On September 24, propelled by the escalating demand for artificial intelligence (AI) -enabled devices, Micron Technology—the foremost U.S. manufacturer of computer memory chips—issued a bullish earnings forecast on Tuesday. The company anticipates that its revenue for the first quarter of fiscal year 2026 will soar to around $12.5 billion, outstripping the market's consensus estimate of $11.9 billion. Moreover, earnings per share are projected to hit $3.75, surpassing the market's forecast of $3.05.

Micron's high - bandwidth memory (HBM), which plays a pivotal role in chips and systems dedicated to developing AI models, stands as a high - margin product for the company. After the earnings announcement, Micron's stock price surged by approximately 3% in after - hours trading. Notably, the stock has nearly doubled in value over the course of this year.

CEO Sanjay Mehrotra remarked that the data center business in fiscal year 2025 reached unprecedented heights. He also mentioned that the company entered fiscal year 2026 with strong momentum and a highly competitive product lineup. In the fourth quarter of fiscal year 2025, which concluded on August 28, Micron's sales witnessed a significant 46% increase, reaching $11.3 billion.