Micron Technology (NASDAQ: MU) reported a significant revenue increase of 197% year-over-year, reaching $23.86 billion for Q2. This result surpassed expectations by 2,300 basis points, driven by strong demand across multiple segments, including mobile and client, core data center, automotive, and cloud memory.
The company’s earnings per share (EPS) hit $12.20, exceeding the consensus estimate of $8.50 by over 4,100 basis points. Gross margins improved markedly, up 3,700 basis points, while net income rose approximately 7.8 times year-over-year, reflecting the company’s strong market position amid rising AI-related demand for high-bandwidth memory (HBM) products.
Analysts maintain a bullish outlook on Micron following this performance, with no downgrades or price-target cuts reported. Projections indicate further revenue growth acceleration, potentially surpassing 250% in the next quarter, as the company moves towards HBM4 production to meet increasing market demands.
