Micron surges 15% after Q3 forecast crushes estimates; $33.5B revenue, 81% gross margin
Micron Technology Inc. shares surged after the largest US maker of computer memory chips issued a quarterly sales forecast that crushed Wall Street estimates, signaling that an AI-fueled growth run remains strong. Micron shares soared about 15% after the market close as its quarterly sales forecast crushed Wall Street estimates.
Consensus forecasts Micron's Q3 EPS at $19.72, skyrocketing 932% year-over-year, while revenue is expected to top $34.38 billion, representing a 270% surge year-over-year. The company projects Q3 revenue of $33.5 billion with roughly 81% gross margin.
Research shows that even though manufacturers began capacity expansion last year or even earlier, new market supply will remain highly limited between 2026 and 2027, with Micron's two giant fabs in Idaho and New York not achieving volume shipments until mid-2027 and 2028–2030 respectively. The stock is up 268% year to date and 764% over the past year, riding an AI memory super-cycle that has reshaped the company's earnings power.
Sources
- Primary source
- fool.com
“Micron has set new quarterly revenue records for four consecutive quarters. The company projects Q3 revenue of $33.5 billion.”
- theedgemalaysia.com
“Micron, the largest US maker of computer memory chips, surged 13% after forecasting sales that topped analysts' estimates.”
- 247wallst.com
“The stock is up 268.68% year to date and 763.64% over the past year, riding an AI memory super-cycle that has reshaped the company's earnings power.”