Micron Locks In 7 Automotive Suppliers for Future Memory Orders as AI Demand Drives 203% Revenue Jump
Updated
Updated · Yahoo Finance · Aug 9
Micron Locks In 7 Automotive Suppliers for Future Memory Orders as AI Demand Drives 203% Revenue Jump
3 articles · Updated · Yahoo Finance · Aug 9
Summary
July 16 agreements with seven automotive Tier 1 suppliers — including Qualcomm, DENSO and Hyundai Mobis — give Micron longer-term visibility on future memory and storage orders.
Those deals extend Micron’s push toward multiyear pricing and supply contracts, helping blunt the order swings that have historically hit memory makers during downturns.
AI remains the bigger earnings engine: in the first nine months of fiscal 2026, Micron reported $79 billion in revenue, up 203% year over year, and $47 billion in net income.
Investors have still turned cautious after Micron’s stock fell about 30% from its June peak, reflecting fears that memory supply could again outpace demand and that rivals including Samsung, SK Hynix and China’s CXMT may pressure pricing.