Micron Technologies Reports Strong Q1 2026 Earnings Amid AI-Driven Demand
Micron Technologies reported robust Q1 2026 financial results with revenue reaching $13.6 billion, marking a 57% increase year over year. The company achieved a gross margin of 56%, operating income of $6.1 billion, net income of $5.24 billion, and a diluted earnings per share of $4.60.
AI-driven demand was the standout theme, with cloud memory revenue doubling year over year and mobile and client revenue growing by 63%. Management forecasted Q2 2026 revenue of $18 to $19 billion and noted that the company is effectively sold out of key AI memory products through 2026, according to Bloomberg.
Following the earnings announcement, Micron's shares rose about 12% in pre-market trading to around $250. The broader market reaction saw the Invesco QQQ index up nearly 1% pre-market, bitcoin stabilizing above $87,000, and AI and crypto-linked equities edging higher.
These results were viewed as a relief amid ongoing AI-related jitters reported at companies such as Oracle, Broadcom, and CoreWeave. The revenue figures were sourced from a 10-Q filing and referenced via TradingView.
