Micron Raised Its Guidance on Surging Memory Prices. Here's What It Means for the Stock.
Yahoo Finance ·
Micron Technology ( MU +1.11% ) put up more staggering results in its fiscal 2026 third quarter, fueled by the surging demand for its artificial intelligence memory chips. In the period, which ended May 28, Micron generated $41.5 billion in revenue, a 74% increase from the previous quarter and a 346% year-over-year increase. Earnings were equally staggering, with net income up 105% from the previous quarter and up 205% year over year to $28.2 billion. These results shattered analysts' consensus estimates. The chipmaker also issued guidance for its fiscal Q4 that blew analysts' estimates out of the water. The company expects $50 billion in revenue, up 20% from fiscal Q3, and earnings of $30.73 per share, up 25% from the last quarter. Analysts were expecting $42.5 billion in revenue for the current fiscal quarter. The driver of all this growth, of course, is the tech sector's insatiable demand for Micron's high bandwidth memory, or HBM chips, which are used in data center servers to store the massive amounts of information required for AI workloads.
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