Overview
- Micron posted fiscal Q2 revenue of $23.86 billion and adjusted EPS of $12.20, setting records for revenue, gross margin and free cash flow.
- The company guided fiscal Q3 to about $33.5 billion in revenue and roughly $19.15 in adjusted EPS, well ahead of Wall Street forecasts.
- Management raised fiscal 2026 capital expenditures to more than $25 billion and projected a meaningful step‑up in 2027, including over $10 billion more in construction costs.
- Executives said Micron can meet only about 50% to two‑thirds of some key customers’ mid‑term requirements, highlighting a tight HBM market dominated by Micron, Samsung and SK Hynix.
- Micron began volume shipments of HBM4 for Nvidia’s Vera Rubin platform, yet the stock fell 4%–6% on Thursday as investors weighed the heavier spending plans.