Micron Technology is about to show Wall Street what happens when a memory chip company finds itself at the center of the AI gold rush. The company reports fiscal Q3 2026 earnings on June 24 after market close, and analysts are forecasting year-over-year profit growth of roughly 932%.
That is not a typo. Earnings per share are expected to land around $19.72, compared to $1.91 in the same quarter last year. Revenue projections sit at approximately $34.5 billion, up about 271% from the $9.3 billion Micron generated in Q3 2025.
How Micron became a trillion-dollar company
The company’s meteoric rise traces directly to one thing: high-bandwidth memory, or HBM. This is the specialized memory that sits inside AI accelerators, the chips powering everything from large language models to autonomous driving systems.
Micron’s HBM capacity is completely sold out through the end of 2026. That’s the kind of supply constraint that gives a company serious pricing power, which shows up clearly in the financials.
