Micron Technology reports fiscal Q3 revenue of $41.5 billion, tripling year-over-year, driven by AI chip demand and supply constraints.
Micron Technology posted fiscal third-quarter revenue of $41.5 billion, nearly 4.5 times higher than the year-ago period and well above the $35.1 billion consensus estimate. Earnings per share soared to $25.11, a 13-fold increase, surpassing the $20.39 estimate.
The surge was fueled by strong demand for memory and storage chips used in AI accelerators and data centers, alongside supply constraints. Non-GAAP gross margin reached 84.9%, up from 39% a year earlier, with expectations to rise further to 86% in the current quarter.
Micron’s guidance for the next quarter includes revenue of $50 billion at the midpoint, signaling another quadrupling of year-over-year growth. The company’s stock has climbed 259% in 2026, reflecting its position in the AI-driven semiconductor boom.