Investors have spent much of this year riding a monster wave of AI momentum. Now, as all eyes turn to memory-chip maker Micron Technology, which is scheduled to report earnings after the closing bell, we’re left to wonder if there’s still more momentum ahead.
Analysts expect sales of about $35 billion, well beyond the $9.3 billion reported in the same quarter last year. Adjusted EPS forecasts are around $20.57, a giant spike from the $1.91 per share in Q3 2025.
Management’s commentary on demand trends, pricing, and future capacity will likely carry as much weight as the actual earnings figures. In particular, analysts will be looking for updates on high-bandwidth memory, or HBM.
And, according to Rosenblatt, “We expect Micron to report a beat and raise as continued pricing increases, broadening AI demand, and constrained supply extend the memory upcycle. We believe demand remains strong enough to absorb higher pricing without meaningful demand destruction,” as quoted by MSN.
With pre-sales about to start for Grand Theft Auto VI, Take-Two Interactive (NASDAQ: TTWO) has been pushing aggressively higher. Since bottoming out at $206 this month, shares of TTWO rallied to a recent high of $247.42 in anticipation of the long-awaited Grand Theft Auto VI game.
Helping, analysts at BTIG just initiated a buy rating on the stock with a price target of $290 a share, noting that the stock is “firing on all cylinders,” as noted by CNBC.
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Futures are pushing higher this morning as markets attempt to recover from a sharp tech-fueled pullback. At the moment, the S&P 500 is up about 0.32%, or by 23 points. The SPDR S&P 500 ETF (SPY) is up by 0.43%, or by $3.14. The Dow is up by 0.08%, or by 45 points. The Nasdaq is up by 0.63%, or by 186 points. Oil is down by $2.11 at $71.10.
The rebound follows two volatile trading sessions that raised fresh questions about the strength of the AI boom. Semiconductor stocks were hit particularly hard as investors took profits in some of the market’s biggest winners. Concerns about lofty valuations, interest-rate expectations, and geopolitical uncertainty didn’t do much to help either.
Now, all eyes are turning to memory-chip maker Micron Technology, which is scheduled to report earnings after the closing bell. Investors are viewing the report as an important test for the broader AI infrastructure trade. Strong results and optimistic guidance could help restore confidence in semiconductor shares following this week’s pullback, while any disappointment could trigger another round of selling across the sector.
Ahead of the report, TD Cowen recently raised its price target on Micron to $1,500 from $660, with a buy rating. The firm cited strong demand for dynamic random-access memory (DRAM), which continues to outpace supply by a wide margin.
Goldman Sachs did raise its price target on Micron to $900, but kept a neutral rating on the stock. The firm noted, “We believe investor positioning remains very bullish given the dramatic share price run-up and optimism around the potential impact of long-term customer agreements,” they wrote, as quoted by Barron’s. The firm expects “Micron’s earnings—currently boosted by surging demand for high-bandwidth memory (HBM) in artificial-intelligence hardware—to peak in fiscal 2027 at $138.86.”
The market’s recent chaos has also been fueled by uncertainty surrounding Federal Reserve policy. Investors continue to debate whether the central bank will cut rates later this year.
“BofA Global Research and Deutsche Bank expect the U.S. Federal Reserve to raise interest rates in 2026 due to economic resilience and a more hawkish stance under new Chair Kevin Warsh, marking a departure from their prior forecasts of steady rates,” as noted by Reuters. “BofA said it expects the U.S. central bank to raise rates by 25 basis points each in September, October, and December, making the most aggressive rate-hike bet among global brokerages.”
Geopolitical developments remain another key focus. While concerns surrounding tensions in the Middle East have not disappeared, easing fears about major disruptions to global energy supplies have helped oil prices move lower in recent sessions.
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Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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