Micron’s $50 billion revenue guidance for Q4 exceeds Wall Street expectations by $7 billion, driven by tight HBM supply and margin expansion.
Micron Technology (MU) guided fiscal fourth-quarter revenue to $50 billion, $7 billion above Wall Street’s $43 billion consensus. The company’s GAAP gross margins surged from 38% to 85% year over year, reflecting pricing power in high-bandwidth memory (HBM) rather than volume growth.
The beat stems from tight supply conditions in data center and HBM markets, with CEO Sanjay Mehrotra citing multi-year Strategic Customer Agreements as evidence of durability beyond typical memory cycles. Analysts noted the shift resets industry expectations, as pricing—not unit sales—drives the upside.
Shares closed at $1,213.56 on June 25, a 15.74% single-day gain and an all-time high. Year-to-date, MU is up 275%, outpacing peers in the semiconductor sector.