Micron Technology, Inc. (MU) reported a 56.8% year-over-year revenue growth for fiscal Q1 2026, reaching $13.64 billion, surpassing analysts’ expectations of $12.88 billion. The company’s cloud memory unit contributed significantly, generating $5.28 billion in sales, an increase of 99.5% from the previous year. Micron’s non-GAAP net income stood at $5.48 billion, or $4.78 per diluted share, exceeding analysts’ forecasts of $3.94.
Looking ahead, Micron anticipates Q2 2026 revenues will range between $18.3 billion and $19.1 billion, with estimated diluted earnings per share between $8.22 and $8.62. The high-bandwidth memory (HBM) market is projected to grow at a CAGR of 25.5%, reaching $7.72 billion by 2035, reinforcing Micron’s growth prospects. The company also reported a record cash flow of $3.9 billion in Q1, supporting its future initiatives.
