Micron tops estimates as AI memory demand builds a $22 billion backlog

Micron Technology (NASDAQ: MU) reported a standout fiscal third quarter as AI-related memory demand lifted revenue to $41.46 billion and adjusted earnings to $25.11 per share. Those results exceeded analyst expectations of $35.84 billion in revenue and $20.78 in adjusted EPS, according to estimates tracked by London Stock Exchange Group (LSE: LSEG). Micron shares jumped 15% in after-hours trading.