Boise, US: Memory chip maker Micron Technology has seen its shares rise 16% as the company released its third quarter results for 2026. With this, the company solidifies its $1.1 trillion market cap. With an insatiable demand for its memory chips from data centers and technology firms, the company has joined the likes of Samsung, Nvidia and TSMC to join the trillion-dollar club.
For the third quarter, Micron reported $41.46 billion in revenue, an explosive 345.7% surge compared to the $9.3 billion recorded in the same period last year. This also beat Wall Street’s forecast by a staggering $5.77 billion. This has meant the company generated a record $25.39 billion in operating cash flow, with a massive adjusted single-quarter free cash flow of $18.30 billion.
Today, Micron reported our Q3 FY26 financial results. Learn more: https://t.co/23iktTsc8n pic.twitter.com/lLdaGgnrJ4
— Micron Technology (@MicronTech) June 24, 2026
Over the quarter, the company has signed 16 long term Strategic Customer Agreements (SCAs) with leading global data center operators and auto manufacturers, as they look to secure about 20% of the total DRAM volume up to 2030. This has locked in revenues of about $22 billion upfront, forcing the company to focus on these chips at the expense of memory chips for smartphones, PCs and other devices. This has created a supply imbalance that has pushed memory prices higher, boosting Micron’s results.
Micron CEO Sanjay Mehrotra has confirmed that the company’s next generation HBM4 12 high array High Bandwidth Memory (HBM) has already generated over $1 billion in revenue, is 100% sold out for 2026 and 2027, with Micron’s advanced packaging factories being able to fulfill only half to two-thirds of its aggregate incoming market demand.
