MU · 10-K · 2026A

MICRON TECHNOLOGY INC

Filed 2026-10-09 · Technology · View original filing on EDGAR

Ranked Events

• Balance Sheet and LiquidityImportance 89 · Surprise 82
  Cash and marketable investments increased to $73.45 billion at September 3, 2026, from $11.94 billion at August 28, 2025, including $5.12 billion held by foreign subsidiaries. The company received $12.75 billion of…
• Income Tax Rate ChangesImportance 89 · Surprise 82
  The effective income tax rate increased to 14.8% in fiscal 2026 from 11.6% in fiscal 2025, and the income tax provision increased to $14.761 billion from $1.124 billion. Singapore’s implementation of the 15% Pillar Two…
• Capital Expenditure OutlookImportance 75 · Surprise 60
  Micron estimates net property, plant, and equipment capital expenditures of approximately $11.5 billion in the first quarter of 2027 and approximately $25 billion in the first six months of 2027. The company expects…
• Operating Cash Flow TrendsImportance 69 · Surprise 64
  Net cash provided by operating activities increased to $89.675 billion in fiscal 2026 from $17.525 billion in fiscal 2025, primarily because of higher net income and increases in accounts payable, accrued expenses,…
• Gross Margin DriversImportance 69 · Surprise 64
  Consolidated gross margin increased to 81% in fiscal 2026 from 40% in fiscal 2025, with gross margin dollars rising to $107.504 billion from $14.873 billion. Margin expansion reflected higher average selling prices,…
• Revenue Performance and MixImportance 69 · Surprise 64
  Fiscal 2026 revenue increased 256% year over year to $133.188 billion from $37.378 billion, driven by higher DRAM and NAND sales. DRAM revenue increased 252%, reflecting an approximately 180% increase in average…
• Capital AllocationImportance 64 · Surprise 42
  The board increased the maximum discretionary share repurchase authorization to $35.16 billion on October 8, 2026, effective for repurchases beginning December 9, 2026. Fiscal 2026 cash uses included $650 million to…
• Pillar Two Global Minimum TaxImportance 61 · Surprise 66
  Singapore enacted legislation implementing the 15% Pillar Two Model Rules effective for Micron in fiscal 2026. The measure largely offset the benefit of Micron’s Singapore tax incentive arrangements and contributed to…
• Capital Expenditure ProgramImportance 60 · Surprise 24
  Fiscal 2026 capital expenditures for property, plant, and equipment totaled $30.71 billion, partially offset by $3.32 billion of government incentive proceeds. The company estimates net capital expenditures of…
• Strategic Customer AgreementsImportance 58 · Surprise 42
  Micron entered strategic customer agreements in the third and fourth quarters of 2026 and expects additional agreements as customers seek long-term access to advanced memory technology and supply. The agreements…
• Operating Expense TrendsImportance 56 · Surprise 46
  Research and development expense increased 49% year over year to $5.650 billion in fiscal 2026 from $3.798 billion, primarily due to higher employee compensation, including variable compensation, and increased…
• Acquisition / Partnership / DivestitureImportance 53 · Surprise 60
  Micron completed the acquisition of a wafer fabrication facility in Tongluo, Miaoli County, Taiwan, from Powerchip Semiconductor Manufacturing Corporation in March 2026. The cash consideration was $1.8 billion,…
• AI Research InvestmentImportance 52 · Surprise 42
  Micron established Micron Research Labs in August 2026 as a long-horizon research institution headquartered in Boise, Idaho. The company plans to invest approximately $10 billion over the next decade. The initiative is…
• Domestic Manufacturing InvestmentImportance 52 · Surprise 42
  Micron expects first DRAM wafer output from its Boise, Idaho, fab in mid-calendar 2027 and from its second Idaho fab in late calendar 2028. The company broke ground on its first New York fab in January 2026 and expects…
• Manufacturing Capacity ExpansionImportance 37 · Surprise 42
  Micron expects to add DRAM wafer capacity to support projected memory demand in the second half of the decade and beyond while maintaining stable bit share. Its U.S. expansion includes leading-edge fabs in Boise,…
• Product Launch and TransitionImportance 31 · Surprise 42
  Micron launched first production starts of its 1α DDR4 technology in its Manassas, Virginia, fab during 2026. The technology expands Micron’s ability to support legacy-product requirements in automotive, industrial,…
• AI Memory Supply ConstraintsImportance 23 · Surprise 24
  AI-driven memory and storage demand in 2026 outpaced Micron’s and the industry’s ability to increase supply. The company stated that demand growth accelerated faster than supply additions, requiring supply-allocation…
• Competition and Market ShareImportance 23 · Surprise 24
  Micron’s capacity strategy is intended to keep its bit share stable as industry demand expands, rather than relying only on density improvements from proprietary process technology. AI-driven demand is concentrating…
• AI Memory Demand TrendsImportance 23 · Surprise 24
  AI-driven memory and storage demand growth outpaced industry supply in 2026, with data-center demand increasing faster than Micron and the industry could add supply. Robust DRAM and NAND demand, combined with…

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