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Micron’s Boom-and-Bust Risk Persists Despite Fiscal Q3 Revenue Surge

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Micron Technology reported fiscal Q3 2026 revenue of $41.456 billion, surpassing its entire fiscal 2025 revenue of $37.378 billion, while the stock jumped about 656% over the past year. The company previously swung from $8.687 billion net income in 2022 to a $5.833 billion net loss in 2023. Management is guiding fiscal Q4 to $50.0 billion revenue amid strategic customer agreements and customer cash deposits.

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