Due to continued weakness in demand for personal computers and an oversupply of related semiconductors in Chinese warehouses, there's still a chance that Micron Technology reports a loss as the PC end market continues to struggle, Benzinga noted.
Wedbush analysts believe that new Micron CEO Ernie Maddock is likely to take the bar down low bringing another reset to Street estimates, and the firm is lowering revenue and EPS estimates for the fiscal fourth quarter to $4 billion and 62 cents, respectively, from $4.17 billion and 77 cents.
Micron Technology is expected to announce its third quarter earnings results on June 25.
MKM Partners believes that PC DRAM (Dynamic random-access memory) market continues to remain weak despite the Microsoft (MSFT) Windows 10 and Intel (INTC) Skylake refreshes.
Micron Technology, based in Boise, ID, is a semiconductor devices provider that produces dynamic random-access memory, flash memory, and solid-state drives.
Separately, TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow."