Micron reported revenue of $41.46 billion, well above the $36.92 billion consensus, and EPS of $25.11 versus the $21.40 forecast, fueled by data-center sales exceeding $25 billion and HBM revenue topping $1 billion. Management highlighted 16 long-term customer contracts securing at least $100 billion in cumulative revenue through 2030, with take-or-pay terms, elevated gross-margin floors, and $22 billion in customer deposits supporting expansion amid structural supply constraints extending past 2027. The discussion notes the shift to contracted supply, rapid HBM4 ramps, and AI-driven growth but questions durability given potential demand slowdowns and competition.

Company: Micron Technology, Inc. (MU) — Q3 FY2026

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