Core Viewpoint - Micron Technology reported strong financial results for the third fiscal quarter, driven by increased demand for AI chips and record sales of high bandwidth memory (HBM) chips [2] Financial Performance - The company achieved a record revenue of $9.3 billion for the third fiscal quarter, a 37% year-over-year increase, surpassing the analyst consensus estimate of $8.9 billion [2] - Adjusted earnings per share were reported at $1.91, exceeding expectations of $1.60 [2] - The adjusted gross margin for the third quarter was 39%, with an expectation of 42% for the upcoming quarter, with a fluctuation of 1 percentage point [2] Market Position and Outlook - Micron's CEO indicated expectations for record revenue, solid earnings, and ample free cash flow in fiscal year 2025, while making disciplined investments to maintain technological leadership and manufacturing excellence [2] - The revenue growth was primarily attributed to "historically high" sales of dynamic random-access memory (DRAM) chips, with HBM chip revenue increasing nearly 50% quarter-over-quarter [2] - The data center business saw revenue growth of over 100% year-over-year, while the consumer-facing end market experienced strong sequential growth [2] Analyst Insights - Analysts are focused on Micron's upward revision of short-term gross margins, with expectations for the previous quarter's gross margin at 36.7% and 39% for the August quarter [3] - Micron's stock has performed well within the S&P 500 index, with investors showing strong optimism towards the company and other memory chip and hard drive stocks [3] - For the fourth fiscal quarter, Micron projects revenue of $10.7 billion, with a fluctuation of $300 million, and adjusted earnings per share of $2.50, with a fluctuation of $0.15 [3]