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Micron Posts Record $41.5bn Revenue, Lifting Tech Stocks

June 25, 2026 at 05:33 EDT

Infra & Chips
Finance

Chipmaker Micron Technology on June 24 (US time) reported record fiscal third-quarter results for the period ended May 28, with revenue of $41.46bn and adjusted EPS of $25.11, and the post-earnings stock surge led a rebound across global technology shares.

June 24, 2026 · Micron Technology

Record Quarter as the AI "Memory Supercycle" Hits Full Stride

Micron posts its highest-ever revenue and profit on surging HBM demand for AI accelerators — gross margin more than doubles year-over-year, and shares jump on the news.

$41.46B

Quarterly revenue (record), up from $9.30B a year ago

$28.24B

GAAP net income · diluted EPS $24.67

84.6%

GAAP gross margin, vs 37.7% a year earlier

Revenue, Year Over Year

Quarter ended May 28 — a 4.5× leap from the same quarter last year ($ billions).

$9.30B

Year ago

$23.86B

Prior quarter

$41.46B

This quarter

Segment Gross Margins (Q3)

AI memory demand lifts profitability across every line of business.

Core Data Center

87%

Mobile / Client

87%

Cloud Memory

83%

Automotive / Embedded

79%

The HBM roadmap

Power efficiency and advanced process nodes are the battleground against SK hynix and Samsung.

HBM3E

8-high 24GB · 1.2+ TB/s · 30% lower power

→

HBM4 shipping

1-beta DRAM · 2.0+ TB/s · 20%+ better efficiency

→

HBM4E 2027

1-gamma technology · in development

The bull case

Q4 guidance points to ~$50B revenue and ~86% gross margin. Shares jumped 9–16%, lifting peers like SK hynix and Broadcom — Micron is the emblematic winner of the AI memory supercycle.

The caution

Even a sharp profit surge may not shield the stock from a correction given its elevated valuation. Margins built on tight supply and high memory prices can reverse as the cycle turns.

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