Micron Targets $33.5 Billion Q3 Revenue as Seagate Guides $3.45 Billion on AI Demand
Updated
Updated · Zacks Investment Research · Jun 18
Micron Targets $33.5 Billion Q3 Revenue as Seagate Guides $3.45 Billion on AI Demand
3 articles · Updated · Zacks Investment Research · Jun 18
Summary
Micron said fiscal third-quarter 2026 revenue should reach $33.5 billion, up from $23.86 billion in Q2, as tight HBM supply and hyperscaler AI spending lift pricing power.
About 81% gross margin guidance and expected NAND supply constraints through mid-next year point to further profit expansion, with Micron’s current-year earnings growth forecast at 626.5%.
Seagate posted $3.11 billion in fiscal Q3 revenue, up 44% year over year, driven by nearline data-center storage demand tied to the same AI infrastructure buildout.
For fiscal Q4, Seagate projected $3.45 billion revenue and about $5 in non-GAAP EPS, after Q3 gross margin reached 47% and free cash flow hit $953 million.
Both stocks have gained more than 600% over the past year, underscoring how AI-driven memory and storage demand is reshaping hardware earnings expectations.