Micron Q2 Revenue Jumps 196% While Capex Plan Tops $25 Billion
Micron Technology’s Q2 FY26 non-GAAP EPS rose to $12.20 on 196% year-over-year revenue growth and gross margins near 75%. Management lifted fiscal 2026 capital expenditures above $25 billion, spurring a 4.4% after-hours selloff despite strong guidance.
1. Q2 FY26 Financial Results
Micron Technology reported Q2 FY26 non-GAAP EPS of $12.20 on 196% year-over-year revenue growth, with gross margins expanding to nearly 75%, substantially surpassing estimates and underscoring strong demand for AI-driven memory solutions.
2. Fiscal 2026 Capex Increase
The company increased its fiscal 2026 capital expenditure forecast to above $25 billion to accelerate production capacity expansion, reflecting sustained demand from data center and AI infrastructure customers.
3. Market Reaction and Outlook
Following the results, shares declined about 4.4% in after-hours trading as investors assessed the impact of elevated capex on cash flow; key trends to watch include forward revenue guidance, data center revenue growth, and consolidated gross margin sustainability.