Micron delivered explosive Q3 results, with revenue up 345.7% YoY and non-GAAP EPS up 1,215%, far exceeding guidance and consensus. AI-driven memory demand, persistent supply constraints, and strategic customer agreements underpin a bullish outlook and mitigate cyclical risks for MU. Operating leverage, robust free cash flow, and sector-leading margins position MU for continued strong performance, with valuation still attractive at 16.6x FY2026 EPS.
