Micron Technology posted record quarterly earnings on June 24, 2026, with net income of $28.24 billion on revenue of $41.46 billion, driven by soaring demand for memory chips from artificial intelligence data centers.

The company reported earnings per share of $25.11, crushing analyst expectations of $20.20 by 24 percent. Revenue also exceeded Wall Street estimates of $35.1 billion, signaling robust demand across the semiconductor industry as AI infrastructure spending accelerates.

For the fourth quarter, Micron guided revenue between $49 billion and $51 billion, substantially higher than analyst consensus of $43.2 billion. The guidance reflects unprecedented demand for high-bandwidth memory chips essential to training large language models.

The surge in earnings underscores the central role memory manufacturers play in the AI boom. As companies invest billions in infrastructure to run large language models, demand for Micron’s products has reached unprecedented levels.

Micron also declared a quarterly dividend of $0.15 per share and announced a strategic partnership with Anthropic to supply memory and storage chips for AI applications.

The earnings beat came despite broader semiconductor sector volatility earlier this week. Micron shares had fallen sharply on Tuesday as investors took profits after the stock’s strong rally. The company’s forward guidance suggested the selloff may have been overdone.

Micron remains one of only three companies capable of manufacturing cutting-edge memory chips, giving it enormous pricing power in the AI era.