AI Memory Surge Leads to Record Quarterly Performance.. Micron's Strong Outlook for Q4

Micron Technology, Inc. (NASDAQ: MU) filed a Form 8-K reporting fiscal 2026 third-quarter results, with revenue of $41.46 billion (approximately ₩58 trillion) and net income of $28.24 billion (approximately ₩40 trillion), marking substantial growth both sequentially and year-over-year. Citing strong AI-related demand and the expansion of new strategic customer contracts, the company guided fourth-quarter revenue of roughly $50 billion (about ₩70 trillion) and non-GAAP diluted earnings per share of around $31. Alongside a quarterly dividend of $0.15 per share payable on July 21, Micron provided updates on technology development and volume production progress for its key product lines, including HBM, DDR5, LPDDR5X, SSDs and automotive memory.

According to the same filing, CEO Sanjay Mehrotra, under a 10b5-1 trading plan established in January, sold several tens of thousands of shares in the open market on June 26, generating proceeds in the tens of millions of dollars (or tens of billions of won). Even after the sale, he retains direct and indirect holdings valued at several hundreds of millions of dollars.

In the aftermath of the CEO’s large share disposal, Micron’s stock experienced a short-term gap down, but Wall Street analysts have raised price targets—citing robust AI memory demand and the strong fourth-quarter guidance—and continue to emphasize the company’s medium- to long-term growth potential. Amid a global memory supply shortage and rising prices, Micron has been signing consecutive long-term supply agreements with major customers for the 2026–2030 period. Management has publicly noted that underinvestment in memory capacity in the AI era has exacerbated the current supply-demand imbalance.

As a leading U.S. memory-semiconductor company, Micron specializes in DRAM, NAND flash and SSDs, and competes with Samsung and SK Hynix as one of the global “big three” with next-generation products such as HBM, DDR5 and LPDDR5X for data centers, AI servers and automotive applications. The company is advancing a major capacity-expansion plan—including about $24 billion (roughly ₩30 trillion) in equipment investment in Singapore—to scale its production capabilities in line with the AI-infrastructure investment boom.