Swing To Trade
  • Stock
  • Politics
  • Business
  • Sports
Stock

Micron stock price gets highly overbought ahead of earnings

by admin June 23, 2025
June 23, 2025

Micron stock price has staged a strong comeback in the past few months, moving from a low of $61.70 in April to $123.6 today. It has jumped to its highest point since July 2024, bringing its market capitalization to over $138 billion. So, is MU stock a good buy ahead of its earnings?

Micron stock price technical analysis as it gets highly overbought

The daily timeframe shows that the MU stock price bottomed at $61.7 in April to a high of $123.60 today. It has already moved above the 61.8% Fibonacci Retracement level at $120. 

Micron stock has also moved above the 50% Fibonacci Retracement level at $110, a bullish sign. Most importantly, it has formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other.

The Average Directional Index (ADX) has jumped to 41, a sign that bulls are in control. Further, the Relative Strength Index (RSI) has jumped to the extreme overbought level of 80. 

Similarly, the Stochastic Oscillator and the MACD indicators have continued rising this year. Therefore, the most likely scenario is where the stock will bounce back and reach a high of $136, the 78.6% retracement point, which is 11% above the current level.

The other alternative is where the stock retreats to the support at $114, the highest point in September, October, and November last year. Such a move will point to more downside, potentially to the psychological point at $100.

MU stock price chart | Source: TradingView 

Micron Technology earnings ahead

The next major catalyst for the MU stock price will be its earnings, which are scheduled for Thursday this week. These numbers will provide more information about its growth trajectory and whether the momentum in the second quarter continued. 

The most recent quarterly results showed that Micron’s revenue rose to $8.05 billion in Q2’25, a big increase from the $5.82 billion it made in the same period last year. 

This growth happened as many large hyperscale companies like Amazon and Microsoft reiterated their capital expenditure spending, which is notable since many of them rely on Micron. 

As a result, Micron noted that it was already sold out of its high bandwidth memory (HBM), a business it expects will be worth over $35 billion. It is also seeing more demand for HBM for the next calendar year. 

Read more: Micron stock price forecast: will it rise or fall after earnings?

The company is also pegging its growth trajectory to HBM4, which will ramp up next year. This project increases the bandwidth by over 60% compared to the current model. 

Micron’s business is being driven by AI and data center demand. Other segments like personal computers, mobile, and automobile are expected to record single-digit growth this year.

The average revenue estimate among Wall Street analysts is that its revenue will come in at $8.83 billion this quarter, up by 30% from a year earlier. 

Micron is then expected to make $9.87 billion this year, up by 27% from a year earlier. This growth will then lead to a 41% YoY annual growth to $35 billion, followed by 26% growth to $44.93 billion. 

Micron’s earnings per share (EPS) are expected to surge from 62 cents in Q3’24 to $1.59 in Q3’25. Its annual EPS will jump from $1.3 to $7. Micron has a long track record of beating analysts’ estimates, which explains why its results will be higher than expectations this year. 

Analyst have a bullish view on Micron, with those at Wells Fargo having an overweight rating. Wedbush and Mizuho have an outperform rating, while Citigroup and UBS have a buy rating. The average Micron stock price target is $126.35, slightly above the current $123.60.

The post Micron stock price gets highly overbought ahead of earnings appeared first on Invezz

previous post
Circle Internet share outlook: CRCL stock rallies 15% after Senate’s GENIUS nod
next post
Apple sued by shareholders who allege it overstated AI progress

Related Posts

Tom Lee picks Ether over Bitcoin as primary...

June 30, 2025

BBAI stock soars 21% today as AI hype...

June 30, 2025

Joby Aviation stock soars 20% after Dubai flight...

June 30, 2025

Renewable energy stocks fall as Trump bill taxes...

June 30, 2025

Is Dubai still investable or has that ship...

June 30, 2025

Cloudflare stock price forecast: eying ATH after flipping...

June 29, 2025

What next for the Dave stock price after...

June 29, 2025

Here’s why Coinbase stock price is about to...

June 29, 2025

Here’s why the Celsius Holdings stock price is...

June 29, 2025

Citi Wealth CIO says traders ignoring warning signs...

June 28, 2025
Join The Exclusive Subscription Today And Get Premium Articles For Free

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent Posts

    • Tom Lee picks Ether over Bitcoin as primary treasury reserve asset: find out more

      June 30, 2025
    • BBAI stock soars 21% today as AI hype powers massive 300% gain in one year

      June 30, 2025
    • Joby Aviation stock soars 20% after Dubai flight milestone, eyes 2026 launch

      June 30, 2025
    • Renewable energy stocks fall as Trump bill taxes Chinese components

      June 30, 2025
    • Is Dubai still investable or has that ship sailed already?

      June 30, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 SwingToTrade.com All Rights Reserved.

    Swing To Trade
    • Stock
    • Politics
    • Business
    • Sports