Micron’s fiscal Q3 revenue hit $41.46 billion, up 350% year-over-year, driving unanimous analyst upgrades to strong buy.
Micron Technology’s stock soared to a new all-time high after reporting fiscal third-quarter revenue of $41.46 billion, a 350% year-over-year increase. Earnings per share reached $25.11, exceeding expectations by nearly $5. The company’s market capitalization now approaches $1.3 trillion, a sharp rise from its prior perception as a commoditized memory business.
The results mark a continuation of Micron’s strong performance, with sequential revenue growth of 74%. Analysts had anticipated a solid report but were surprised by the magnitude of the beat. The stock had gained over 700% in the past year before the latest earnings release.
Following the report, Wall Street analysts unanimously upgraded Micron to a strong buy rating, citing significant upside potential despite the stock’s recent rally. The upgrades reflect confidence in sustained growth amid robust demand for memory and storage solutions.