Micron leaps on HBM demand
Micron shares jumped over 5% to $426.13 as investors priced relentless demand for high‑bandwidth memory (HBM) used in AI workloads, spotlighting infrastructure suppliers as the next wave of AI bets reported. The move reinforces the market’s focus on 'picks and shovels' for AI compute stacks.
Micron says its calendar‑2026 HBM allocation is already sold out, with commitments that explicitly cover next‑generation HBM4 ([theregister.com)]. CEO comments on the quarter referenced six commercial customers that have contracted Micron’s HBM products. (theregister.com) The company reported fiscal Q1 2026 revenue of $13.64 billion, a 57% year‑over‑year increase, and expanded gross margin to about 56.8% on the quarter. ([barchart.com)] Micron raised its fiscal‑2026 capital‑expenditure plan to roughly $20 billion (up from $18 billion), saying the increase is weighted to the second half of the year and targeted at HBM and 1‑gamma DRAM capacity. ([fool.com)] Management guided fiscal Q2 revenue around $18.7 billion (±$0.4 billion) with gross margins targeted near 68% and non‑GAAP EPS guidance near $8.42 per share. ([ainvest.com)] Bullish analyst notes and upgrades cited the sold‑out HBM outlook as a driver for further upside, framing Micron as a core AI‑infrastructure supplier rather than a cyclical memory play. ([247wallst.com)] Micron is up roughly 34.5% year‑to‑date and traded close to a $437.80 52‑week high in recent sessions. ([business.times-online.com)] Micron projects the HBM market opportunity to expand dramatically—management has referenced TAM scenarios as high as ~$100 billion by 2028—while SK hynix and Samsung remain the main HBM rivals as analysts watch HBM4 share shifts starting in Q3 2026. ([msn.com)]
