Micron Technology is set to announce its fiscal Q3 2026 earnings on June 24, with analysts projecting adjusted earnings per share between $19.95 and $20.98. This represents a remarkable 1,000% increase year-over-year from last year's EPS of approximately $1.71 to $1.91.
Record revenue of about $33.5 billion is expected for the quarter, surpassing any total the company posted in fiscal 2024.
Gross margins are anticipated to be around 81%. In fiscal Q2 2026, Micron reported revenue of $23.86 billion, up 196% year-over-year, with GAAP net income reaching $13.79 billion.
The demand for high-bandwidth memory driven by AI servers and cloud infrastructure has overwhelmed existing supply chains. Micron, along with Samsung and SK Hynix, is among the few manufacturers capable of producing these advanced memory products.
CEO Sanjay Mehrotra highlighted that Micron is effectively sold out of its key AI memory offerings.
For investors, Micron’s forthcoming results will be a crucial indicator for the semiconductor sector. A successful report could validate the strong and accelerating demand for AI-driven memory, while increased competition from Samsung and SK Hynix may impact Micron's market position over the next 18 months.