Micron Technology reported a 346% year-over-year revenue increase, with gross margins reaching approximately 85%. In fiscal Q3 2026, the company generated $41.46 billion in revenue, with data center operations contributing over $25 billion. Projections for Q4 suggest revenue of approximately $50 billion.
The company's HBM4 memory, designed for Nvidia's Vera Rubin platform, has already generated over $1 billion in revenue. Production of HBM4 is scaling at twice the speed of the previous HBM3E generation. Micron has confirmed that its entire HBM supply for 2026 is fully sold out under multi-year contracts.
CEO Sanjay Mehrotra noted that tight HBM supply conditions are expected to last beyond 2027, with potential improvements in 2028. To expand capacity, Micron plans capital expenditures exceeding $25 billion. Analysts anticipate 84% revenue growth for the company in fiscal year 2027.
Micron has secured 16 strategic agreements with take-or-pay provisions, totaling $22 billion in commitments and deposits. These contracts, alongside nearly $100 billion in total remaining performance obligations, provide a revenue floor. Some analysts suggest that revenue may shift to fiscal 2027 based on Nvidia's production timelines.
