Micron Rallies Ahead of June 24 Earnings as Analysts Call the Dip a Buying Opportunity

Options traders are pricing a roughly 20% swing and the report will be read to see if Micron can keep HBM pricing and capacity advantages intact.

Overview

Micron shares bounced on Tuesday after a Broadcom-driven sector selloff last week, with UBS and Goldman publishing bullish notes that framed the pullback as a buying opportunity and raised forecasts.
Options markets are pricing in about a 20% move around Micron’s fiscal Q3 report on June 24, signaling high trader expectations of a sharp post-earnings reaction.
Wall Street consensus has a very high bar for the quarter, with analysts expecting roughly $34.4 billion in revenue and about $19.72 in EPS, and some firms forecasting even higher top-line results.
Micron says its 2026 HBM supply is sold out and has begun HBM4 production that Nvidia plans to use in new GPUs, giving the company near-term leverage in AI memory demand.
Investors will watch guidance for Strategic Customer Agreements, DRAM and NAND pricing, and capital spending because rising enterprise AI costs and planned capacity increases could normalize prices and affect margins.