"Micron posted revenue of $23.86 billion, beating estimates of $20.07 billion by 18.8% and rising 196.4% year over year. Non-GAAP EPS came in at $12.30, clearing the $9.31 consensus estimate by 32.1%."
"Micron guided Q3 FY26 revenue to $33.5 billion, plus or minus $750 million, with non-GAAP EPS of $19.15, plus or minus $0.40 and non-GAAP gross margin of 81.0%."
"Micron trades at a trailing P/E of 19x and a forward P/E of 4x. The PEG ratio sits at 0.259, signaling a growth stock trading well below its earnings trajectory."
"Micron's entire 2026 supply of HBM4 is already sold out, and the company can only fulfill 50% to 66% of key customers' medium-term bit demand due to limited clean room space."
Micron Technology achieved significant earnings in fiscal Q2 2026, with revenue of $23.86 billion, surpassing estimates by 18.8%. Non-GAAP EPS reached $12.30, exceeding consensus by 32.1%. The company anticipates Q3 FY26 revenue of $33.5 billion and non-GAAP EPS of $19.15. Despite strong performance, Micron's stock has fallen 15%, trading at a low P/E ratio compared to the sector. The supply of HBM4 is sold out, limiting fulfillment of customer demand, which enhances pricing power and margin stability.
Read at 24/7 Wall St.
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