Micron Technology Reports Strong Earnings, Forecasts Robust Revenue Growth

SYRACUSE, New York – Micron Technology reported better-than-expected earnings and revenue on Wednesday, illustrating robust demand for its high-bandwidth memory (HBM) chips. The company is forecasting fourth-quarter revenue to be about $10.7 billion, up 38% from $7.75 billion a year earlier and surpassing analysts’ estimate of $9.9 billion.

In the previous third quarter, Micron saw data center revenue more than double as total sales surged 37% from $6.81 billion in the same quarter last year. CEO Sanjay Mehrotra attributed this growth to “disciplined investments” aimed at strengthening technology leadership to satisfy AI-driven memory demand.

Micron reported a significant increase in HBM chip sales and plans to continue its investments in this segment. The company’s results underscore a broader increase in demand for AI-related chips, especially as several cloud companies, such as Google, have committed substantial investments in AI infrastructure.

“We see healthy demand for the second half of the calendar year,” said Micron Chief Business Officer Sumit Sadana. He noted that the earlier concerns regarding tariff-related pull-ins from customers were modest and not troubling for the company.

As of Wednesday’s market close, Micron shares had climbed 51% for the year, with many investors optimistic about the company’s strong position in the memory chip sector. Micron expects its market share in HBM chips to match its stake in dynamic random access memory (DRAM) by mid-2025.

The company’s continued expansion into areas such as the “cloud memory business unit” highlights its commitment to satisfying the rising demand for data-intensive tasks. Looking ahead, Micron anticipates fourth-quarter revenue to land within the range of $10.4 billion to $11 billion, easily exceeding analyst expectations.