By Tirthankar Chakraborty
Publication Date: 2026-01-09 20:05:00
Banking on the artificial intelligence (AI) boom, Sanjay Mehrotra-led Micron Technology, Inc. MU outperformed Wall Street’s darling NVIDIA Corporation NVDA last year (+239.1% vs +38.8%). Can Micron repeat the feat, or will this year see NVIDIA having the upper hand? Let’s find out.
Micron’s high-bandwidth memory (HBM) chips excel at handling large volumes of data while minimizing power consumption. Currently, these HBM chips are in short supply due to the AI infrastructure surge, which is fueling high demand and contributing significantly to Micron’s recent strong performance.
Micron reported revenues of $13.64 billion in first-quarter fiscal 2026, up 56.8% year over year, according to investors.micron.com. This exceeded analysts’ expectations of roughly $12.88 billion, reinforcing confidence that demand for Micron’s products remains strong.
All of Micron’s business segments saw revenue growth in the fiscal first quarter, including its core cloud memory business unit. This robust revenue performance helped Micron post non-GAAP net income of $5.48 billion, or $4.78 per share, above analysts’ projections of $3.94.
Additionally, fueled by AI-driven demand for HBM chips, Micron expects even stronger results for second-quarter fiscal 2026, with revenues of $18.3–$19.1 billion and earnings per share (EPS) of $8.22–$8.62. The company’s solid cash flow of $3.9 billion in the fiscal first quarter also…
