Wall Street Bought the Rumor in Micron Stock, So Should You Sell the News? A Pre-Earnings Look at This Dot-Com Bubble Survivor.

Core Viewpoint - Micron Technology (MU) is set to report earnings on September 23, attracting significant attention due to its status as a key player in the AI sector with its high-bandwidth memory (HBM) chips, which are essential for AI accelerator companies [1][4]. Group 1: Earnings Expectations - MU's stock has risen nearly $100 per share since its April low, closing at $160, indicating high expectations for the upcoming earnings report [5]. - Analysts have established a narrow range for MU's earnings estimates, between $2.77 and $2.65, reflecting the stock's maturity and the familiarity of analysts with the company [5]. Group 2: Market Context - The current market environment is reminiscent of the late 1990s dot-com bubble, suggesting potential volatility and the possibility of significant declines following earnings announcements [3]. - MU's upcoming earnings report is seen as a critical event that could either validate or challenge the high expectations set by the recent stock price increase [5][6].