Micron’s fiscal third-quarter results exceeded expectations, driven by strong AI-related memory chip demand and tight supply conditions.
Micron Technology reported fiscal Q3 revenue of $41.5 billion, a 346% year-over-year increase, as AI-driven demand for memory chips outpaced supply. Earnings per share rose 1,215%, reflecting robust growth in DRAM and NAND flash markets.
Management indicated that supply constraints will persist beyond 2027, fueled by data centers, high-end PCs, and other AI applications. The company’s guidance reinforced expectations for sustained demand in high-performance memory chips.
Micron’s stock surged nearly 16% following the report, lifting shares of semiconductor equipment supplier Lam Research by over 7% as well.