Overview

• Micron reported fiscal third-quarter revenue of $9.3 billion and earnings per share of $1.91, surpassing analyst expectations.
• The company issued fourth-quarter guidance of $10.7 billion in revenue, topping the $9.88 billion consensus forecast.
• UBS raised its price target to $155 from $120 and maintained a Buy rating after HBM revenue and gross margins met or slightly exceeded expectations.
• High-bandwidth memory chips, representing 6–7% of DRAM bits but using 19–20% of production space, are sold out through 2025 with supply shortfalls expected until 2026.
• Micron’s shares have climbed over 55% year-to-date, earning praise from Jim Cramer and leveraging robust liquidity as the only U.S. supplier of leading-edge AI memory for NVIDIA.