Micron Shares Soar 8.4% on Record Q2 Revenue, 81% Gross Margin Driven by AI Demand
MU has more than doubled off its 52-week low of $103.38.
Summary
Micron shares jumped 8.4% intraday following reports of record Q2 FY2026 revenue, EPS, and free cash flow, with gross margins around 81%. This strong performance is attributed to robust AI data center demand, a trend seen in recent news where Micron's HBM supply was sold out and demand outpaced supply. The reported 81% gross margin is a significant improvement from approximately 37% a year ago, highlighting strong pricing power and profitability in the memory cycle. This indicates the AI demand is translating directly into substantial financial gains. The official Q2 earnings report is scheduled for June 24th.
At the time of this announcement, MU was trading at $1,151.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.3T. The 52-week trading range was $103.38 to $1,149.43. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.