Micron Technology, Inc. reported significant financial growth in its latest 10-Q filing for the quarter ending February 26, 2026, with total revenue reaching $23.86 billion, a 196% increase compared to $8.05 billion in the same quarter of the previous year. The company's net income also saw a substantial rise, amounting to $13.79 billion, up from $1.58 billion year-over-year. For the first six months of fiscal 2026, revenue totaled $37.50 billion, a 124% increase from $16.76 billion in the prior year, driven primarily by strong demand for DRAM and NAND products.
The filing highlighted a notable increase in sales of DRAM products, which surged by 207% year-over-year, attributed to a mid-110% rise in average selling prices and a mid-40% increase in bit shipments. NAND product sales also experienced a significant boost, increasing by 169% due to a more than 100% rise in average selling prices and a 30% increase in bit shipments. The gross margin for the second quarter improved to 74%, up from 37% in the same quarter last year, reflecting enhanced pricing and manufacturing efficiencies.
Strategically, Micron has been active in expanding its manufacturing capabilities, including the acquisition of a wafer fabrication facility in Taiwan for $1.8 billion, which is expected to support production starting in 2028. The company is also investing heavily in U.S. manufacturing, with plans to construct new fabs in Idaho and New York, supported by government incentives under the CHIPS Act. These expansions are aimed at meeting the growing demand for memory products, particularly driven by advancements in artificial intelligence.
Operationally, Micron's workforce has grown, with the company reporting an increase in employee headcount to support its expanding operations. The filing noted that the company is focused on maintaining a competitive edge through continuous investment in research and development, which totaled $1.25 billion in the latest quarter, up from $898 million a year earlier. The company also reported a strong cash position, with cash and cash equivalents amounting to $13.91 billion as of February 26, 2026.
Looking ahead, Micron anticipates continued demand growth for its products, particularly in the data center and AI sectors. However, the company acknowledged potential risks, including market volatility and geopolitical tensions that could impact supply chains and customer demand. The outlook remains optimistic, with expectations for sustained revenue growth and profitability as the company ramps up production capabilities and leverages its technological advancements.
About MICRON TECHNOLOGY INC
Micron Technology, Inc. is a global leader in memory and storage solutions, producing high-performance DRAM, NAND, and NOR products for data centers, PCs, mobile devices, and embedded markets. Its offerings support AI, cloud computing, gaming, and automotive applications. The company emphasizes technological innovation, manufacturing excellence, and customer collaboration to deliver competitive, reliable memory solutions across diverse markets worldwide.
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