Micron posts record Q3 earnings as AI demand drives memory sales

Micron announced its fiscal third‑quarter 2026 results after the market close on March 24. Analysts had projected earnings per share of $20.39 and revenue of $35.5 billion; the company reported a record $41.456 billion in revenue, up 345.7 % year‑over‑year, and an EPS increase of 967 % compared with the same period last year. GAAP operating profit reached $33.3 billion.

The surge is attributed to exploding demand for memory and storage chips in AI data centres. Micron also disclosed a strategic agreement with AI firm Anthropic, under which Micron will supply DRAM and NAND products and consider an undisclosed investment in the start‑up. The partnership highlights growing inter‑dependence between AI developers and semiconductor suppliers as memory prices rise and affect consumer‑electronics manufacturers.

Analysts note that the strong earnings and the Anthropic tie‑up signal continued momentum for the memory market, while higher chip costs could pressure makers of laptops, smartphones and gaming consoles.