Micron shattered Wall Street’s expectations for its May quarter, posting a record $41.46 billion in revenue and adjusted earnings per share of $25.11. The blowout results and strong forward guidance drove the company’s shares up 14% in after-hours trading, effectively calming lingering market anxieties about sustained AI memory demand.
- Crushed Estimates: Third-quarter revenue surged to $41.46 billion, blowing past consensus forecasts of $35.7 billion, while EPS of $25.11 easily topped expectations of $20.49.
- Explosive Forward Guidance: The company projected revenue for its current quarter to hit roughly $50 billion, far exceeding Wall Street’s consensus estimate of $43.2 billion.
- The AI Memory Squeeze: High-bandwidth memory (HBM) supply remains severely constrained, with analysts noting that demand is outpacing production as AI workloads pivot toward memory-heavy inference models.
- Long-Term Revenue Visibility: Micron solidified its market position by securing major multi-year supply contracts, including the industry’s first five-year HBM supply deal.
Following these results, major financial institutions actively updated their outlooks on the stock. You can track current share performance and analysis on Yahoo Finance or review full analyst updates on Investing.com.
Would you like to know more about:
- The price targets set by major Wall Street banks following this report?
- The specific supply chain agreements impacting memory competitors like Samsung and SK Hynix?
- How this earnings beat could affect the broader Nasdaq and semiconductor ETFs?
