Q1 2026 Micron Technology Inc Earnings Call Transcript
Key Points
- Micron Technology Inc (MU) reported fiscal Q1 revenue, gross margin, and EPS well above the high end of their guidance.
- The company achieved record revenues in several segments, including DRAM, NAND, HBM, and data center revenue.
- Micron has completed agreements on price and volume for their entire calendar 2026 HBM supply, projecting significant growth in HBM TAM.
- The company is positioned as a leader in AI memory solutions, with strong demand expected to continue through 2026.
- Micron's technology leadership is evident with advancements in DRAM and NAND nodes, contributing to their competitive edge.
- Despite strong demand, Micron is unable to meet the full demand from several key customers due to supply constraints.
- The company anticipates tight market conditions to persist beyond calendar 2026, impacting their ability to fully capitalize on demand.
- Micron's CapEx is increasing to $20 billion, primarily to support HBM supply capability, which may strain financial resources.
- There are concerns about potential impacts on consumer electronics demand due to increasing memory prices.
- The company faces challenges in expanding clean room space and accelerating production to meet growing demand.
Thank you for standing by and welcome to Micron's first quarter 2026 financial call.
At this time, all participants are listen-only mode.
After the speaker's presentation, there will be a question-and-answer session, to ask a question during this session, you'll need to press star 11 on your telephone.
If your question has been answered and you'd like to remove yourself from the queue, simply press star 11 again.
As a reminder, today's how I'd like to be your host for today's program, Satya Kumar, investor relations.
Please go ahead, sir.
Thank you and welcome to Mic
Ron Technologies fiscal 1st quarter of 2026 financial conference call.
On the call with me today are Sanjay Merotra, a Chairman, President, and CEO, and Mark Murphy, our CFO.
Today's call is being webcast from our investor relations site at Investors.micron.com, including audio and slides.
In addition, the press release detailing our quarterly results has
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