AI-extracted from the 10-K filed 2026-10-09 — FY2026 (year ended September 3, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Micron swung to $84.97B net income on $133.2B revenue, a 256% increase YoY driven by AI-fueled DRAM and NAND demand and 81% gross margin, as strategic customer agreements accelerated supply commitments.
Biggest Revenue Drivers
DRAM Products$100.68B+252% YoY
Approximate 180% increase in average selling prices and mid-20% range increase in bit shipments, driven by AI-fueled data center demand.
Core Data Center Business Unit (CDBU)$37.59B+420% YoY
Data center SSDs and NAND components, driven by AI and cloud storage demand.
Biggest Revenue Drivers
Total revenue: $133.2B+256% YoY
DRAM Products$100.68B+252% YoY
Approximate 180% increase in average selling prices and mid-20% range increase in bit shipments, driven by AI-fueled data center demand.
Within DRAM Products
Cloud Memory Business Unit (CMBU)$43.09B+219% YoY
Strong demand for HBM, DDR5, and LPDDR5 from hyperscale cloud and data center customers
Core Data Center Business Unit (CDBU)$37.59B+420% YoY
Data center SSDs and NAND components, driven by AI and cloud storage demand.
Largest Expense Items
Cost of goods sold$25.68B+14% YoY
COGS increased slower than revenue; gross margin benefited from pricing power and manufacturing cost reductions.
Research and development$5.65B+49% YoY
Higher employee compensation, development wafers, and pre-qualification investments supporting long-term opportunities.
Selling, general, and administrative$1.95B+62% YoY
Increased employee compensation, including variable compensation, and community investments.
Margins: Consolidated gross margin expanded to 81% in 2026 from 40% in 2025, driven by substantial ASP increases for both DRAM and NAND, favorable product mix including higher-margin HBM, and manufacturing cost reductions from strong execution. The margin improvement reflects AI-driven supply constraints and strategic customer agreements with price-band protections.
Watch Items from the Filing
Strategic customer agreements with take-or-pay commitments represent major dependency shift; nearly all $12.75B in customer deposits received in 2026 are scheduled for repayment 2029–2031, creating refinancing risk if agreements are breached.
Taiwan represents majority of 2026 DRAM production output; geopolitical risks including potential conflict could materially disrupt supply and halt customer manufacturing.
Customer concentration remains high: top ten customers represent over half of total revenue; supply allocation decisions could impact smaller end markets and customer relationships.
Pillar Two tax legislation in Singapore largely offsets prior tax incentive arrangements, reducing tax benefit from $1.05B (2025) to $2.21B net (2026); ongoing tax reform uncertainty in multiple jurisdictions.
China Cyberspace Administration May 2023 ban on Micron products for Chinese critical infrastructure remains in effect, eliminating direct and indirect revenue from mainland China and Hong Kong customers.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
41 transactions in MU reported by 19 members of Congress under the STOCK Act, most recent trade Sep 24, 2026. Reported transactions, not recommendations.
About MICRON TECHNOLOGY INC (MU): stock profile, AI score and financials
MICRON TECHNOLOGY INC (MU) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores MU at 89.7/100 on a composite quality score built from its SEC filings, placing it at rank #1 of 2,925 stocks — the top 1% of the AI-ranked universe. MU scores in the top quartile across balance sheet strength (99.6), revenue scale (98.9), profitability (98.6). Based on the latest XBRL financial filings (Q4 2026), MICRON TECHNOLOGY INC reports quarterly revenue of $54.2B, net income of $37.7B, an operating margin of 80.7%. Top institutional holders of MU by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. MU trades on the Nasdaq exchange and files with the SEC under CIK 723125. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MU daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MICRON TECHNOLOGY INC directly from SEC EDGAR.