Micron reports 345.7% year-over-year revenue growth and lifts Q4 outlook, citing strong AI-driven memory demand.
Micron Technology posted Q3 2026 revenue of $41.46 billion, up 345.7% year over year, with non-GAAP EPS of $25.11 and gross margins at 84.9%. The company raised its Q4 guidance to $50 billion, supported by $100 billion in locked customer agreements.
Shares have fallen 14% over the past week but remain up 199.12% year to date, trading 19% below the 52-week high of $1,254.81. Analysts highlight strong AI-driven demand for memory chips, though CXMT’s planned $8.5 billion IPO poses a competitive risk.
Despite the recent pullback, Micron’s outlook remains bullish, with some analysts maintaining a price target of $928.59, an 8.84% upside from the current $853.20.