Micron stock falls despite strong Q2, nearly tripled revenue compared to previous year
Micron Technology Earnings
/Micron Technology said it nearly tripled year-over-year revenue during a strong fiscal quarter on Wednesday, March 18.
Micron’s quarterly revenue grew to $23.86 billion in Q2 versus 13.64 billion in Q1 of the fiscal year. The company’s revenue was $8.05 billion for the same period last year.
The company is confident it will continue. CEO Sanjay Mehrotra said Q3 revenue guidance set on Wednesday, exceeds the full year revenue for every year in the company’s history through fiscal year 2024.
Mehrotra said Q2 was “driven by a strong demand environment, tight industry supply, and our strong execution, and we expect significant records again in fiscal Q3,”
Despite the strong results, experts said Micron’s aggressive spending plan led to a sell-off after the market closed on Wednesday. During after hour trading Micron’s stock fell $20, after closing at a record high of $461.
Micron is building giant fabrication plants in Idaho and right here in Clay, N.Y.
Clay was referenced once during Mehrotra’s presentation to shareholders on Wednesday.
“We broke ground on our first fab at the New York site, and initial ground preparation activities are ahead of plan.” Mehrotra wrote on a powerpoint slide.
Construction also remained a priority for Micron, with the CEO writing, “due to the need for cleanroom capacity, we expect our construction spend growth rate to outpace equipment spend growth in both fiscal 2026 and fiscal 2027.”
Micron Technology Stock Quotes
Stock Market Today, March 18: Micron Technology Holds Steady as Investors React to Key Earnings Report on AI Memory Demand
Micron Technology manufactures DRAM, flash memory, and SSDs. The stock closed Wednesday at $461.73, essentially flat with a 0.01% gain, as coverage and analyst previews highlight its after-the-bell fiscal Q2 earnings report. It’s a key test of AI-driven memory demand and elevated valuation expectations.
Trading volume reached 46.1 million shares, coming in about 30% above its three-month average of 35.5 million shares. Micron Technology IPO’d in 1984 and has grown 32,647% since going public.
What this means for investors
Micron stock has soared this year as investors focus on skyrocketing AI-driven memory pricing. Tech sector investors monitoring earnings didn’t move Micron shares much during the session with expectations that quickly rising sales and earnings may already be priced into Micron stock.
Micron reported earnings after the market close confirming that revenue nearly tripled from the year-ago period and soared 75% just since last quarter. Income and cash flow also jumped to record levels. Micron CEO Sanjay Mehrotra called memory a “strategic asset” in the AI era.
Shares dipped after hours on the report, though, as investors reacted with a “sell the news” mentality, even as the company predicted another sharp increase in revenue in fiscal Q3.
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