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Published On 26 Jul 202626 Jul 2026
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Micron, one of only a handful of companies able to make advanced memory chips at scale, said on Wednesday that revenue in the third quarter reached $41.4 billion (€36.5bn), more than four times the $9.3 billion (€8.2bn) it recorded in the same period last year.
The figure also comfortably beat the roughly $35.7 billion (€31.4bn) analysts had forecast, while profit climbed even more dramatically.
The Idaho-based group posted net income of $28.24 billion (€24.9bn), or $24.67 per share, against less than $2 billion (€1.7bn) a year ago. Adjusted earnings of $25.11 a share sailed past the $20.49 expected.
The market reaction to the impressive results was immediate.
Micron shares rose more than 15% in after-hours trading to around $1,213, leaving the company valued at roughly $1.16 trillion (€1tn).
The stock has now climbed about 700% over the past year, one of the most dramatic re-ratings of any large company through the AI boom, reflecting a fundamental shift in the economics of the AI build-out.
The vast data centres being constructed by hyperscalers such as Amazon, Microsoft, Google and Meta, which have collectively earmarked hundreds of billions of dollars in capital spending this year, depend on enormous quantities of high-bandwidth memory, a specialised chip that sits alongside the processors made by Nvidia and others.
Micron has said its entire 2026 output of these chips is already sold out under fixed-price contracts.
According to CEO Sanjay Mehrotra, the results reflect what he called the strategic value of memory in the AI era.
The company pointed to a series of multi-year customer agreements that it expects to make earnings more durable and predictable, a notable claim in an industry long defined by brutal boom-and-bust cycles.
What has startled analysts most is Micron’s profitability.
The company reported a gross margin of around 85% for the quarter, a level that now rivals or exceeds those of far larger technology names such as Nvidia and Meta, an extraordinary position for a memory maker historically squeezed by volatile chip prices.
The tightness of supply, with new factories not expected to add meaningful output until 2028, has handed producers exceptional pricing power.
Micron’s guidance was more striking still.
The company expects revenue of around $50 billion (€44bn) in the current quarter and adjusted earnings of roughly $31 a share, implying the boom is accelerating rather than fading. It is ramping up investment to match, lifting planned capital spending to about $27 billion (€23.7bn) this fiscal year and signalling a further jump in 2027, management told analysts during the earnings call.
The results offer reassurance to investors betting that AI infrastructure spending remains robust, with Micron’s order book serving as a real-time gauge of that demand.
The open question, as ever in the memory industry, is how long the upswing can last before supply catches up. Even the most bullish observers acknowledge that risk has not completely disappeared.
MILWAUKEE — Teoscar Hernández backpedaled up the line as he watched the flight of his deep fly ball down the left-field line.
It clanged off the left-field foul pole to give the Dodgers the lead for the first time in a game they’d win 11-3.
“It was big,” Hernández said after going three for four with six RBIs, tying a career high. “We took the lead, and that was the best thing. We put less pressure on [starter Roki] Sasaki, so he could keep pitching the way he was pitching after the first inning. So it was a great [fourth] inning.”
The Dodgers’ offense, led by Hernández, came alive after a quiet first game of the series.
His heroics in the comeback victory — which also included a record-setting performance from the bullpen — were a high point in his offensive turnaround the last two weeks.
“I just think that he’s heightened his focus,” manager Dave Roberts said. “I think that his at-bat quality has been considerably better. I don’t think he’s wasting at-bats.
“For me personally, early on, I think that there was a couple of at-bats per night that he was just giving away. And now the last eight days, something like that, I don’t see him giving away any at-bats. And the production has reflected that.”
Hernández’ first hit of the game was made all the more dramatic by the rut the Dodgers started in.
Dodgers pitcher Roki Sasaki throws during the first inning of a win over the Brewers on Saturday in Milwaukee.
(Jeffrey Phelps / Ap Photo/jeffrey Phelps)
Sasaki, coming off his best start of his MLB career against the Angels last week, ran into trouble right away against the Brewers.
Six pitches in, he’d already given up back-to-back doubles en route to the first run. To make matters worse, his own error extended the inning. He got the Brewers’ Andrew Vaughn to chase a low splitter for a swinging bunt up the third-base line. Sasaki barehanded it cleanly but threw behind Vaughn. As the ball caromed off the retaining wall in foul territory, another run scored.
A fielder’s choice and a walk later, pitching coach Mark Prior strode out of the dugout for a mound visit. The Brewers played “Message in a Bottle” over the loudspeakers.
Sasaki answered his own SOS, with some help from his defense. He struck out Jake Bauers. And then in a 2-2 count to Sal Frelick, Sasaki threw a fastball up and out of the zone. Frelick got on top of it to line a single off the end of shortstop Mookie Betts’ glove as he leaped after it.
The single drove in a third run, but center fielder Andy Pages scooped up the ball and caught Gary Sánchez trying to go from first to third on the play, ending the inning.
Then Sasaki held the Brewers scoreless for the next four innings, retiring 10 straight as he bided time for the offense to make up the deficit.
The Dodgers’ Freddie Freeman slides safely past the Brewers’ Gary Sánchez to score a run during the eighth inning Saturday in Milwaukee.
(Patrick McDermott / Getty Images)
“It seemed a little like Groundhog Day that first inning, how it started,” Roberts said. “But for Roki to find a way to get out of it with three runs, and then settle in, settle down — his stuff got better in the third, fourth and fifth innings, and I told him that. Young pitchers, to understand that even if you get hit in the mouth early, you gotta find a way to keep going, so you don’t blow up your bullpen.”
Freddie Freeman got the Dodgers’ fourth-inning rally started with a leadoff double. Then Pages drove him in by roping his own double into the left-field corner, trimming the Brewers’ lead to two runs.
When Kyle Tucker drew a one-out walk, he gave Hernández the chance to put the Dodgers ahead with one swing. He took it.
“I’m just hitting the ball in the air, hitting it hard,” Hernández said. “That’s what you want as a hitter, and I think that’s what’s been the difference between the last two weeks [versus] the weeks before.”
He entered Saturday with a 1.001 OPS since the beginning of last homestand, compared to a .667 OPS up to that point.
Going into a three-city road trip last week, Hernández said refusing to dwell on poor results, especially in big situations, had been key.
“It was more like getting confidence and getting to trust myself again,” Hernández said. “And then just go out there and trust my swing, trust the work, and just trying to select better pitches to hit.”
In addition to coming up in the big situation, Hernández also contributed to the Dodgers’ late rallies, as they batting through the order in both the eighth and ninth innings to tack on seven runs.
The Dodgers’ bullpen shut down the Brewers for four innings. The performance from Alex Vesia, Kyle Hurt, Tanner Scott and Jonathan Hernández extended the bullpen’s scoreless streak to 36 consecutive innings, eclipsing the Dodgers’ previous record of 33 innings in 1998.
“The biggest thing is that they’re attacking in the hitters, they’re pounding in the strike zone, and when they need a pitch for a double play, they executed really well,” Teoscar Hernández said. “In ‘24 they helped us a lot, ‘25 too, and this year is not going to be different. They’re built for this, and they’re ready for it.”
Dodgers third baseman Max Muncy’s right wrist was sore Saturday, as expected after he was hit by a 95.5-mph sinker the night before.
“We’re going to kind of give him a rest day to try to get that swelling out, and then see where he’s at [Sunday],” Roberts said. “And like I said, he’ll be down for the weekend, and then we’ll kind of see where we get to on Monday.”
Depending on how he’s recovering, the Dodgers could send Muncy to get a CT scan when they’re back in Los Angeles.
Dodgers utility player Kiké Hernández (left elbow surgery recovery) is expected to join the team Monday in Los Angeles. Roberts plans to write him into the starting lineup when Rockies left-hander Kyle Freeland starts against the Dodgers.
A day after word spread former Dodger Chris Taylor had opted to retire, he reportedly changed his mind and joined the Minor League Baseball injury list with a left forearm fracture.