Micron Forecasts $18.3–$19.1B Q2 Revenue as HBM Demand Tightens Supply
Micron forecasts fiscal Q2 2026 revenue of $18.3–$19.1 billion, driven by supply-constrained high-bandwidth memory chip demand that’s bolstering pricing power and profit margins. Oracle’s remaining performance obligations soared 438% year-over-year to $523 billion, but its 328.3% debt-to-equity ratio and 25.3% net margin trail Micron’s 19% leverage and 28.2% margin.
1. Q2 Revenue Forecast and HBM Demand
Micron projects fiscal second-quarter 2026 revenue of $18.3–$19.1 billion, up from $13.64 billion in Q1, as AI hyperscalers and data center operators stretch limited high-bandwidth memory chip supplies, strengthening unit pricing and profit margins.
2. Oracle’s RPO Growth and Financial Risk
Oracle’s remaining performance obligations climbed 438% year-over-year to $523 billion, driven by new cloud and AI database contracts, but its debt-to-equity ratio of 328.3% and stalled AI partnerships increase its financial vulnerability.
3. Profitability and Investment Outlook
Micron’s 28.2% net profit margin and 19% leverage position it for stronger cash flow and growth potential, while Oracle’s 25.3% margin and higher debt weigh on its risk profile, making Micron the more attractive AI chip investment.