Micron's latest gross margin approaches 85%, surpassing Nvidia to become the new profit king among major US tech stocks

According to financial reports, Micron's latest gross margin reached 84.9%, significantly outperforming the previous quarter's 74.9% and the 39% from the same period last year. It also surpassed Meta's 81.9% and Nvidia's 75%.

Micron CFO Mark Murphy stated that the gross margin for the third quarter of fiscal year 2026 more than doubled year-over-year, setting a new record high for the company. This data highlights Micron's pricing power, allowing it to shed its past reputation as a commodity manufacturer and ascend to the position of the new profit king among major US tech stocks. (CNBC)