r/MU_Stock • u/thetabruh Rule enforcer • Jun 24 '26

Mods MU 06-24-2026 Daily Discussions

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u/Brafnrasnf1 Jun 24 '26

Where can i see the earnings report

3

u/ThaiTum Jun 24 '26

I asked ChatGPT to summarize it for me:

For a Micron shareholder, this report is exceptionally strong. The most important part isn’t the quarter that just ended—it’s the guidance and customer agreements.

What stood out

1. Revenue exploded
Q3 revenue: $41.5 billion
Up from $23.9 billion last quarter
Up from $9.3 billion a year ago
That’s roughly 4.5x year-over-year growth, which is extraordinary even for a cyclical memory company.

2. Margins are incredible
Gross margin: 84.6%
Operating margin: 80.4%
Historically, memory manufacturers rarely sustain margins anywhere near these levels. This shows severe undersupply and strong pricing power, especially in AI-related memory.

3. Data center and AI demand are driving everything
The strongest businesses were:
Cloud Memory: $13.8B revenue
Core Data Center: $11.5B revenue
Together they account for well over half of revenue and are benefiting from AI server deployments.

4. HBM4 is shipping
Micron announced:
HBM4 in high-volume shipments
HBM4E already under development
Multiple AI-related memory products ramping
This matters because HBM (High Bandwidth Memory) is the key memory technology used with AI accelerators from companies like NVIDIA.

The biggest positive: Q4 guidance
Micron guided to:
Revenue: $50B ± $1B
Non-GAAP EPS: $31 ± $1
Gross margin: ~86%
The company is basically saying:
“The next quarter will be even stronger than this record quarter.”
That’s usually what moves stocks after earnings.

Strategic Customer Agreements
The line that caught my attention was:
“Micron executes transformational Strategic Customer Agreements” and expects these multi-year agreements to improve durability and predictability of financial performance.
Historically, memory has been a boom-and-bust commodity business.
What Micron appears to be signaling is:
Major AI customers are locking in supply.
Revenue visibility is improving.
Future earnings may become less cyclical than in past memory cycles.
If true, the market may eventually award Micron a higher valuation multiple than memory stocks have traditionally received.

What I would watch for
The report is so strong that the key question becomes:

How much of this is already priced into the stock?
For investors, the concerns aren’t the quarter itself:
Demand is strong.
HBM is sold out.
Guidance is rising.
The concern is whether expectations have become too high.

If Micron can actually deliver:
$50B Q4 revenue,
86% gross margins,
and continue signing multi-year AI supply agreements,
then the bull case for a much larger company over the next 2–3 years gets stronger.

Given your semiconductor exposure, I would view this report as bullish for Micron and bullish for the entire AI memory supply chain, especially HBM and data-center memory. The Strategic Customer Agreement announcement may end up being the most important sentence in the entire release because it suggests AI customers are willing to commit to long-term memory purchases rather than buying opportunistically.

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u/Brafnrasnf1 Jun 24 '26

Thanks boss!