MU · 10-Q · 2026Q2

MICRON TECHNOLOGY INC

Filed 2026-06-25 · Technology · View original filing on EDGAR

Ranked Events

• AI Infrastructure DemandImportance 89 · Surprise 82
  AI-driven memory and storage growth is outpacing industry supply, with data-center demand expanding faster than Micron and the broader industry can add capacity. Robust DRAM and NAND demand, combined with constrained…
• Capital Expenditure ProgramImportance 89 · Surprise 82
  Micron expects 2026 capital expenditures for property, plant, and equipment, net of government incentives, to be approximately $27 billion. During the first nine months of 2026, the company spent $19.60 billion on…
• Balance Sheet and LiquidityImportance 89 · Surprise 82
  Cash and marketable investments totaled $30.13 billion as of May 28, 2026, up from $11.94 billion as of August 28, 2025, including $5.40 billion held by foreign subsidiaries. Strategic customer agreements concluded to…
• Income Tax Rate ChangesImportance 84 · Surprise 74
  Micron’s effective tax rate was 15.0% in the third quarter of 2026, compared with 14.7% in the second quarter and 11.1% in the third quarter of 2025. The company recorded an income tax provision of $4.978 billion in…
• Pillar Two Global Minimum TaxImportance 71 · Surprise 60
  Singapore enacted legislation implementing the OECD’s 15% Pillar Two Model Rules, effective for Micron in fiscal 2026. The rules largely offset the benefit of Micron’s Singapore tax incentive arrangements and…
• Strategic Customer AgreementsImportance 71 · Surprise 60
  During the third and fourth quarters of fiscal 2026, Micron entered into strategic customer agreements and expects additional agreements as customers seek multi-year access to advanced memory and supply. The agreements…
• Operating Cash Flow TrendsImportance 69 · Surprise 64
  Net cash provided by operating activities increased to $45.702 billion in the first nine months of 2026 from $11.795 billion in the comparable 2025 period. The improvement primarily reflected higher net income,…
• Gross Margin DriversImportance 69 · Surprise 64
  Consolidated gross margin increased to 85% in the third quarter of 2026 from 74% in the second quarter and 38% in the third quarter of 2025. Nine-month 2026 gross margin reached 77%, compared with 38% in the prior-year…
• Revenue Performance and MixImportance 69 · Surprise 64
  Third-quarter 2026 revenue increased 74% sequentially to $41.456 billion and 346% year over year, while nine-month revenue increased 203% to $78.959 billion. DRAM revenue rose 67% sequentially and 343% year over year,…
• Capital Expenditure OutlookImportance 68 · Surprise 42
  Micron estimates fiscal 2026 capital expenditures for property, plant, and equipment, net of government-incentive proceeds, at approximately $27 billion. Actual spending may vary with market conditions, quarterly…
• AI Memory Supply ConstraintsImportance 64 · Surprise 42
  AI-driven memory and storage demand is growing faster than Micron and the broader industry can add supply in the third quarter of fiscal 2026. The imbalance has required supply-allocation decisions that may affect…
• Capital AllocationImportance 64 · Surprise 42
  Micron’s board authorized discretionary repurchases of up to $10 billion of common stock with no expiration date, and the company had repurchased $7.84 billion under the authorization through May 28, 2026.…
• Operating Expense TrendsImportance 39 · Surprise 38
  Third-quarter 2026 research and development expense increased 5% sequentially, primarily because of higher employee compensation. Third-quarter and nine-month R&D expense each increased 36% year over year as Micron…
• Domestic Manufacturing InvestmentImportance 37 · Surprise 42
  Micron is expanding leading-edge DRAM manufacturing in Boise, Idaho, and Clay, New York, supported by the U.S. CHIPS Act. The Boise fab is expected to produce its first DRAM wafers in mid-calendar 2027, while a second…
• Manufacturing Capacity ExpansionImportance 37 · Surprise 42
  Micron plans to begin construction of a second leading-edge DRAM fab in Idaho in 2026, with initial wafer output expected by late calendar 2028, while the first Boise fab is projected to produce its first DRAM wafers…
• Global Manufacturing FootprintImportance 10 · Surprise 6
  Micron operates a global manufacturing network combining wholly owned facilities with subcontractors for certain manufacturing processes. Centers of excellence in locations including Singapore and Taiwan integrate…
• Competition and Market ShareImportance 10 · Surprise 6
  Micron faces intense competition across semiconductor memory and storage markets, requiring continued development of new products and technologies and ongoing manufacturing-cost reductions. Competitive positioning…
• Products and TechnologyImportance 10 · Surprise 6
  Micron offers DRAM, NAND, and NOR products in components, modules, SSDs, managed NAND, multi-chip packages, and wafers. DRAM addresses data-center, client PC, graphics, industrial, mobile, and automotive markets, with…

Revenue by Product (in millions)