Micron Technology Reports Significant Revenue Growth
Micron Technology (NASDAQ: MU) reported a revenue of $23.9 billion for the second quarter of its 2026 fiscal year, ending February 26, 2026. This figure represents a 75% increase from the previous quarter and a substantial 196% increase year over year. The company’s gross margin also improved significantly to 74%, up from 56% in the prior quarter, driven by surging demand for memory related to artificial intelligence (AI).
Micron’s stock is currently trading at a price-to-earnings (P/E) ratio of 20 times trailing earnings, while its forward P/E ratio stands at just 7 times, indicating a potentially undervalued position in contrast to the tech sector’s average of 35 times forward earnings. The company’s share price has risen 48% this year and 311% over the last year as of March 20, positioning Micron as a notable performer amid a broader tech slump.
