Overview
- Micron reported FQ1 fiscal 2026 revenue of $13.6 billion, up 57% year over year, with non-GAAP EPS of $4.78.
- The company guided FQ2 to $18.7 billion in revenue and $8.42 in non-GAAP earnings per share.
- Management said all calendar-2026 high-bandwidth memory supply is under finalized price and volume agreements, with HBM4 ramp expected in FQ2 2026.
- Deutsche Bank raised its Micron price target to $300 and maintained a Buy rating following the results.
- Reporting points to a shortage in AI server memory and rising component prices, which investors say is propelling the stock’s recent gains.