Micron Technology (Nasdaq: MU) is expected to report Q2 earnings around March 21. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Micron Technology's revenues will wither -7.1% and EPS will remain in the red.

The average estimate for revenue is $1.92 billion. On the bottom line, the average EPS estimate is -$0.20.

Revenue details
 Last quarter, Micron Technology chalked up revenue of $1.83 billion. GAAP reported sales were 12% lower than the prior-year quarter's $2.09 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, EPS came in at -$0.27. GAAP EPS were -$0.27 for Q1 versus -$0.19 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 11.8%, 280 basis points worse than the prior-year quarter. Operating margin was -7.0%, 370 basis points worse than the prior-year quarter. Net margin was -15.0%, 610 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $8.27 billion. The average EPS estimate is -$0.55.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,132 members out of 1,260 rating the stock outperform, and 128 members rating it underperform. Among 195 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 178 give Micron Technology a green thumbs-up, and 17 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Micron Technology is outperform, with an average price target of $8.91.

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