AI Memory Boom Lifts Micron's Outlook as Demand Outpaces Supply

Micron Technology blew past expectations with fiscal Q3 revenue of about $41.5 billion (up 74% sequential, 346% year over year) and $28.2 billion in net income, prompting a Q4 outlook of roughly $50 billion in revenue and $30.73 per share—well above estimates. The surge is driven by surging demand for high-bandwidth memory used in AI and data-center workloads, giving Micron significant pricing power amid ongoing supply tightness. The company has presold capacity through 2027 and struck strategic customer agreements, supporting a view of a durable AI-memory upcycle that has driven MU higher this year.