Micron Projects Over $50 Billion in Sales, Riding AI Memory Shortage

Micron Technology projects fiscal year 2026 revenue above $50 billion, beating analyst expectations.

Second-quarter fiscal 2026 revenue hit $23.86 billion - a 196% year-over-year leap driven by insatiable demand for high-bandwidth memory (HBM), the specialized chips that power AI data centers.

Every HBM unit Micron can produce through the end of calendar 2026 is already sold. Gross margins are guided to approximately 81% for the next quarter. CEO Sanjay Mehrotra states the shortage is structural, extending well into 2026.

Micron crossed the $1 trillion market cap mark in May 2026. It is one of only three companies - alongside SK Hynix and Samsung - capable of manufacturing advanced HBM at scale. Capital expenditures are expected to surpass $25 billion this fiscal year, with further increases planned for FY2027.

Third-quarter earnings, expected around June 24, 2026, are anticipated to near $35 billion in quarterly revenue.