Micron Jumps 7%: Is the Memory Maker Now a Structural AI Winner?
Micron Technology reported fiscal Q2 2026 revenue of $23.9B, up nearly 3x year over year, with gross margin hitting a company record of 75%. The company's guidance for Q3 2026 revenue is $33.5B at 81% margin, driven by HBM supply constraints.
Micron Technology's fiscal Q2 2026 revenue was $23.9B, nearly triple the year-over-year figure, with a company-record gross margin of 75%. The company guided for Q3 2026 revenue of $33.5B and gross margin of approximately 81%. Micron is the only American supplier in the three-player HBM oligopoly with SK Hynix and Samsung. CEO Sanjay Mehrotra stated that AI has transformed memory into a strategic asset. Micron can fulfill only 50% to two-thirds of key customer demand in the medium term. The company's stock is up 103% year to date in 2026 and 618% over the past year.
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