Micron Beats Q1 Estimates with Record $13.6B Revenue

Micron Technology, the Boise, Idaho-based memory and storage chipmaker, reported record first-quarter fiscal 2026 results on Wednesday, exceeding analyst expectations on revenue and earnings amid surging demand for high-bandwidth memory products driven by artificial intelligence applications. The company, a key supplier in the semiconductor industry, saw its shares climb 10.11 percent to close at $248.55, with trading volume surging to 63.9 million shares, well above its three-month average of 26.7 million.

For the quarter ended in November, Micron posted revenue of $13.64 billion, a 56 percent increase from $8.71 billion in the year-ago period and surpassing estimates of $12.85 billion. Adjusted earnings per share came in at $4.78, topping forecasts of $3.95. The performance was fueled by robust demand from data centers, particularly for high-bandwidth memory, or HBM, which is critical for AI training and deployment. Micron's HBM revenue reached an annualized run rate of about $8 billion, reflecting the ramp-up of its HBM3E products adopted across major AI platforms. The company has secured commitments for its entire HBM supply through 2026, with business executive Sumit...