Story perspectives

Micron to Report $33.5B Revenue, HBM4 Nvidia Shipments

6/20/2026

Summary

Micron Announces Q3 Results

Micron Technology will release its fiscal third-quarter results on June 24.
Analysts project earnings per share of $18.97 and revenue of $33.5 billion, with gross margins near 81 percent.
Revenue forecasts vary from $33.7 billion to $40.9 billion, reflecting uncertainty over AI-related investment.
Micron began volume shipments of HBM4 memory for Nvidia’s Vera-Rubin platform in March.
Micron chose Bechtel in June to build a memory fab complex in Clay, New York.

Summary

Micron Joins Trillion

Micron's market capitalization exceeded $1.18 trillion, placing the company in the trillion-dollar club.
On June 18, shares rose nearly 5% to $1,099, approaching their historic high.
UBS set a Wall Street price target of $1,625, a 48% premium to the current price.
At COMPUTEX 2026, Micron presented DRAM and HBM as key AI performance levers, shifting investor perception.

Summary

Fed Tests Economy

The Federal Reserve (Fed)'s inflation gauge and Q1 U.S. GDP reading are due next week, testing health.
Drew Matus of MetLife warned the wealth effect could vanish, threatening the AI rally.
SpaceX's launch and Nasdaq's addition of chip firms Astera Labs and CoreWeave will force index funds to buy them.
AI spending, projected to exceed $700 billion this year, faces a demand test from pending inflation, GDP data and Micron earnings.

History

Historical Context

High-Bandwidth Memory began with JEDEC’s 2013 standard and AMD’s Fiji GPU launch in 2015, sparking AI-focused silicon. Samsung’s 2023 HBM3E reached 9.8 Gbit/s per pin, while Micron announced a 2024 partnership with Bechtel to build a Clay, New York fab to meet soaring AI memory demand. The move extends the decade-long shift toward stacked DRAM.

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Micron Announces Q3 Results

Micron Technology will release its fiscal third-quarter results on June 24.
Analysts project earnings per share of $18.97 and revenue of $33.5 billion, with gross margins near 81 percent.
Revenue forecasts vary from $33.7 billion to $40.9 billion, reflecting uncertainty over AI-related investment.
Micron began volume shipments of HBM4 memory for Nvidia’s Vera-Rubin platform in March.
Micron chose Bechtel in June to build a memory fab complex in Clay, New York.

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