Micron Technology Breaks Records with $41.5B Revenue Amidst AI Memory Boom
Micron Technology (NASDAQ: MU) has delivered what is being hailed as the most significant earnings result in its 47-year history. The chip giant reported fiscal third-quarter 2026 revenue of $41.46 billion. This is a monumental increase from the $9.3 billion reported in the same period a year ago, surpassing Wall Street’s consensus estimate of nearly $36 billion by over $5.7 billion.
The AI-fueled memory boom has driven gross margins to a record 84.9%. Adjusted earnings per share also skyrocketed to $25.11. On Thursday, Micron’s stock surged as much as 19%, briefly pushing the company’s market cap above those of Meta and Tesla.
The company also announced 16 multi-year, take-or-pay Strategic Customer Agreements. These agreements secure roughly $100 billion in minimum contracted revenue and $22 billion in upfront customer cash. This strategic move is designed to stabilize the historically volatile memory industry cycle.
Looking ahead, Micron has projected fiscal Q4 revenue to be in the range of $49–$51 billion. Gross margins are expected to rise further to approximately 86%. The company’s Core Data Center Business Unit, which includes high-bandwidth memory (HBM) for AI accelerators, reported $11.52 billion in revenue at an impressive 87% gross margin.
Other memory-sector stocks rallied in sympathy, with Sandisk gaining nearly 22% and Western Digital adding nearly 5%.
Source: CNBC — Micron soars 15% after blockbuster earnings, lifting some chip stocks