Micron Technology, an industry leader in memory and storage solutions, announced record-breaking results for its fiscal third quarter of 2026, which ended on May 28, 2026. The company reported revenue of $41.46 billion, a significant increase from $23.86 billion in the prior quarter and $9.30 billion in the same period last year. Non-GAAP net income reached $28.86 billion, or $25.11 per diluted share, vastly exceeding analyst estimates of $20.49 per share. This financial performance represents a near-quadrupling of revenue year-over-year, primarily attributed to a memory supply crunch and soaring prices fueled by relentless AI data-center demand.
Micron's robust earnings led to a substantial aftermarket surge in its shares, climbing approximately 12.6% to about $1,180.97, recovering from a regular-session close of $1,047.20. This positive momentum extended to other chip stocks, which had previously retreated due to concerns about AI spending. For instance, SanDisk saw an implied gain of roughly 3,952% from its 52-week low to its after-hours price of around $2,110. The SOXX ETF also showed a meaningful recovery in after-hours trading, approaching its 52-week high, partially reversing a two-session drawdown. Analysts are now keenly awaiting Micron's fiscal fourth-quarter guidance for signals on the future trajectory of the memory pricing cycle.
The strong results underscore the strategic importance of memory in the AI era, as highlighted by Micron's Chairman, President, and CEO, Sanjay Mehrotra. He emphasized that the company is making record investments in technology, products, and supply to meet rapidly growing customer demand. Micron's multi-year Strategic Customer Agreements are expected to enhance the durability and predictability of its financial performance. The company also announced a quarterly dividend of $0.15 per share. Operating cash flow for the quarter was $25.39 billion, with adjusted free cash flow at $18.3 billion, and cash, marketable investments, and restricted cash totaling $30.2 billion at quarter-end.
This " さん Investing.com "investing.com and " さん Yahoo Finance "ca.finance.yahoo.com validates the AI memory thesis for investors who navigated recent market volatility. The earnings report was particularly critical as it followed a period where chip stocks broadly, including Micron, experienced significant declines driven by fears of a slowdown in AI infrastructure spending. The record quarter is seen as a key test for restoring investor confidence in the AI chip cycle, with pre-market trading on Thursday, June 25, being the first true indicator of whether the after-hours momentum will be sustained. Beyond the financial figures, commentaries on next-generation HBM4 pricing and details on strategic customer agreements are also being closely scrutinized.
