Micron Reports Record Revenue, AI Memory Demand Soars
Micron Technology (NASDAQ: MU) achieved a record fiscal third-quarter revenue of $41.46 billion, a 346% increase year-over-year, driven by high-bandwidth memory (HBM) for artificial intelligence (AI) accelerators. The quarter ended on May 28, 2026, and showed a gross margin of approximately 85%. Micron’s entire supply of HBM for 2026 is sold out, with the company currently fulfilling only half to two-thirds of customer demand.
In contrast, Nvidia (NASDAQ: NVDA) saw a slight decline in stock value of about 1.6% despite Micron’s strong performance. Nvidia reported an 85% revenue increase to $81.6 billion for its fiscal first quarter of 2027, indicating that the growing demand for AI-driven products is likely to continue. Micron’s latest HBM4 product is ramping production twice as fast as its predecessor, signaling strong future prospects for both companies in the AI market.
For the upcoming fiscal fourth quarter, Micron projects revenue of $50 billion, a 20% increase from the previous quarter. CEO Sanjay Mehrotra emphasized the critical role of memory in the evolving AI landscape.
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