Overview
- Micron reported on Wednesday that third-quarter fiscal 2026 revenue reached about $41.46 billion and net income was roughly $28.24 billion, far above analyst forecasts.
- The company issued bold guidance for the next quarter of roughly $49–51 billion in revenue and an EPS projection near $30.73, signaling continued demand for memory used in AI and data centers.
- Micron said it signed 16 multiyear customer agreements valuing about $22 billion but some outlets have reported a much larger aggregate figure near $100 billion, a discrepancy that remains unresolved.
- Shares jumped sharply in after-hours trade, pushing Micron’s market capitalization above $1 trillion and triggering a broad rally across memory, storage and semiconductor stocks.
- Management and analysts say tight supply for high-bandwidth memory and cloud DRAM should support prices and margins for years, Micron is investing record capex to expand capacity, and the company expects supply conditions to ease gradually toward 2028.