Micron Technology’s Growing Role in AI Infrastructure
Micron Technology (NASDAQ: MU) forecasts that the demand for AI-driven memory will account for over 50% of the global DRAM and NAND target addressable market by 2026. The company’s revenue surged 196% year-over-year to $23.9 billion in Q2 of fiscal 2026, with earnings per share jumping 682% year-over-year. Micron is facing a persistent supply-demand imbalance, causing DRAM prices to rise by approximately 60% and NAND prices by 70% sequentially during this period.
As of March 23, 2026, Micron’s stock has gained nearly 40% YoY, driven by a growing reliance on high-bandwidth memory (HBM) for AI operations. The company has already sold out its HBM supply for 2026, indicating strong pricing power and customer commitments. Micron expects its capital expenditures for fiscal 2026 to exceed $25 billion, aimed at expanding production capabilities to meet increasing demand across various tech sectors, including data centers, PCs, and automotive systems.
