Micron Technology Reports Strong Q2 2026 Results, Driven by AI-Fueled Memory and Storage Demand

Robust DRAM and NAND sales, manufacturing cost reductions, and favorable mix drive significant margin expansion

Mar. 19, 2026 at 10:04am

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Micron Technology, Inc., an industry leader in innovative memory and storage solutions, reported strong financial results for the second quarter of fiscal year 2026. The company's revenue increased 75% sequentially and 196% year-over-year, driven by substantial improvements in pricing and margins for both DRAM and NAND products. The AI-driven growth in the data center has accelerated demand for memory and storage at a rate greater than the industry's ability to increase supply, leading to decisions on supply allocation that may impact certain customers and end markets. Micron's consolidated gross margin expanded to 74% in the second quarter, up from 56% in the prior quarter and 37% in the year-ago period, reflecting the favorable market conditions and the company's operational excellence.

Why it matters

Micron's robust performance highlights the significant demand for memory and storage driven by the rapid expansion of AI and data-centric applications. The company's ability to navigate the supply-demand imbalance and deliver strong financial results demonstrates its technology leadership and operational capabilities. Micron's investments in manufacturing capacity, both in the U.S. and globally, position it to meet the growing market demand and maintain its competitive position in the industry.

The details

Micron's revenue for the second quarter of 2026 increased 75% sequentially, primarily due to a mid-60% range increase in DRAM average selling prices and a high-70% range increase in NAND average selling prices, along with mid-single-digit and low-single-digit percentage increases in DRAM and NAND bit shipments, respectively. The company's consolidated gross margin expanded to 74% in the second quarter, up from 56% in the prior quarter, driven by the improvements in margins for both DRAM and NAND products. Micron's operating income increased significantly across all of its business units, reflecting the strong demand and pricing environment, as well as manufacturing cost reductions.

  • Micron broke ground on a leading-edge memory manufacturing fab in Boise, Idaho in September 2022, with first DRAM wafer output projected in mid-calendar 2027.
  • In June 2025, Micron announced plans for a second leading-edge memory manufacturing fab in Idaho, with construction to begin in 2026 and operations expected by the end of 2028.
  • Micron broke ground on its first leading-edge DRAM memory manufacturing site in Clay, New York in January 2026, with plans for up to four fabs to be built over the next 20-plus years.
  • Micron completed the acquisition of a wafer fabrication facility in Tongluo, Taiwan from Powerchip Semiconductor Manufacturing Corporation on March 15, 2026, with plans to begin construction of a second cleanroom at the site by the end of 2026.

The players

Micron Technology, Inc.

An industry leader in innovative memory and storage solutions, transforming how the world uses information to enrich life for all.

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The takeaway

Micron's strong financial performance and continued investments in manufacturing capacity, both in the U.S. and globally, demonstrate the company's ability to capitalize on the surging demand for memory and storage driven by the rapid growth of AI and data-centric applications. Micron's commitment to technology leadership and operational excellence positions it well to maintain its competitive edge in the industry.