Micron Exceeds Expectations with Strong Q2 Earnings, Revenue Surges

Memory chip maker Micron reported fiscal year 2026 second-quarter revenue of $23.86 billion and operating profit of $16.455 billion, exceeding market forecasts. This represents a 75% increase in revenue and a 156% surge in operating profit compared to the previous quarter. Earnings per share for the quarter came in at $12.20, surpassing the market forecast of $9.31. Micron projected a gross profit margin (GPM) guidance of 81% for the next quarter.

Estimates for operating profit for Samsung Electronics and SK Hynix this year have also been recently revised upward by securities firms. Market research firm TrendForce reported that for this year, SK Hynix holds a 50% share of the HBM market, followed by Samsung Electronics with 28%, and Micron with 22%.

Micron has commenced mass production shipments of its 6th generation HBM4 36GB 12-layer product and has increased its capital expenditure plan for this year from $20 billion to over $25 billion.

Samsung Electronics has formalized its supply of HBM4 for NVIDIA's next-generation AI accelerator, 'Vera Rubin'.

Micron's stock price closed down 4.43% at $441.27 in after-hours trading following the earnings announcement.

SK Group Chairman Chey Tae-won stated that a memory supply shortage is expected to persist at over 20% until 2030.