Micron Technology is set to announce its Q3 earnings, with expectations of $35.25 billion in revenue and $20.28 in EPS, marking a 279% increase from the previous year. The semiconductor company has consistently surpassed estimates in the last eight quarters, largely due to rising demand for AI memory chips, which has seen its shares surge by 270% this year. Analysts are optimistic, noting strong DRAM pricing and limited industry capacity, with numerous upward revisions in revenue and EPS forecasts. Investors are particularly focused on updates regarding DRAM and NAND pricing, future capacity commitments, and potential supply agreements extending into 2028.

Oops, something went wrong

Skip to navigation Skip to main content Skip to right column

hub banner

Micron's AI Memory Boom Faces Key Test

Moz Farooque ACCA

Tue, June 23, 2026 at 3:03 PM EDT1 min read

MU-13.18%

This article first appeared on GuruFocus.

Micron Technology ( NASDAQ:MU) heads into earnings Wednesday with investors looking for more than just another beat. The memory giant's results are expected to offer one of the clearest reads yet on AI spending, semiconductor demand and whether the industry's momentum can continue into 2027 and beyond.

Wall Street expects Micron to report Q3 revenue of $35.25 billion and EPS of $20.28, representing growth of roughly 279% from a year ago. The company has beaten both revenue and earnings estimates in each of the last 8 quarters, raising expectations yet again heading into the report.

Micron shares have surged about 270% this year as demand for AI memory chips continues to outstrip supply. Analysts remain broadly bullish, pointing to strong DRAM pricing, tight industry capacity and robust AI demand. Over the past 3 months, analysts have issued 19 upward EPS revisions and 20 upward revenue revisions, with virtually no downward changes.

Beyond the headline numbers, investors will be listening closely for updates on DRAM and NAND pricing, capacity commitments for 2027 and whether customers are already locking in supply for 2028.