Micron Faces Sept. 30 Earnings Amid $267B Nvidia Orders
Micron targets record Q4 results as Amazon lifts capex and Nvidia secures long-term supply deals.
Key points
- Wall Street expects Micron to report $50.8B in revenue and $31.35 EPS for Q4, a 350% revenue increase.
- Amazon raised 2026 capex to $220B, citing memory prices, while Nvidia secured $267B in supply orders through 2029.
- Micron's guidance aligns with market expectations, indicating the memory supercycle remains strong ahead of the Sept. 30 report.
Micron Technology is set to report fiscal fourth-quarter results on September 30, with Wall Street projecting a significant surge in performance. Analysts anticipate revenue of approximately $50.8 billion and earnings per share of $31.35, marking a 350% year-over-year revenue increase and an elevenfold jump in EPS compared to the same period last year.
The company’s own guidance aligns closely with these market expectations, confirming that the memory supercycle remains active. According to The Globe and Mail, the setup for the upcoming release is defined by sustained artificial intelligence demand, tight supply conditions, and a financial forecast that models an exceptionally strong quarter for the memory maker.
Hyperscaler Spending Drives Memory Demand
Major technology firms are expanding their capital expenditures, directly benefiting Micron’s business. Amazon raised its 2026 capital expenditure outlook from $200 billion to $220 billion, with CEO Andy Jassy explicitly citing memory prices as a key factor in the increase. This signals continued robust demand for the components Micron produces.
Nvidia has further solidified this trend by placing supply and capacity orders totaling $267 billion through fiscal 2029. Management indicated that a substantial portion of this spending is allocated to memory. Additionally, Elon Musk publicly acknowledged Micron during Tesla’s earnings call, highlighting the central role of memory pricing in current infrastructure costs.
Investment Strategy Focuses On Long-Term Value
While the immediate earnings report is a focal point, the broader investment thesis centers on long-term positioning. A single quarter’s beat or miss may not dictate the stock’s trajectory if the underlying infrastructure story remains intact. The current environment suggests that the memory sector is benefiting from structural shifts in AI hardware requirements.
Investors are advised to consider building positions through dollar-cost averaging over an extended horizon rather than attempting to time the market around specific earnings events. This approach mitigates the risk of short-term volatility and aligns with the multi-year nature of the capital expenditure cycles driving Micron’s revenue growth.
