Micron beats on earnings and issues strong guidance as data center revenue jumps 11-fold

Another impressive quarter for Micron with third quarter earnings going over a thousand percent from a year ago. Yes, slightly slower than the growth rate it saw in the third quarter, but still commendable given the concerns about memory cycle peaking. Uh CEO Sanjay Mehrotra on the call saying memory and storage market will be much tighter in calendar year 2027 and 2028. So, it remains an industry constrained, he says, by a lack of supply due to rising demand. He also mentions autonomous cars and robotics as tailwinds. He also said we do not have a line of sight when supply demand equation balances out and that CapEx will increase in 2027 as it adds more capacity here in the US and overseas in markets like Singapore. In fact, it just poured concrete on its first New York fab with initial wafer output expected in about four years. The stock, interestingly enough, basically flat after gaining a 270% this year. Exclusive sit-down with Sanjay Mehrotra, our CEO, tomorrow morning at 10:00 a.m.