Will Strong Demand and Pricing Help MU Reach 86% Gross Margin in Q4?

Micron Technology achieved a record 84.9% non-GAAP gross margin in Q3 fiscal 2026, driven by strong AI demand, tight memory supply, and elevated pricing across DRAM and NAND products. The company targets 86% gross margin for Q4 with $50 billion in revenues. Competitors SK Hynix and Sandisk are also benefiting from robust memory pricing, though Micron's exposure to both HBM and broader DRAM demand provides a competitive advantage.