Zebra Technologies (ZBRA) Q3 FY26 earnings call

Mobile computing demand outran memory supply, and Zebra's success in securing components converted a latent constraint into record volume. The thesis now turns on price-versus-cost catch-up: pricing and cost levers fully offset memory this year, while 2027 profitability depends on closing the gap as memory costs keep rising into the first half. Management is confident on volume and visibility.