Micron Technology Inc. (NASDAQ:MU) reports fiscal fourth-quarter earnings after the bell Wednesday, with investors looking for clues on whether the AI-driven memory boom can keep running into 2027.

Wall Street expects adjusted earnings of $31.45 per share, up from $3.03 a year ago, on revenue of $50.75 billion, up about 349%.

The stakes stretch beyond Micron. FactSet estimates put the company on track to become the biggest contributor to S&P 500 earnings growth this quarter, ahead of Nvidia.

Polymarket gives Micron a 95% chance of reporting adjusted EPS above $32.22, a threshold above both Wall Street consensus and the top of Micron’s own $30-to-$32 guidance range.

The Boise Idaho-based company is expected to report a 351.3% increase in revenue to $51.067 billion from $11.32 billion a year ago, according to the mean estimate from 28 analysts, based on LSEG data.The company's guidance on June 24 2026, for the period ended August 31, was for revenue between 49.00 billion and 51.00 billion.

​LSEG's mean analyst estimate for Micron Technology, Inc. is for earnings of $31.28 per share. The company's EPS guidance on June 24 2026, for the period ended August 31, was between 30.00 and 32.00

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 46 "strong buy" or "buy," 3 "hold" and 1 "sell" or "strong sell."

The mean earnings estimate of analysts was unchanged in the last three months. ​

Wall Street's median 12-month price target for Micron Technology, Inc. is $1,525.00, about 40.9% above its last closing price of $1,082.28

The company's guidance on June 24 2026 for the period ended August 31 was for Capital Expenditures of 10 billion.The company's guidance on June 24 2026 for the period ended August 31 was for gross profit margin of 86%.