Micron Technology posts record earnings as stock slips and becomes top holding in memory ETF

Micron Technology reported a record fiscal third quarter for 2026, posting $41.5 billion in revenue and adjusted earnings of $25.11 per share, with a gross margin near 85 %. Management forecast fourth‑quarter revenue of about $50 billion and earnings of roughly $31 per share, indicating continued growth driven by high‑bandwidth memory demand for artificial‑intelligence servers.

Despite the strong results, Micron's shares fell about 22 % from their June high, pressured by a broader chip‑stock sell‑off after cautious AI‑demand commentary. The company also announced a quarterly dividend of $0.15 per share, payable on July 21.

Institutional investors adjusted their positions: Osborne Partners Capital Management sold 1,035 shares, cutting its stake by 57 %; Hodges Capital Management reduced its holding by 31 %; while other funds such as Norges Bank, AQR Capital, Arrowstreet and Vanguard increased theirs. Overall, roughly 80 % of Micron’s stock is owned by hedge funds and other institutional investors.

The Roundhill Memory ETF (DRAM), launched in April 2026, allocated about 75 % of its assets to three memory‑chip makers, with Micron comprising roughly 26 % of the fund’s holdings, highlighting the company's central role in the sector.