Micron Earnings Preview: AI Memory Rally Faces Reality Check

Micron Technology reports Q3 earnings after market close with Wall Street expecting blockbuster results driven by AI data-center demand for high-bandwidth memory (HBM). The stock has surged from under $100 to over $1,000 in 12 months as HBM becomes critical infrastructure. Analysts have raised price targets significantly, though options pricing suggests traders expect volatility of ±$130. Key focus will be Q4 guidance and gross margins, with any signs of weakening growth potentially triggering a sell-off.