MU · Deep research

Micron Technology, Inc.MU · NASDAQ · USD
DEEP RESEARCH

Micron Technology, Inc. (MU) | FY2026-Q3 Deep Research Report

Micron Technology, Inc. reported historic FY2026-Q3 results with revenue of $41.46B (+345.7% YoY) and GAAP gross margin of 84.6%. Forensic accounting penetration reveals that >90% of revenue growth was driven by extreme pricing leverage (DRAM ASP +60% QoQ) rather than bit shipment volume. Trading at a peak 11.5x P/B while management guided FY2027 CapEx to >$40.0B, Micron stands at the fragile apex of a commodity supercycle with asymmetric downside risks.

Fiscal year
FY2026
Period
Q3
Period end
2026-05-28
Calendar year
2026
QUARTERLY EARNINGS

Quarterly Revenue to Net Income Breakdown

FY2026 Q32026-02-27 — 2026-05-28

Band width represents value. Select an item to trace its full earnings path.

Revenue mix
Revenue
Gross profit
Operating income
Pre-tax income
Net income
Related filings

Data as of 2026-06-25

Earnings flow data · 2026-02-27 – 2026-05-28 · USD
ItemUSD
Revenue41456000000
Cost of revenue6400000000
Gross profit35056000000
Operating expenses1738000000
Operating income33318000000
Pretax income33212000000
Income tax4978000000
Net income28243000000
Total business revenue41456000000
Non-operating expense, net106000000
Post-tax attribution adjustment9000000

Sources: MU Form 10-Q (Q3 FY2026) · 2026-05-28