Micron Posts $41.46 Billion Fiscal Q3 on AI Memory Boom as HBM4 Revenue Tops $1 Billion
Updated
Updated · 24/7 Wall St. · Aug 31
Micron Posts $41.46 Billion Fiscal Q3 on AI Memory Boom as HBM4 Revenue Tops $1 Billion
3 articles · Updated · 24/7 Wall St. · Aug 31
Summary
$41.46 billion in fiscal Q3 revenue beat consensus by 17.6%, while EPS of $25.11 topped estimates by 23.79% and gross margin reached 84.6%.
HBM4 shipments drove the outperformance: Micron said the product is ramping twice as fast as HBM3E 12-high, with more than $1 billion in HBM4 revenue already shipped.
$50 billion in fiscal Q4 revenue and $31 EPS guidance point to further momentum, supported by 16 strategic customer agreements covering roughly $100 billion in minimum revenue.
$10 billion in Q4 capex and about $27 billion for FY26 highlight the main risk, as management also signaled a meaningful moderation in the pace of memory price increases.
Shares have surged 227.05% this year and 665.88% over 12 months, leaving the stock near fair value for some analysts despite the still-intact AI memory thesis.