Everything Could Change for Micron Stock on June 24

Micron Technology (NASDAQ: MU) has been one of the more exciting stocks on the market so far in 2026. Its share price is up over 293% so far, and it may not be done yet. Micron reports earnings on June 24, and it could mark another spate of movement for the stock.

Expectations are high entering the announcement, and what management says could allow the rise to continue or make the stock plummet. So what's in store for Micron's stock following earnings? Let's take a look.

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Micron is thriving from a memory chip shortage

Micron manufactures memory chips, which are vital for nearly every type of computing device. There are two primary types of memory: NAND and DRAM. NAND is for long-term data storage, and DRAM is higher-speed, volatile storage used with computing units (like graphics processing units). Micron makes both types of memory, and both are in short supply due to huge demand from the data center build-out. Micron's production capacity has essentially been sold out this year, and what it can deliver to clients will determine how the market views the stock.

Micron is working to increase its production capacity by getting its new Idaho facility up and running by mid-2027, but that's still a ways out. Even then, data center capital expenditures are expected to rise again in 2027, which will further amplify the current shortage.

All of this leads to an environment where Micron can continue to thrive and should lead to soaring revenue. The item most investors will have their eye on is the trajectory of Micron's revenue. Two quarters ago, it generated $13.6 billion in revenue. Last quarter, it was $23.9 billion. For its current quarter, it expects $33.5 billion. That's essentially adding $10 billion in revenue each quarter, and Wall Street thinks that pattern will likely continue into the next quarter, as it estimates $41 billion in revenue.

If Micron matches or exceeds that projection, don't be surprised to see the stock spike after it reports. However, if it missed that figure, the stock could come crashing down. Judging by the trends of the AI build-out, I think Micron will exceed these guidance figures, which could lead to its stock rising even further.

Trading at 17 times forward earnings, the stock could have plenty of room to rise following earnings, making it a stock to consider buying before June 24, especially for investors with a long-term buy in mind.

Keithen Drury has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.