Micron Smashes Estimates with $41.46B Q3 Revenue, Stock Jumps 15% on AI Memory Demand

What happened

Micron reported fiscal Q3 2026 revenue of $41.46B on June 24 vs $35.84B estimated — quadrupling year-over-year — driven by HBM and AI memory demand. Shares jumped 15% in extended trading.

Context and impact

The results reassured investors after a mid-week AI-trade selloff. They confirm hyperscalers are still spending on AI capex and HBM demand keeps growing. DRAM stocks rallied broadly (>4% pre-Micron), and SK Hynix continued its run.

Details

• Revenue >4× year-over-year
• Forecast also exceeded expectations
• Came after mid-week "chip-wreck" selloff in AI names
• Broad lift across the global DRAM complex
• Confirms continued AI capex from hyperscalers