Micron Technology reports a record fiscal third quarter with $41.46B of revenue, $28.24B of net income and an 84.9% gross margin, lifting its market capitalization above $1T and driving the stock higher after-hours.The surge is driven by artificial intelligence demand for high-bandwidth memory: data-center sales rose more than sevenfold to $11.5B, cloud memory reached $13.77B and Micron secured 16 long-term contracts, including a deal with Anthropic and major orders from Nvidia, AMD, Google and Apple.Management forecasts about $50B of revenue for the current quarter, expects tight supply through at least 2027 and will pay a $0.15 dividend, but investors remain cautious after reports that
SK Hynix may slow production and given a history of post-earnings sell-offs.