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Micron HBM4 Ramps Fast as AI Demand Surges
Micron's HBM4 sales surge and AI-driven memory demand boost profits amid tight supply.
In brief
Micron's HBM4 sales surge and AI-driven memory demand boost profits amid tight supply. HBM4 demand growth and AI infrastructure are driving Micron's high-margin memory cycle. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Q3 Profit Surge
Micron reported $41.46 billion revenue for fiscal Q3 2026, up 74% sequentially and 346% year over year.
AI Memory Boom
Data center memory revenue exceeded $25 billion in Q3, with AI infrastructure driving demand at an annualized rate of over $100 billion.
HBM4 Acceleration
HBM4 12-high volume ramp is twice as fast as HBM3E, with over $1 billion in HBM4 revenue shipped.
NAND Pricing Strength
NAND average selling prices rose in the mid-80% range, supporting overall margins despite DRAM's 76% revenue share.
Strategic Agreements
16 signed strategic customer agreements cover 20% of DRAM volume and one-third of NAND volume over the agreement period.
Q4 Guidance
Micron guides for $50 billion revenue and 86% gross margin in fiscal Q4, testing demand durability and capex discipline.
The big picture
HBM4 demand growth and AI infrastructure are driving Micron's high-margin memory cycle.
