Investors are now watching out for U.S. memory chipmaker Micron’s (MU) third-quarter fiscal 2026 earnings, expected on July 1, after archrival Samsung Electronics (SSNLF) reported blowout first-quarter 2026 earnings on solid AI demand.
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Samsung Posts Blowout Earnings
During the three-month period that ended on March 31, Samsung posted a nearly sixfold increase in its net profit as demand for its high-bandwidth memory chips pushed it to new quarterly sales records amid soaring memory prices. Net profit hit KRW 47.2 trillion ($31.8 billion), up from KRW 8.2 trillion ($5.5 billion) in the prior-year quarter, despite a market supply crunch.
The South Korean company, the world’s largest memory chip producer, also saw its operating profit jump by over eightfold to KRW 57.2 trillion ($38.6 billion), marking a 754% increase from KRW 6.7 trillion ($4.5 billion) a year ago. Analysts had predicted a sixfold jump in the figure.
For the January-to-March period, Samsung’s revenue also climbed by 69% year-over-year to KRW 133.9 trillion. The company expects the solid demand to continue and is bullish on its second quarter sales.
The earnings come as South Korean rival SK Hynix (HXSCL) also recently reported record first-quarter profit and revenue, although the revenue missed analysts’ consensus forecast.
Is Micron Set for Another Massive Sales Growth?
With memory chip demand expected to remain elevated, focus will now turn to Micron’s next earnings result. Samsung Electronics, SK Hynix, and Micron are the top three leading memory chip producers in the world.
For the second-quarter that ended on February 26, Micron exceeded Wall Street’s estimates, with sales jumping by 196% year-over-year to $23.86 billion due to a “strong demand environment.” For the next quarter, analysts see the U.S. chipmaker’s revenue climbing even higher, by 264% from a year ago, to reach $33.86 billion.
Is Micron a Good Stock to Buy?
On Wall Street, Micron’s shares continue to have a Strong Buy consensus rating from analysts. This is based on 27 Buys and three Holds issued over the past three months.
In addition, the average MU price target of $574.67 suggests roughly 11% upside in the months ahead.
