Micron Technology (NASDAQ:MU) surged after blowout Q3 results and bullish Q4 guidance, reporting massive revenue, profits and an 84–86% gross margin while securing $22B in customer commitments and boosting U.S. capex to $250B+ (including a $3B wafer push) as AI demand fuels its rise.
Previous Week Recap
- Micron Revenue, Profit Beat; $22B Commitments: Micron (MU) swung wildly after June 25 results: revenue and profit beat estimates, $22B customer commitments, boosted U.S. capex plans to $250B+ through 2035 and a $3B wafer initiative.
- Micron Q3 Revenue Beat; High Guidance: Micron (MU) Q3 revenue $41.46B vs $9.30B year-ago; non-GAAP EPS $25.11, gross margin 84.9%. Q4 guide: revenue ~$50B, EPS ~$31, gross margin ~86%.
- Micron U.S. Investment Up; NY Project 2030: Micron raised its U.S. investment target to $250B from $200B and reaffirmed the $100B New York project, with New York plant not expected to start production until 2030.
- Jefferies: Micron Top AI-Hardware Pick: Jefferies names Micron Technology (MU) a top AI-hardware play, noting memory-chip makers like Micron benefit from sustained AI capex and rising demand for compute components in AI infrastructure.
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