Micron Technology's third-quarter results exceeded expectations, with average unit prices rising 20%

Micron Technology's third-quarter results exceeded market expectations, with total revenue of $6.81 billion, a year-on-year increase of 81.6%, operating profit of $941 million, and net profit of $332 million. The average unit price of DRAM and NAND Flash both increased by about 20% month-on-month. The rapid growth in data center demand, especially AI demand, has increased revenue by more than 50%. Micron has begun to increase shipments of high-bandwidth memory (HBM), and HBM's annual revenue could be as high as billions of dollars. Micron Technology expects fourth-quarter revenue to be between $7.4 billion and $7.8 billion, slightly higher than market estimates. However, as the fourth-quarter performance guidance did not exceed expectations, Micron's stock price fell nearly 8% after the market closed.