26 June 2025
If you are covering Micron’s latest financial results, please find below a comment from Ben Barringer, global technology analyst at Quilter Cheviot:
“Micron has delivered very solid results, with revenue up 37% and a 5% beat on expectations. The standout performer was the data centre segment, where revenues doubled year-on-year thanks to strong demand for high bandwidth memory, particularly in AI applications. Micron continues to take share in this space from incumbents like SK Hynix, especially in HBM3, where Samsung currently has little presence. HBM, or High Bandwidth Memory, is a type of ultra-fast memory used in AI servers and advanced computing, and Micron is well placed in the current generation (HBM3). While Samsung could mount a comeback with the next generation (HBM4), expected in late 2025 or 2026, Micron’s visibility is strong, having already sold out their HBM3 supply for 2025.
“Outside the data centre, growth in smartphones and PCs remains subdued, though there are signs of bottoming in the industrial and auto markets. Given memory is a fundamental component across all tech sectors, this is a good read-through for the broader semiconductor market. While companies like Nvidia and TSMC may capture more headlines, Micron’s performance reinforces the strength of underlying demand in AI and the critical role memory will continue to play.”
