Overview
- Micron, which reported on Thursday, delivered a Q3 revenue beat of about $41.5 billion and adjusted earnings of $25.11 per share, well above analyst forecasts.
- The company gave an aggressive Q4 guide of roughly $49–51 billion in revenue and $30–32 in EPS and announced a $0.15 quarterly dividend.
- Micron disclosed a strategic supply agreement with AI firm Anthropic and said it took part in Anthropic’s Series H financing, positioning Micron as a preferred storage supplier.
- Markets reacted immediately with the stock jumping about 18–20 percent in pre‑ and after‑hours trading, analysts at Citigroup and JPMorgan raised targets and Asian chip stocks rallied.
- Executives said constrained memory supply and high DRAM/HBM demand should support prices beyond 2027, but analysts warned of heightened volatility, options markets imply large intraday swings, and circular supplier‑investor ties could amplify downside if AI demand cools.