A refreshed Micron Technology thesis using latest official May 2026 data, Q2 FY2026 results, HBM4 production, AI server memory demand, data-center mix, U.S. manufacturing updates, capex, balance-sheet strength, and cycle risk.
References
Sources used in this report
Company earnings releaseMicron Q2 FY2026 results2026-03-18 · Latest revenue, gross margin, operating cash flow, Q3 guidance, business-unit results, balance sheet.SEC filingMicron FY2026 Q2 Form 10-Q2026-03-19 · Latest interim filing and risk-factor reference.SEC filingMicron FY2025 Form 10-K2025-10-03 · Annual business, risk, customer concentration and product baseline.Company press releaseMicron HBM4 production release2026-03-16 · HBM4 production, NVIDIA Vera Rubin positioning, Gen6 SSD and SOCAMM2 context.Company press releaseMicron 256GB DDR5 server module release2026-05-12 · Latest AI server-memory product update.Company press releaseMicron Virginia manufacturing expansion2026-05-22 · Latest U.S. manufacturing and 1-alpha DRAM update.