Micron Technology (Nasdaq: MU) is expected to report Q1 earnings on Dec. 20. 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 wane -4.0% and EPS will remain in the red.

The average estimate for revenue is $2.01 billion. On the bottom line, the average EPS estimate is -$0.20.

Revenue details
 Last quarter, Micron Technology recorded revenue of $1.96 billion. GAAP reported sales were 8.3% lower than the prior-year quarter's $2.14 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 -$0.24. GAAP EPS were -$0.24 for Q4 versus -$0.14 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 11.2%, 380 basis points worse than the prior-year quarter. Operating margin was -7.4%, 430 basis points worse than the prior-year quarter. Net margin was -12.4%, 610 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $8.64 billion. The average EPS estimate is -$0.29.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,155 members out of 1,280 rating the stock outperform, and 125 members rating it underperform. Among 215 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 188 give Micron Technology a green thumbs-up, and 27 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 $9.78.

Is Micron Technology the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-dollar Revolution." Click here for instant access to this free report.