Micron (MU) Profit Soars 1,400%, Shares Rocket to Fresh High

Micron Technology Inc. (NASDAQ:MU) is one of the 9 Stocks Winning by Double Digits.

Micron Technology soared to a new all-time high on Thursday, as investors gobbled up shares after reporting a stellar earnings performance in the third quarter of fiscal year 2026.

In intra-day trading, its stock climbed to its highest price of $1,255 before trimming gains to finish the session just up by 15.81 percent at $1,213.56 apiece.

micron

Photo from Micron Technology website

In an updated report, Micron Technology Inc. (NASDAQ:MU) said that its net income for the period soared by 1,398 percent to $28.2 billion from only $1.88 billion in the same period last year, thanks to the strong demand from the artificial intelligence sector.

Revenues also increased by 346 percent to $41.456 billion from $9.301 billion year-on-year.

“Micron’s record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era,” Micron Technology Inc. (NASDAQ:MU) Chairman, President, and CEO Sanjay Mehrotra said.

“Micron is investing at record levels in technology, products, and supply to address our customers’ rapidly growing demand. We believe our multi-year Strategic Customer Agreements will significantly enhance the durability and predictability of Micron’s strong financial performance,” he noted.

Following the results, Micron Technology Inc. (NASDAQ:MU) posted a highly optimistic outlook for the fourth quarter ending August 2026, with revenues expected at a midpoint of $50 billion, plus or minus $1 billion.

While we acknowledge the risk and potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MU and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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