Micron Technology posts record AI‑driven profits and eyes humanoid‑robot market

Micron Technology reported an historic profit surge driven by soaring demand for its memory chips in AI data centers, projecting $50 billion revenue for the fourth quarter and operational margins above 80% in its AI‑focused segment. CEO Sanjay Mehrotra said the company's next long‑term growth driver could be the emerging humanoid‑robot market, estimating a $200 billion industry within a decade.

Analysts forecast a multidecade memory demand cycle that will outpace the current AI‑driven surge, while the company's stock has rallied more than 240% in 2026. Risks highlighted include tight chip supply, potential software alternatives that reduce memory use, possible slowdown in hyperscaler AI‑capex, and growing competition from Chinese chipmakers.

Investor Michael Burry opened a short position on Micron in early July, betting against the stock after it fell from over $1,200 to around $975 per share.