Micron Delivers Much Needed Drop the Mic Quarter to Alleviate Memory Concerns

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Micron Delivers Much Needed Drop the Mic Quarter to Alleviate Memory Concerns

Industry Note

June 24, 2026 Disruptive Technology

Micron Delivers Much Needed Drop the Mic Quarter toAnalysts

Dan Ives Alleviate Memory Concerns

(212) 344-2073

Dan.Ives@wedbush.com

Steven Wahrhaftig Tech investors will be in a very positive mood and breathe a sigh of relief with the(212) 931-7059

steven.wahrhaftig@wedbush.com tech stalwart Micron flexing its muscles with its stellar earnings report. Micron

Sam Brandeis reported its FY3Q26 earnings after the bell featuring strong beats across the board

(212) 222-3005 with Q4 guidance that beat Street and buyside expectations across the board as

sam.brandeis@wedbush.com the company continues to see rapidly growing demand for its memory portfolio.

Anish Jog Revenue came in at $41.5 billion (up 74% q/q) well above the Street’s $35.9 billion

(917) 747-3095 estimate with its data center revenue now reaching an annualized run rate of ~anish.jog@wedbush.com

$100 billion. Demand for its NAND and DRAM continues to significantly exceedMatthew Ricapito

(929) 259-2049 industry supply with the company expecting continued tight conditions with more

matthew.ricapito@wedbush.com investors lining up behind the velvet ropes for its memory chips. The company

also noted that it signed 16 strategic customer agreements with 14 of these deals

having a cumulative revenue at minimum price per contract of ~$100 billion over

the remaining agreement term. Gross margin for the quarter came in at 84.9% well

above the Street’s 81.7% estimate, pointing to the company’s pricing power that is

expected to continue into future quarters. Earnings per share came in at $25.11 (up

106% q/q) well above the Street’s $20.86 despite increasing its operating expenses