Micron Earnings Beat and Tokenized Shares on Solana Signal AI-Led Growth
Micron Technology reported blockbuster fiscal Q3 earnings on June 24, with revenue of $41.46 billion (beating estimates of $35.59 billion) and adjusted EPS of $25.11 (vs. $20.60 consensus). The memory-chip maker also issued strong Q4 guidance of $49-$51 billion revenue, above analyst expectations of $43.24 billion, citing AI-driven market tightness persisting beyond 2027. Ahead of earnings, three bullish signals emerged: Bank of America raised its price target to $1,500; Micron partnered with Anthropic on AI memory technologies; and tokenized Micron shares launched on Solana, providing blockchain-based access. The report highlights AI infrastructure demand outstripping supply, with CEO Sanjay Mehrotra noting record investments to meet growing customer demand. For crypto markets, the timing of the tokenized stock launch before a major earnings catalyst underscores convergence between traditional finance and blockchain, especially as AI-related stocks become sought-after assets.
Key facts
- Micron Q3 revenue $41.46B, EPS $25.11, both beat estimates.
- Q4 revenue guidance $49-$51B, above consensus of $43.24B.
- AI demand will keep market tight beyond 2027, says CEO.
- Tokenized MU shares launched on Solana before earnings.
- Bank of America raised target to $1,500; partnership with Anthropic.