Micron Stock Falls After Record Q2 Earnings as AI Memory Boom Forces Bigger Spending
Micron Technology reported record quarterly revenue of $23.86 billion and adjusted earnings of $12.20 a share, forecasting a sharp rise next quarter. Shares fell about 5% after the company announced fiscal 2026 capital spending above $25 billion, $5 billion higher than previously planned. Micron cited surging AI-driven demand for memory chips and rising prices for DRAM and NAND. The company completed a $1.8 billion site purchase in Taiwan for expansion.