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 +17 more

Vivek Arya

Bank of America Corporation

10 questions for MU

Also covers: ADI, ALGM, AMAT +23 more

Vijay Rakesh

Mizuho

9 questions for MU

Also covers: ALGM, ALV, AMAT +18 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 +21 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, AMD +25 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: ALGM, AMD, KLAC +1 more

John Vinh

KeyBanc Capital Markets

3 questions for MU

Karl Ackerman

BNP Paribas

3 questions for MU

Also covers: ANET, AVGO, CIEN +15 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 +12 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 +2 more

Joe Moore

Morgan Stanley

2 questions for MU

Also covers: ADI, ALGM, AMBA +10 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 +20 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.

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”.

8 days ago

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.

Jan 17, 2026, 9:00 AM

Press Release

Micron breaks ground on New York $100B megafab

New Projects/Investments

M&A

Micron’s shares jumped 7–8% to record highs after the company initiated construction of a $100 billion memory megafab in Clay/Onondaga County, NY, as part of a roughly $200 billion U.S. expansion.
The Clay site is slated to be one of the largest U.S. semiconductor complexes, potentially creating 50,000 jobs, with production targeted around 2030 and $250 million pledged for community support.
CEO Sanjay Mehrotra highlighted accelerating AI-driven memory demand and tight supply for specialized products like High Bandwidth Memory (HBM)—including a shift toward HBM4—as factors likely to extend the memory upcycle through 2027.
To bolster near-term capacity ahead of the U.S. megafab, Micron plans a $1.8 billion cash acquisition of Powerchip Semiconductor’s Taiwan fab, expected to close by Q2 2026.

Jan 16, 2026, 2:39 PM

CNBC

Micron announces groundbreaking for New York megafab

New Projects/Investments

Micron will officially break ground on its megafab in Onondaga County, New York on Jan. 16, 2026.
The project represents the largest private investment in New York state history and will house up to four advanced memory fabs.
Upon completion, the site will be the largest semiconductor facility in the United States, designed to meet growing AI system demands.
CEO Sanjay Mehrotra, other Micron executives and federal, state and local officials will attend the groundbreaking and a follow-on celebration at Syracuse University.

Jan 7, 2026, 2:00 PM

Press Release

Micron Technology reports fiscal Q1 2026 results

Earnings

Share Buyback

New Projects/Investments

Micron delivered 20% bit shipment growth in fiscal 2026, with modest sequential DRAM bit growth in Q1 and further increases expected in Q2; revenue growth in Q1 was largely price-driven.
Achieved a record 68% gross margin, underpinned by robust AI-driven demand, leadership memory technology and structural supply constraints; margins are expected to rise further, albeit more gradually.
DRAM and NAND capacity remain oversubscribed, with HBM supply for 2026 fully committed via volume and price agreements; small supply uplifts cannot meet broad unmet demand.
Fiscal Q1 free cash flow margin was ~30%, enabling repayment of $2.7 billion in debt and $300 million in share repurchases, resulting in a net cash position; CapEx plans include doubling construction spend into FY 2026 and sustaining mid-20% CapEx/sales.

Dec 17, 2025, 11:00 PM

Transcript

Micron reports strong Q1 FY2026 results with record margins

Earnings

Share Buyback

New Projects/Investments

Micron delivered 68% gross margin in Q1 FY2026, a record high, and expects margins to rise further, though at a slower pace, supported by AI-driven demand and premium product mix.
DRAM bit shipments grew modestly sequentially in Q1, with full-year fiscal 2026 bit shipment growth of 20%, and further sequential growth anticipated in Q2, though Q2 revenue growth will be price-driven.
Supply remains underscored by demand; Micron is sold out of HBM for 2026 with volume and price agreements in place, balancing allocation across high-margin and strategic segments.
The company achieved a near 30% free cash flow margin, repaid $2.7 billion of debt, repurchased $300 million in shares, and reached a net cash position in Q1.
CapEx is focused on capacity expansion: construction spending is doubling from FY2025 to FY2026, with CapEx/sales in Q1 below 35% and guided to mid-20s in Q2, and FY2027 CapEx to increase for new sites in Idaho, Japan, Singapore, and India.