Overview
- Micron reported fiscal Q1 2026 revenue up 57% year over year to $13.6 billion and more than 20% sequentially.
- The company topped expectations and issued stronger guidance for fiscal Q2, signaling continued momentum.
- Cloud memory revenue doubled to $5.3 billion as demand for high-bandwidth memory tied to AI infrastructure accelerated.
- Operating margin expanded from 25% to 45%, and adjusted earnings per share rose from $1.79 to $4.78.
- Following the report, Wall Street’s fiscal 2026 EPS estimates climbed to $31.88, implying less than 9 times forward earnings as shares trade near record highs.