Micron Technology reported Q3 revenue of $41.46 billion, topping estimates, and guided for $50 billion next quarter amid strong demand.
Micron Technology posted fiscal Q3 revenue of $41.46 billion, exceeding the $35.84 billion analyst consensus, while earnings per share hit $25.11 versus $20.78 expected. The memory chipmaker also guided for approximately $50 billion in revenue for the current quarter, up from $11.3 billion in the year-ago period.
The results prompted a wave of bullish analyst actions, including Deutsche Bank raising its price target to $1,550 from $1,500 while maintaining a buy rating. The company’s strong performance reflects robust demand for memory and storage solutions, driven by AI and data center growth.
Shares of Micron, listed on the NASDAQ, have seen increased institutional interest following the report, with multiple firms upgrading their outlook on the stock.