Wednesday, June 24th 2026

Micron Technology, Inc. Reports Record Results for the Third Quarter of Fiscal 2026

Micron Technology, Inc. (Nasdaq: MU) today announced results for its third quarter of fiscal 2026, which ended May 28, 2026.

Fiscal Q3 2026 highlights
  • Revenue of $41.46 billion versus $23.86 billion for the prior quarter and $9.30 billion for the same period last year
  • GAAP net income of $28.24 billion, or $24.67 per diluted share
  • Non-GAAP net income of $28.86 billion, or $25.11 per diluted share
  • Operating cash flow of $25.39 billion versus $11.90 billion for the prior quarter and $4.61 billion for the same period last year
Sanjay Mehrotra, Chairman, President and CEO of Micron Technology"Micron's record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era,". "Micron is investing at record levels in technology, products and supply to address our customers' rapidly growing demand. We believe our multi-year Strategic Customer Agreements will significantly enhance the durability and predictability of Micron's strong financial performance."
For the third quarter of 2026, investments in capital expenditures, net were $7.1 billion and adjusted free cash flow was $18.3 billion. Micron ended the quarter with cash, marketable investments, and restricted cash of $30.2 billion. On June 24, 2026, Micron's Board of Directors declared a quarterly dividend of $0.15 per share, payable in cash on July 21, 2026, to shareholders of record as of the close of business on July 6, 2026.

Product highlights
  • HBM4, built on 1-beta DRAM technology, is in high-volume shipments for our lead customer's platform, and qualification samples have been shipped to multiple end-customers.
  • Development of HBM4E, built on 1-gamma DRAM technology, is well underway, with volume production expected in calendar 2027.
  • Qualification samples of 256 GB DDR5 RDIMMs, built on 1-gamma DRAM technology and advanced 3D die stacking, has shipped to key server ecosystem enablers.
  • Our LP5X SOCAMM2 products are in high-volume production, and we have expanded our LP5X SOCAMM2 offerings across multiple capacity points.
  • G9-based PCIe Gen 6 high-performance SSD is now in high-volume production.
  • We commenced shipments of our high-capacity 245 TB QLC SSD.
  • Gen 5 QLC PC Client SSD with G9 NAND has achieved successful lead customer qualification.
  • 1-gamma 16 Gb LPDDR5X has begun high-volume ramp at a leading smartphone OEM, and we are currently sampling our 1-gamma 24 Gb LP5X product to multiple smartphone customers.
  • 1-gamma LPDDR5 reached automotive product readiness, with samples delivered to key customers, and we shipped our first 1-gamma DDR5 samples to a robotaxi customer.
  • G9-based UFS 4.1 automotive NAND solution began first volume shipments.
Investor Webcast
Micron will host a conference call on Wednesday, June 24, 2026 at 2:30 p.m. Mountain Time to discuss its third quarter financial results and provide forward-looking guidance for its fourth quarter. A live webcast of the call will be available online at investors.micron.com. A webcast replay will be available for one year after the call.
Source: Micron Investor Relations
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13 Comments on Micron Technology, Inc. Reports Record Results for the Third Quarter of Fiscal 2026

#1
TheLostSwede
News Editor
Their investor relations website has crashed due to all the traffic, hence the ugly numbers from the press release, rather than some slides from the presenation.
Posted on Reply
#2
Aquinus
Resident Wat-man
TheLostSwedeRevenue of $41.46 billion versus $23.86 billion for the prior quarter and $9.30 billion for the same period last year
That's a pretty wild metric.
Posted on Reply
#3
_JP_
Their margins growth over a year is baffling. :wtf:
Posted on Reply
#4
AusWolf
Of course they report record results after they just pumped a lot of cash into a major AI company (Anthropic) who then bought a whole bunch of RAM from them using that cash.

This is how circular investing works. Push a mountain of cash to the left. Then push it to the right. Bam! Now you have two mountains of cash.

Welcome to 2026, people.
Posted on Reply
#5
Upgrayedd
AusWolfOf course they report record results after they just pumped a lot of cash into a major AI company (Anthropic) who then bought a whole bunch of RAM from them using that cash.

This is how circular investing works. Push a mountain of cash to the left. Then push it to the right. Bam! Now you have two mountains of cash.

Welcome to 2026, people.
all these data centers being built are being way over built too. If the proper supplies aren't available they just keep moving up in grades until they are.
Posted on Reply
#6
framebuffer
TheLostSwedeTheir investor relations website has crashed due to all the traffic, hence the ugly numbers from the press release, rather than some slides from the presenation.
would be fun if it went out-of-memory :)
Posted on Reply
#7
Wirko
In addition to an almost order of magnitude increase in prices, they are also forecasting a small increase in bit output for this year. Yay.
• In DRAM, we expect industry DRAM bit shipments in calendar 2026 to grow in the low- to mid-20s percentage range, slightly above our prior outlook.
• In NAND, we expect industry NAND bit shipments in calendar 2026 to grow approximately 20%, unchanged from prior expectations.
For the quarter in the financial report:
• Bit shipments up low-single digit percentage range Q/Q [for DRAM]
• Bit shipments increased in mid-single digit percentage range Q/Q [for NAND]
AusWolfThis is how circular investing works. Push a mountain of cash to the left. Then push it to the right. Bam! Now you have two mountains of cash.
The method for increasing the GDP is basically the same, even the mountains are basically the same, you just move them in slightly different directions and decorate your action with slightly different financial statements.
Posted on Reply
#8
Philaphlous
Is there any surprise here? Up 17% premarket... missed that train when I was holding Micron at 200...ugh
Posted on Reply
#9
Wirko
PhilaphlousIs there any surprise here? Up 17% premarket... missed that train when I was holding Micron at 200...ugh
But what caused the huge drop two days earlier?
Posted on Reply
#10
A&P211
AusWolfOf course they report record results after they just pumped a lot of cash into a major AI company (Anthropic) who then bought a whole bunch of RAM from them using that cash.

This is how circular investing works. Push a mountain of cash to the left. Then push it to the right. Bam! Now you have two mountains of cash.

Welcome to 2026, people.
I dont care, they are funding my early retirement.
Posted on Reply
#11
AusWolf
A&P211I dont care, they are funding my early retirement.
And mine... As long as the bubble doesn't burst in spectacular fashion.
Posted on Reply
#12
AusWolf
A&P211
Thank you AI stocks, and thats only this year.
Yeah, that's nice... As long as it doesn't pop.

Where do you invest if you don't mind me asking?
Posted on Reply
#13
A&P211
AusWolfYeah, that's nice... As long as it doesn't pop.

Where do you invest if you don't mind me asking?
With etrade
Posted on Reply
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