Micron rides AI-driven memory boom to strong Q2 and bold capacity plans

Micron beat expectations in its fiscal Q2 with $23.86B of revenue and $12.20 in adjusted EPS, driven by surging demand for Nvidia AI GPUs and tighter memory supply. It guided to about $33.5B in revenue and roughly $19.15 in adjusted EPS for the next quarter, while gross margin expanded to 74.4% and net income reached $13.8B. The company is accelerating capex, planning two new U.S. memory fabs in Idaho and New York to boost capacity, with Idaho production due mid-2027 and the New York site slated to start output by 2028; HBM memory for Nvidia is already in production, underscoring a long AI-driven growth trajectory.