Summary: Micron's strong Q3 performance driven by demand for high-bandwidth memory products like HBM.

From Nasdaq: 2025-07-01 00:10:00

Micron Technology (NASDAQ: MU) reported a strong Q3 FY’25, with revenue up 37% YoY to $9.3 billion and adjusted earnings of $1.91. AI infrastructure demand is driving sales of high-bandwidth memory products, leading to a Q4 revenue guidance of approximately $10.7 billion, a 38% jump from last year. HBM revenue has surged, reaching a $6 billion annualized run-rate.

HBM memory is key to the AI revolution, with demand growing due to generative AI models. Micron’s next-gen HBM4 memory is already being shipped to key customers like Nvidia. The company’s data center revenue doubled YoY, setting a new record. Margins improved in Q3, reaching 39.0%, with Q4 expected to see further growth to 42%.

Micron’s HBM supply remains limited due to its complexity compared to traditional DRAM. The company is sold out of HBM output in 2025 and is seeing strong demand for 2026. Tight supply and inventory conditions are boosting pricing, while process leadership in certain technologies is helping yield and scalability. Despite challenges in the NAND market, Micron is increasing sales to consumer markets and gaining share in the data center SSD market.

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Read more at Nasdaq: How HBM Memory Is Driving Micron’s Surge