Micron Earnings Are Good Enough, For Now (Rating Upgrade)

Impact · against what's priced in

Micron's massive upward revision to 2Q26 guidance and the confirmation that HBM is sold out through 2026 provide a significant positive catalyst. The scale of the guidance increase—nearly doubling prior expectations—suggests a substantial gap between previous market consensus and actual AI-driven demand.

MU+0.90

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In context

Guidance for 2Q26 revenue ($18.7 billion) and adjusted EPS ($8.42) nearly doubles previous expectations, while being 'more than sold out' of HBM for 2026 indicates extreme pricing power.

Read from the article alone

• earnings▲5%
• MU
• semiconductors
• guidance
• ai
• hbm
• memory chips

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