$MU Pre-Earnings Update

Massive print for Micron after the bell tonight.
The market has this priced for absolute perfection.
Expectations are wild: ~$35.5B in revenue, EPS around $20.76, and record ~81% margins.
Everyone knows their 2026 HBM supply is completely sold out thanks to the AI craze.
But look at the chart.
We've cooled off from the $1,200+ highs and price is just hovering right above the $1,000 psychological support.
Options makers are bracing for pure chaos.
They’re pricing in a massive 13% implied move for the event.
That’s a violent $130 whip in either direction waiting to happen.
A standard earnings beat simply won't cut it today.
If their forward guidance doesn't aggressively feed the AI hype machine, the tape will punish it.