"Micron's most recent quarter was, by almost any measure, exceptional. Revenue came in at $13.64 billion, up 57% year over year, and non-GAAP EPS of $4.78 beat estimates by 21%."
"For the current quarter, management guided for revenue of $18.70 billion and non-GAAP EPS of $8.42. CEO Sanjay Mehrotra was direct about Micron's trajectory: 'Our Q2 outlook reflects substantial records across revenue, gross margin, EPS and free cash flow, and we anticipate our business performance to continue strengthening through fiscal 2026.'"
"Micron's gross margins are expected to hit 68% on a non-GAAP basis. This figure reflects both the pricing power Micron commands in AI memory and the operating leverage building across its business units."
"The engine behind those numbers is High Bandwidth Memory. Micron's HBM products are sold out through 2026, with order books reportedly stretching into 2027."
Micron Technology's stock fell approximately 4% despite a rising NASDAQ 100, attributed to macroeconomic tensions in the Middle East. The company's recent earnings report showed exceptional growth, with revenue of $13.64 billion, a 57% year-over-year increase, and non-GAAP EPS of $4.78, exceeding estimates. Forward guidance is even more optimistic, projecting revenue of $18.70 billion and non-GAAP EPS of $8.42 for the current quarter. Micron's gross margins are expected to reach 68%, driven by demand for High Bandwidth Memory products, which are sold out through 2026.
Read at 24/7 Wall St.
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