Micron posts record 84.9% gross margin, forecasts about 86% for fiscal Q4

According to CNBC, Micron reported a record fiscal third-quarter gross margin of 84.9%, up from 74.9% in the prior period and 39% a year earlier, alongside better-than-expected earnings. The company said fiscal Q3 revenue was $41.46 billion and net income was $28.24 billion, and it projected gross margin of roughly 86% for fiscal fourth quarter; CFO Mark Murphy also said the company expects the memory market to remain tight beyond 2027. Micron said it is signing long-term strategic customer agreements at price levels intended to keep margins high, as demand for high-bandwidth memory used in AI systems rises; shares were up more than 700% over the past year as of Wednesday’s close and gained another 14% in extended trading.