New Delhi, June 26 -- BOISE - The same AI memory crunch that forced Apple Inc. AAPL to raise prices on every MacBook and iPad it sells produced, on the other side of the supply chain, the most profitable quarter any memory company has ever reported.

Micron Technology Inc. MU said Wednesday that fiscal third-quarter revenue reached $41.46 billion, more than four times what the company earned in the same period a year ago and 74 percent higher than the record set just three months earlier. Adjusted earnings per share of $25.11 beat Wall Street's estimate of $20.28 by nearly a quarter. Gross margin climbed to 84.9 percent, a figure the company had never before reached. It was Micron's fifth consecutive quarterly record, each larger than the...