Micron Secures $100B Backlog, Q3 Revenue Soars to $41.46B
MU•Micron reported Q3 revenue of $41.46 billion, a 346% year-over-year increase, and achieved an 84.9% gross margin driven by tight NAND supply. The company secured a $100 billion multi-year backlog and guided Q4 revenue near $50 billion with $30–32 EPS, lifting its stock 15.95%.
1. Q3 Record Earnings
Micron delivered Q3 revenue of $41.46 billion, up 346% year-over-year, and achieved an 84.9% gross margin, marking its highest profitability in memory manufacturing. Earnings per share exceeded $25, reflecting robust demand in data center and AI applications.
2. $100B Multi-year Backlog
The company secured $100 billion in multi-year customer contracts, shifting its profile from cyclical supplier to predictable revenue generator. This backlog underscores sustained NAND tightness and positions Micron for stable long-term cash flows.
3. Q4 Guidance and Stock Rally
Micron guided Q4 revenue around $50 billion with $30–32 EPS, significantly above consensus estimates. The upbeat outlook drove a 15.95% stock surge and prompted analysts to lift price targets toward $2,000+, reflecting renewed confidence in the AI capex cycle.
