anticipates that Micron Technology Inc. (NASDAQ: MU) will report strong memory pricing in its upcoming fourth-quarter earnings, with expectations for August-quarter revenue, gross margin, and EPS to exceed Wall Street estimates of $51.4 billion, 86.2%, and $31.73, respectively. Sur projects that DRAM and NAND prices will rise over 20% sequentially, and Micron's data-center business is expected to surpass a $100 billion annualized revenue run rate. Additionally, Sur forecasts that HBM shortages will persist through 2028, maintaining upward pressure on pricing, while Micron plans to return excess cash via share buybacks following its CHIPS Act deal anniversary. As of the report, Micron's stock was down 3.89% at $1040.18.