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Micron Technology reports record Q3 revenue as AI demand surges, yet stock drops 30%
Micron Technology announced fiscal third‑quarter revenue of $41.5 billion, a rise from $9.3 billion a year earlier, and diluted earnings per share of $24.67. CEO Sanjay Mehrotra said AI‑driven demand and structural supply constraints will keep memory markets tight beyond 2027. The company also secured long‑term customer agreements worth roughly $100 billion through 2030 and increased its U.S. manufacturing investment to over $250 billion, including a new fab in New York.
Despite the strong results, Micron’s share price fell about 30 % after a disappointing earnings report from rival SK Hynix, prompting investors to sell. The decline affected semiconductor‑focused ETFs, with the VanEck Semiconductor ETF (SMH) down 7.9 % over the month, while the broader Invesco QQQ Trust (QQQ) slipped 1.8 % and the Vanguard Information Technology ETF (VGT) rose 0.4 %.
Analysts note Micron’s valuation remains low, trading at a forward price‑to‑earnings ratio near 5, well below the tech sector average, suggesting the market may be over‑reacting to the rival’s miss rather than a fundamental weakness in Micron’s AI‑driven growth.
Entities
AerCap Holdings N.V. · Ecolab Inc. · Empowered Funds LLC · Genpact Limited · Glenmede Trust Co. NA · Invesco QQQ Trust · Invesco QQQ Trust (QQQ) · Micron Technology · Micron Technology Inc. · Rathbones Group PLC · SK Hynix · Sanjay Mehrotra
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Micron expects tight memory market conditions to persist beyond calendar 2027 due to AI‑driven demand and supply constraints. www.fool.com · bitnewsbot.com
- [○ 1 SOURCE] Micron's fiscal Q3 diluted earnings per share were $24.67. www.fool.com
- [○ 1 SOURCE] Micron's stock price fell about 30 % after SK Hynix's earnings miss. bitnewsbot.com
- [○ 1 SOURCE] Micron secured long‑term customer agreements representing near $100 billion of minimum revenue commitments through 2030. bitnewsbot.com
- [○ 1 SOURCE] Invesco QQQ Trust (QQQ) dropped 1.8 % and Vanguard Information Technology ETF (VGT) rose 0.4 % over the same period. www.brasilemfolhas.com.br
- [● 3 SOURCES] Micron Technology reported fiscal Q3 revenue of $41.5 billion, up from $9.3 billion the prior year. www.fool.com · bitnewsbot.com · www.brasilemfolhas.com.br
- [○ 1 SOURCE] Micron increased its planned investment in U.S. manufacturing facilities to more than $250 billion, including a new fab in New York. www.fool.com
- [○ 1 SOURCE] The VanEck Semiconductor ETF (SMH) fell 7.9 % over the month following Micron's share price decline. www.brasilemfolhas.com.br