AI memory giant Micron is set to announce its fiscal second-quarter earnings results after Wednesday’s closing bell. The company has established a strong track record of surpassing earnings estimates, delivering a trailing four-quarter average earnings surprise of over 14%. But with markets showing enhanced volatility lately, is MU a buy ahead of the release?

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Analysts are expecting Micron to post earnings of $8.80 per share, reflecting a 464.1% surge versus the same quarter last year. Revenues are anticipated to jump nearly 140% during the quarter to $19.3 billion. The stock remains a Zacks Rank #1 (Strong Buy).

Micron (MU Quick QuoteMU - Free Report) is benefitting from the rapidly expanding AI-driven memory and storage markets. Its products are increasingly being adopted by major hyperscalers and enterprise customers.

The company is cash-rich with a strong balance sheet and repurchased $300 million of stock in Q1. Our proprietary model predicts a positive earnings surprise for the upcoming announcement.