Loading…
Micron reported record third-quarter revenue of $41.4 billion and a 15-fold increase in net profit to $28.24 billion, driven by insatiable demand for high-bandwidth memory used in AI data centers. The results far exceeded analyst expectations, with adjusted earnings of $25.11 per share versus the $20.49 forecast. Source: Euronews
Shares surged over 15% in after-hours trading to around $1,213, pushing Micron's market capitalization to approximately $1.16 trillion. The stock has climbed about 700% over the past year, reflecting a fundamental shift in AI infrastructure economics. Source: Euronews
Micron achieved a gross margin of roughly 85%, rivaling tech giants like Nvidia and Meta. The company attributes this to tight supply, with new fabrication plants not expected to add significant output until 2028. Entire 2026 production of high-bandwidth memory is already sold under fixed-price contracts. Source: Euronews
The company guided next-quarter revenue of about $50 billion and adjusted earnings of roughly $31 per share, indicating the boom is accelerating. Capital spending is planned at $27 billion for the current fiscal year, with further increases expected in 2027. Source: Euronews
“Micron, one of only a handful of companies able to make advanced memory chips at scale, said on Wednesday that revenue in the third quarter reached $41.4 billion (€36.5bn), more than four times the $9.3 billion (€8.2bn) it recorded in the same period last year.”
“The Idaho-based group posted net income of $28.24 billion (€24.9bn), or $24.67 per share, against less than $2 billion (€1.7bn) a year ago.”
“Micron shares rose more than 15% in after-hours trading to around $1,213, leaving the company valued at roughly $1.16 trillion (€1tn).”
“What has startled analysts most is Micron's profitability. The company reported a gross margin of around 85% for the quarter, a level that now rivals or exceeds those of far larger technology names such as Nvidia and Meta.”
“Micron has said its entire 2026 output of these chips is already sold out under fixed-price contracts.”
“The company expects revenue of around $50 billion (€44bn) in the current quarter and adjusted earnings of roughly $31 a share, implying the boom is accelerating rather than fading.”
Oracle cuts 21,000 jobs as it pivots to AI technologies
Xbox to raise prices again in August 2026, discontinue 2TB model
Magnificent Seven stocks lose $2.3 trillion in June sell-off
Nvidia, Microsoft, and Meta urge US to avoid restrictions on open AI models
US data centers for AI face water scarcity as drought expands