Overview
- Fiscal Q2 revenue of $23.86 billion and adjusted EPS of $12.20 beat expectations, with GAAP gross margin climbing to about 74%.
- Micron guided fiscal Q3 revenue to roughly $33.5 billion (±$750 million), pointing to sustained AI data-center memory tightness.
- Management said 2027 spending will increase again and outlined new fabs in Idaho (targeting mid-2027 output), New York (late-2028 wafers) and a second Taiwan site.
- The company began volume shipments of 36GB HBM4 for Nvidia’s Vera Rubin platform and is one of three global HBM suppliers alongside Samsung and SK Hynix.
- Shares fell around 4% in early trading as investors weighed peak-margin risks, even as many analysts maintained Buy ratings and raised price targets.