MICRON TECHNOLOGY (MU) Company Report

Analyst Earnings Quarterly Reports

Earnings summaries and quarterly performance for MICRON TECHNOLOGY.

Analyst Coverage

Research analysts who have asked questions during MICRON TECHNOLOGY earnings calls.

Timothy Arcuri

UBS

11 questions for MU

Also covers: ADI, ALGM, AMAT +18 more

Vivek Arya

Bank of America Corporation

10 questions for MU

Also covers: ADI, ALAB, ALGM +25 more

Vijay Rakesh

Mizuho

9 questions for MU

Also covers: ALGM, ALV, AMAT +19 more

Harlan Sur

JPMorgan Chase & Co.

8 questions for MU

Also covers: ADI, ALAB, AMAT +16 more

Aaron Rakers

Wells Fargo

7 questions for MU

Also covers: AAPL, AMD, ANET +19 more

Krish Sankar

TD Cowen

7 questions for MU

Also covers: AAPL, AEIS, AMAT +22 more

Brian Chin

Stifel Financial Corp.

6 questions for MU

Also covers: AEIS, AMAT, CAMT +8 more

CJ Muse

Cantor Fitzgerald

6 questions for MU

Also covers: ADI, AMAT, AMD +15 more

Joseph Moore

Morgan Stanley

6 questions for MU

Also covers: ADI, AEVA, ALAB +22 more

Chris Danely

Citi

5 questions for MU

Also covers: MCHP, ON

Jim Schneider

Goldman Sachs

5 questions for MU

Also covers: ACN, ADI, AMAT +31 more

Kevin Cassidy

Rosenblatt Securities

5 questions for MU

Also covers: ADEA, AMBA, BTDR +13 more

Thomas O’Malley

Barclays Capital

5 questions for MU

Also covers: ALAB, ALGM, AMD +21 more

Tom O'Malley

Barclays

4 questions for MU

Also covers: ALAB, ALGM, AMD +5 more

John Vinh

KeyBanc Capital Markets

3 questions for MU

Karl Ackerman

BNP Paribas

3 questions for MU

Also covers: ALAB, ANET, AVGO +16 more

Quinn Bolton

Needham & Company, LLC

3 questions for MU

Also covers: ALAB, ALGM, AMBA +22 more

Chris Caso

Wolfe Research LLC

2 questions for MU

Also covers: ADI, ALGM, AMAT +13 more

Chris Daintley

Citigroup Inc.

2 questions for MU

Christopher Danely

Citigroup Inc.

2 questions for MU

Also covers: ADI, MCHP, NXPI +2 more

Christopher Muse

Cantor Fitzgerald

2 questions for MU

Also covers: ADI, AMAT, AMD +13 more

C J Muse

Tanner Fitzgerald

2 questions for MU

Also covers: AMD, ASML, KLAC +3 more

Joe Moore

Morgan Stanley

2 questions for MU

Also covers: ADI, AEVA, ALAB +13 more

Sreekrishnan Sankarnarayanan

Wolfe Research, LLC

2 questions for MU

Also covers: AAPL, AEIS, AMAT +21 more

Steven Fox

Fox Research

2 questions for MU

Also covers: AMKR, APH, BDC +23 more

Christopher Caso

Wolfe Research

1 question for MU

Also covers: ADI, ALGM, AMAT +16 more

Mehdi Hosseini

Susquehanna Financial Group

1 question for MU

Also covers: AEIS, ALAB, AMAT +21 more

Srinivas Pajjuri

Raymond James & Associates, Inc.

1 question for MU

Also covers: ALAB, AMAT, ARM +10 more

Latest news

Recent press releases and 8-K filings for MU.

ChipAgents completes $74M financing to expand Agentic AI platform

New Projects/Investments

Revenue Acceleration/Inflection

Completed an oversubscribed $50 million Series A₁ round, bringing total funding to $74 million to date.
Round led by Matter Venture Partners—whose founder Wen Hsieh joins the board—with participation from TSMC’s risk-investment arm, Bessemer, Micron, MediaTek and Ericsson.
Proceeds will accelerate development and global deployment of its Agentic AI platform, an AI-native infrastructure for end-to-end chip design workflows.
Platform annual recurring revenue (ARR) grew 140× year-over-year, and ChipAgents has secured multi-year, multimillion-dollar contracts with 80 leading fabless semiconductor companies.

Feb 18, 2026, 11:00 PM

Press Release

Micron highlights supply tightness and expansion plans

New Projects/Investments

Guidance Update

CFO Mark Murphy said demand significantly exceeds supply, with the market remaining tight beyond 2026 due to AI-driven memory requirements.
Announced new greenfield investments: a DRAM fab groundbreaking in New York and a NAND fab in Singapore (first wafers H2 2028), plus the $1.8 billion Tongluo site acquisition in Taiwan closing in Q2 2026.
Micron is in high-volume production of HBM4, has commenced customer shipments, is ramping volumes in calendar Q1 2026, and has sold out its 2026 HBM supply with >11 Gbps performance.
Financial outlook strengthened since the last earnings call, with Q2 2026 gross margin guidance of ~68% and expected margin expansion into Q3 2026.
Progressing multi-year supply agreements with customers to secure longer-term commitments beyond traditional quarter-to-quarter LTAs, details to be announced later.

Feb 11, 2026, 1:50 PM

Transcript

Micron Technology outlines tight AI-driven memory market and new fab investments

New Projects/Investments

Product Launch

Micron sees demand significantly exceeding supply, driven by AI workloads, and expects tight supply–demand balance beyond 2026.
The company is ramping HBM4 in high-volume production, with customer shipments starting in calendar Q1 2026 and full-year 2026 HBM supply already sold out.
Announced two new fab groundbreakings—a DRAM facility in New York and a NAND fab in Singapore (first wafer H2 2028)—and agreed to acquire the Tongluo Taiwan fab for $1.8 billion, closing in Q2 2026.
Q2 2026 gross margin guidance is 68%, with expectations for further margin expansion in Q3 driven by pricing strength, cost control, and product mix.
Customers are moving to multi-year supply agreements with firm commitments over 3–5+ years to secure critical memory and storage capacity for AI and data-center applications.

Feb 11, 2026, 1:50 PM

Transcript

Micron Technology outlines capacity expansions and HBM4 ramp amid tight supply-demand

New Projects/Investments

Guidance Update

Product Launch

Micron expects supply-demand tightness beyond 2026 as AI-driven demand outpaces available capacity despite inventory reductions and asset utilization efforts.
Announced two new fab groundbreakings—DRAM in New York and NAND in Singapore (first wafer in 2H 2028)—and acquired the Tongluo DRAM site in Taiwan for $1.8 billion to bolster long-term capacity.
Advanced HBM4 into high-volume production with customer shipments commenced and ramping in calendar Q1; 2026 HBM supply sold out.
Financial outlook strengthened with current-quarter gross margin guided at 68%, with expected further expansion into Q3 driven by favorable pricing and mix.
Maintaining disciplined CapEx plan of $20 billion in FY 2026 plus incremental Tongluo investment, targeting mid-2027 volume from Idaho One and late-2027/early-2028 production from Tongluo.

Feb 11, 2026, 1:50 PM

Transcript

Micron Technology highlighted in Cramer chip shortage report

HSBC raised Micron’s price target to $500 (from $350), citing a DRAM price rally and forecasting high double-digit growth in fiscal Q2 operating profit.
Jim Cramer listed Micron among firms facing product shortages and described its CEO as “too modest”.

Jan 27, 2026, 7:09 PM

CNBC

Micron to invest $24B in Singapore NAND fab

New Projects/Investments

$24 billion investment over the next decade to build an advanced wafer fab in Singapore’s NAND complex with ~700,000 sq ft of cleanroom, targeting wafer output in H2 2028.
Aimed at meeting surging AI-driven demand for NAND storage and strengthening Micron’s NAND Center of Excellence, supply-chain resiliency, and industry–academia partnerships.
Co-located with an HBM advanced packaging plant expected to start contributing supply in 2027, creating operational synergies.
Supported by a strong balance sheet (market cap $437.9 billion; current ratio 2.46; debt-to-equity 0.21; Altman Z-Score 12.08) underpinning the long-term commitment.

Jan 27, 2026, 2:36 AM

Bloomberg

Micron breaks ground on advanced wafer fabrication facility in Singapore

New Projects/Investments

Hiring

Micron commits US $24 billion over 10 years for a new advanced wafer fab at its Singapore NAND complex.
The 700,000 sq ft double-story cleanroom will start wafer output in 2H 2028 to meet growing AI and data-centric demand.
The project will create around 1,600 jobs, bringing total new roles to about 3,000 including the HBM packaging facility.
Co-location of R&D and manufacturing aims to accelerate time-to-market, improve efficiencies and bolster supply chain resiliency.
The fab will adhere to LEED standards for greenhouse gas abatement, water recycling and waste circularity.

Jan 27, 2026, 2:30 AM

Press Release

Micron sees DRAM super-cycle as AI drives memory shortages

Revenue Acceleration/Inflection

New Projects/Investments

Micron has flipped from deep losses to a potential DRAM/NAND super-cycle, driven by surging demand for high-bandwidth memory (HBM)—which requires 3–4× the wafer capacity of standard DRAM—and has caused supply shortages and higher prices.
The company’s revenue nearly halved in fiscal 2023 and its debt exceeded $13 billion; it derives 80% of revenue from DRAM and 20% from NAND.
Texas is emerging as a major data-center frontier—benefiting from abundant land, deregulated power markets, and robust energy and fiber networks—likely boosting future memory demand as projects scale in West Texas.
California is losing share as a data-center hub due to high costs, regulatory hurdles, and power delays; Northern California ranks 9th and Southern California 12th by capacity, threatening local demand despite partnership efforts.

Jan 25, 2026, 11:16 AM

WSJ

Micron plans $1.8B Taiwan fab acquisition

M&A

New Projects/Investments

Exclusive letter of intent to buy Powerchip’s Tongluo P5 fab for $1.8B; expected to close by Q2 2026
The 300mm, 300,000 sq ft facility could yield ~50,000 wafers/month, potentially boosting annual DRAM output by 10–15%
Micron will phase in DRAM production with meaningful output in H2 2027, while Powerchip supports legacy DRAM and post-wafer assembly during the transition
Move aligns with Micron’s U.S. investment push (New York complex groundbreaking) and spurred RBC’s Outperform rating (PT $425) amid a Strong Buy consensus (avg PT $363.77)

Jan 18, 2026, 11:17 AM

Morningstar

Micron signs LOI to acquire PSMC Tongluo fab

M&A

New Projects/Investments

Micron signs an LOI to acquire PSMC’s Tongluo P5 fab in Taiwan for US$1.8 billion, including a 300,000 sq ft 300 mm cleanroom.
Transaction is expected to close by Q2 2026 pending final agreements and regulatory approvals.
Upon closing, Micron will ramp up DRAM production in phases, aiming for meaningful wafer output in 2H 2027.
Acquisition complements Micron’s Taiwan operations and supports its long-term global memory demand strategy.