Key Points
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Micron Technology (NASDAQ: MU) reported a fiscal Q3 2026 revenue of $41.46 billion on June 24, significantly exceeding the $35.84 billion expected by analysts. This marks a substantial increase from $9.3 billion in the previous year.
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The company also posted adjusted earnings per share of $25.11, surpassing the anticipated $20.78.
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Micron’s stock gained 18.9% in June, while the S&P 500 and Nasdaq Composite saw declines of 1.1% and 2.8%, respectively.
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Currently, Micron’s shares are down approximately 19.6% from their lifetime high reached in June, amidst a broader sell-off of AI chip stocks.
Investors have expressed concerns following Meta Platforms’ announcement regarding an AI processing service, contributing to shifts in the market. As such, Micron’s valuation has come under pressure despite a strong demand outlook for memory chips.
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