Micron Projects Record Revenue as AI-Driven Memory Demand Soars

Micron Technology beat Wall Street's Q3 estimates with $41.5B revenue and forecast Q4 at $50B as AI-fueled demand for high-bandwidth memory chips tightens supply. The only U.S. high-end memory maker expects constraints beyond 2027 and plans $10B in capital spending.

2026-06-24T21:46:19.158Z

Micron Technology delivered third-quarter revenue of $41.46 billion, far exceeding the $35.85 billion Wall Street estimate. Adjusted profit hit $25.11 per share, compared to an expected $20.78.

Looking ahead, the company forecast fourth-quarter revenue of $50 billion, plus or minus $1 billion - well above the $43.58 billion consensus. Micron expects adjusted earnings per share of $31, versus analyst projections of $25.84.

CEO Sanjay Mehrotra attributed the surge to explosive AI infrastructure demand, turning high-bandwidth memory (HBM) into a critical component for data centers. As the only U.S.-based maker of high-end memory chips and a key supplier to Nvidia, Micron sees demand outstripping supply for years. ‘We expect tight conditions to persist beyond calendar 2027,’ Mehrotra said.

The company plans to ramp capital spending to around $10 billion in the fourth quarter, up from the $8.89 billion analysts anticipated. Shares jumped more than 9% in extended trading.