Micron’s Q2 Revenue Jumps 196% to $23.9B, Shares Down 3.8%
Micron reported fiscal Q2 revenue of $23.86B, up 196% year-over-year, net income of $13.8B, and outlined a $25B+ capex plan for FY2026. Shares slid 3.8% on a 98% volume surge following investor profit-taking and a Summit Insights downgrade to hold.
1. Strong Fiscal Q2 Results
Micron delivered revenue of $23.86 billion for fiscal Q2, marking a 196% year-over-year increase, while net income surged to $13.8 billion as AI infrastructure demand fueled memory sales.
2. Aggressive Capital Spending Outline
The company unveiled a capital expenditure budget exceeding $25 billion for fiscal 2026 aimed at expanding AI memory fabrication capacity, prompting investor caution over potential oversupply and margin pressure.
3. Share Sell-off and Analyst Downgrade
Following the earnings release, shares declined 3.8% on trading volume up 98% as investors locked in gains, and Summit Insights cut its rating from buy to hold, signaling heightened caution.