Micron Technology (MU) reported a record revenue of $41.46 billion in Q3 fiscal 2026, a 346% year-over-year increase, driven by robust demand in its data center portfolio. The company’s non-GAAP earnings per share (EPS) rose to $25.11 from $1.91 a year earlier. Data center revenues surpassed $25 billion, positioning the business for an annualized rate exceeding $100 billion. Micron’s investments for capacity expansion approached $27 billion for fiscal 2026, signaling a strong focus on long-term growth.
Advanced Micro Devices, Inc. (AMD) also saw substantial growth with Q2 fiscal 2026 revenues climbing 50.1% to $11.54 billion and non-GAAP EPS increasing by 246% to $1.66. The Data Center segment was pivotal, with revenues soaring 107.3% to $6.72 billion, accounting for 58% of total revenues. AMD anticipates an over 80% increase in server revenues for the second half of 2026 and a doubling of Data Center revenues by 2027.
Despite AMD’s growth, Micron’s valuation at a P/E multiple of 5.81 contrasts sharply with AMD’s 39.27, making MU a more attractive investment option based on growth potential and value considerations amidst the expanding AI infrastructure market.
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