
Micron Technology Q3 Earnings Raise DRAM Guidance; Stock Falls 2% Amid Goldman Sachs Analysis, No 2026 HBM Guidance
Micron Technology Inc. ($MU) reported its Q3 earnings with mixed market reactions. Despite beating expectations and providing higher guidance, the stock experienced a decline of around 2% post-report, hitting new lows. Analysts from Goldman Sachs noted a positive read-across from Micron's results to Korean semiconductor companies, highlighting raised DRAM bit demand guidance while maintaining NAND forecasts and emphasizing ongoing supply discipline. No specific guidance was provided for 2026 High Bandwidth Memory (HBM), with attention shifting to upcoming earnings from SK Hynix. Market participants engaged in various options trades around Micron’s earnings, including put spreads and strangle positions, with some strategies expiring or being bought back following muted price movements. Asset Management CIO Paul Meeks also discussed the earnings, reflecting broader investor interest. The stock's post-earnings decline suggests that despite solid operational results, market sentiment remains cautious.
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