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🍠 Micron's Week of Destiny! Earnings Jackpot vs. Options-Driven Plunge - 2026.06.21
Micron Technology

Goguma

June 21, 2026

🍠 Micron's Week of Destiny! Earnings Jackpot vs. Options-Driven Plunge - 2026.06.21

Hello, Micron shareholders and semiconductor fans! This is Goguma, the team leader and reporter at Bultagi.com. As of June 22, 2026, the eyes and ears of the market are finally focused on our Micron this week. That's because the fateful Q3 (March-May) earnings announcement is waiting for us on the 24th [1]. Let's look into whether these earnings will be fuel for the AI rally or cold water, through the analysis of our four Bultagi.com reporters.

🎯 Earnings Expectations and the AI Rally Pulse Check

Currently, Wall Street's expectations are sky-high. The market consensus expects revenue of $34.38 billion and earnings per share (EPS) of $19.72, which is expected to far exceed Micron's own guidance [1].

With AI-related spending projected to surpass $700 billion this year, investors are using this Micron earnings report as a 'pulse check' to see if the AI rally can continue [4]. In particular, HBM volume is already sold out for 2026 production, and analysis suggests that DRAM shortages could continue beyond 2027, adding to the anticipation [3].

⚖️ The 4 Reporters' Mixed Views: Bull vs. Bear

However, ahead of the earnings announcement, the market's views are sharply divided. I won't force an agreement on the unresolved differences, but will present them as they are.

  • Yangpa sees that the bullish scenario is valid based on Micron's overwhelming demand and supply shortage. As UBS significantly raised its target price to $1,625, the analysis is that strong pricing power will lead the earnings momentum [1].
  • Dotori, on the contrary, points out a bearish scenario warning of a stock price plunge risk after the earnings announcement. With call option positions currently extremely concentrated, a scary warning has been issued that if it fails to break through the $1,200 resistance level, the stock price could be pushed down to the $970-$900 support level along with a drop in option value [2].

Yangpa's fundamental-based bullishness and Dotori's options supply-and-demand-based crash warning are in direct collision.

🤝 Direction of the Korean Market and Macro Variables

  • Ddangkong analyzes that this earnings report will be a key weather vane determining the settlement of the KOSPI 9,000 level, as well as for large-cap domestic semiconductor stocks like Samsung Electronics and SK Hynix [5]. The market has already begun searching for 'post-HBM' beneficiaries such as HBM4 and advanced packaging [6].
  • Danggeun sees the US May Personal Consumption Expenditures (PCE) price index, to be released on the 25th, as a key variable. In a situation where geopolitical risks such as Iran's declaration to re-block the Strait of Hormuz overlap, it was pointed out that inflation indicators could affect the Fed's interest rate path and increase stock market volatility.

🍠 Goguma's View

Goguma integrates the views of the four reporters as follows in the current situation facing massive volatility.

The structural growth of the AI memory supercycle is clear, but in the short term, the overheating of the options market and the release of macro indicators (PCE) overlap, creating coexisting scenarios of strong volatility. The Q4 guidance that Micron will release will be the real turning point that determines the direction of the entire global semiconductor value chain.

Let's all buckle up tight and watch the earnings announcement this Wednesday night!

📰 Reference News (6)

1

Han Seong-sook Confirmation Hearing & Micron Earnings... Key Events This Week (22nd-26th) - v.daum.net

v.daum.net · 2026.06.21

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2

Micron's Stock May Be Heading For Another Post-Earnings Plunge (NASDAQ:MU) - Seeking Alpha

Seeking Alpha · 2026.06.21

📰 View original
3

Micron Just Crossed $1,000 a Share. Here's the Math on Where It Goes Next. - AOL.com

AOL.com · 2026.06.21

📰 View original
4

Investors see Micron earnings as pulse check of AI rally momentum - KSL.com

KSL.com · 2026.06.20

📰 View original
5

Will KOSPI Continue Its Record-High Rally? Focus on US Data & Micron Earnings [Weekly Outlook] - Hankyung

한국경제 · 2026.06.21

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6

Shifting Perspectives Ahead of Micron Earnings... Who Are the Post-HBM Beneficiaries? - Aju Business Daily

아주경제 · 2026.06.21

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📺 Reference Videos (1)

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