Overview
- Micron says its high‑bandwidth memory is sold out for 2026 as AI orders accelerate.
- CEO Sanjay Mehrotra expects supply constraints to persist beyond calendar 2026, supporting firmer pricing.
- The company posted record Q1 fiscal 2026 revenue of $13.6 billion, up 57% year over year.
- TD Cowen raised its price target to $450, and shares are up more than 260% over 12 months and roughly 39% in January.
- Micron is expanding output with about $20 billion in FY26 capital spending and is reallocating capacity by ending Crucial consumer shipments next month.