Micron Technology reported a Q3 FY2026 revenue of approximately $41.46 billion, more than four times last year's figure and well above the analyst consensus of $35.84 billion [1, 2, 3, 4]. The company’s net profit surged to $28.24 billion from $1.89 billion a year ago, with adjusted earnings per share (EPS) of $25.11 also beating estimates [1, 2, 3, 4].
Micron forecast Q4 revenue of about $50 billion, exceeding analysts’ $43.58 billion estimate, driven largely by growing AI demand for memory chips [1, 2, 3]. Sanjay Mehrotra, Micron's CEO, said the memory supply-demand imbalance will last through at least 2028 despite planned capacity expansions. "客户已经意识到，存储器与存储产品的供应紧张局面不会在短时间内得到根本的改善，即使这个行业的产能预计将在2028年之前逐步增加，它的供需失衡状况仍将持续一段时间," he said [1].
The company’s data center segment revenue grew nearly sevenfold year on year to about $11.5 billion, fueled by AI and cloud storage needs [1, 4]. Micron signed 16 long-term supply agreements valued at roughly $22 billion covering three to five years. CFO Mark Murphy said, "这些长期订单能够让公司更清晰掌握未来需求趋势，并为产能扩张和资本投资提供更高确定性" [1].
On June 22, Micron announced a strategic partnership with AI startup Anthropic to supply memory and storage products including high-bandwidth memory (HBM), DRAM, and solid-state drives for AI model training and inference [5, 6]. Anthropic co-founder and CTO Thom Brown noted, "我们的运算策略取决于将整个技术堆栈的每一层都做到最好，而记忆体与储存系统对于我们有效率地训练及提供Claude服务至关重要" [5]. Following the partner announcement, Micron shares jumped 6.8% that day and then surged over 15% in after-hours trading after the Q3 results on June 24 [7, 5, 2, 4].
Over the past year, Micron’s stock has risen about 700%, pushing its market value above $1 trillion [1, 4]. The strength reflects growing AI infrastructure demand benefiting memory suppliers alongside companies like Nvidia and Google [1, 4]. Other semiconductor stocks including SanDisk, Western Digital, Seagate, Marvell, Intel, Arm, and Nvidia rallied in the wake of Micron's report on June 25 [8, 9, 10]. However, some analysts advise caution, warning semiconductor shares may face increased volatility and risk despite Micron’s strong results [11]. BMO Family Office CIO Carol Schleif remarked, "市场意识到，一家公司获利和营收异常强劲，意味着最终会有其他公司为此付出代价" [10].
The broader market showed mixed performance amid US core inflation reaching near three-year highs at 3.4% in May and concerns over Apple raising Mac and iPad prices due to storage cost increases, which pressured the Nasdaq [7, 9, 10, 12]. Geopolitical tensions in the Strait of Hormuz caused oil price fluctuations, further affecting sentiment [7, 10, 12].
Micron’s next reporting milestone will be its Q4 FY2026 earnings, expected to reflect continued strong demand for AI memory products amid an estimated $50 billion revenue quarter [1, 2, 3].
