On Thursday (the 18th), Micron Technology's stock price experienced a remarkable surge of 10.21%. This upswing was fueled by the soaring demand for memory, a direct consequence of the escalating artificial intelligence (AI) workloads, which have led to a concurrent rise in both memory prices and demand. Micron Technology disclosed that for the first quarter of fiscal year 2026 (concluding on November 27), it achieved revenue of $13.64 billion. This figure not only surpassed the analysts' anticipated $12.95 billion but also marked a significant year-over-year increase of 56.65% and a quarter-over-quarter rise of 20.57%. The adjusted net profit soared to $5.482 billion, a notable jump from the $3.469 billion recorded in the corresponding period of the previous year. Looking ahead, the company anticipates its revenue for the second quarter of fiscal year 2026 to range between $18.3 billion and $19.1 billion, with a projected gross margin of 67.0±1.0%. Both these projections significantly outstrip market expectations. Micron Technology has successfully negotiated agreements with its customers regarding pricing and volume for its high-bandwidth memory (HBM) supply throughout fiscal year 2026, with all its HBM products already sold out. The total potential market size for HBM is now projected to reach a staggering $100 billion by 2028, a full two years ahead of the previously forecasted timeline. Moreover, the company has revised its capital expenditure plan for fiscal year 2026, increasing it from $18 billion to an estimated $20 billion, in a bid to bolster its HBM and 1-gamma DRAM supply capabilities.