MU Stock Surges 11% After-Hours — Micron’s Q3 Revenue Jumps 346% On Incessant Memory Demand

Micron reported earnings of $25.11 per diluted share in Q3, beating expectations of $20.28 per share.

• Micron expects revenue to be around $50 billion in the fiscal fourth quarter ending August 2026, beating expectations of $42.5 billion.  
• MU forecasts Q4 earnings at $31 per share, much higher than a projection of $24.8.
• The firm’s Q3 earnings and revenue also beat expectations by a wide margin.

Micron Technologies (MU) share price soared 11% after-hours on Wednesday after the company broke past Q3 earnings and revenue estimates by a wide margin and furnished a strong outlook for the upcoming quarter amid soaring demand for memory chips amid AI-fueled shortages. 

Revenue for the quarter ending May 2026 came in at $41.5 billion, a 346% year-on-year jump, and above analyst expectations of $35.3 billion, as per data from Fiscal.ai. Earnings for the quarter came in at $25.11 per share, beating expectations of $20.28 per share. 

Memory costs have surged significantly because a limited number of suppliers are directing their entire manufacturing output toward AI processors that hyperscalers need to run their AI models. While Micron, along with other memory chipmakers, is trying to expand its manufacturing capacity, prices are expected to remain elevated. 

“Micron is investing at record levels in technology, products and supply to address our customers’ rapidly growing demand,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. 

The incessant demand for memory from AI players helped the stock breach the $1 trillion market capitalization earlier this May. Micron competes with South Korea-based Samsung and SK Hynix, U.S.-based Western Digital and SanDisk in the memory space, and Nvidia, AMD, Intel, and Qualcomm in the PC and mobile markets. 

MU Stock: Q4 Outlook 

Micron’s earnings and revenue outlook for the current quarter ending August 2026 also blew past expectations. MU expects revenue of $50 billion in Q4, significantly higher than the $42.5 billion analysts polled by Fiscal.ai expect. 

The memory chip maker expects Q4 earnings of $31 per share, beating the $24.80 per share consensus. 

MU Stock: Retail View

Retail sentiment on Stocktwits was ‘extremely bullish’ with ‘high’ message volumes and retail chatter on MU stock has surged over 1,200% over the past month. 

On Stocktwits, the retail sentiment for DRAM shifted to ‘extremely bullish’ from ‘bullish,’ while the sentiment for MU turned ‘bullish’ from ‘neutral.’  

MU stock has soared 274% year-to-date. 

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