From Quartz.

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Micron reported record revenue, profit, and margins while its shares fell about 6.5%, underscoring investor caution around rapid AI-driven expansion. The Micron earnings update showed FY26 Q2 revenue of $23.86 billion, non-GAAP EPS of $12.20, and a 74.9% gross margin. Guidance projected roughly $33.5 billion in Q3 revenue, far above prior estimates, even as Micron stock declined.
Micron said AI demand is reshaping memory economics, with data-center DRAM and NAND bit demand expected to exceed 50% of industry total in 2026. The company began volume shipments of HBM4 for Nvidia’s Vera Rubin platform, more than doubled data-center NAND revenue sequentially, raised fiscal 2026 capex above $25 billion, and announced a five-year strategic customer agreement. #micron #earnings #memorymarket #wallstreet

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