Micron Technology Inc.

Strong Revenue Growth: Micron reported fiscal Q2 revenue of approximately $8.1 billion, representing a year-over-year increase of 38%. DRAM revenue reached $6.1 billion, up 47% YOY, while NAND revenue was $1.9 billion, up 18% YOY. The company is forecasting growth in both DRAM and NAND bit shipments for fiscal Q3, with total revenue guidance of $8.8 billion, plus or minus $200 million.

Record HBM Revenue: The data center DRAM revenue reached a record for Micron, with HBM revenues growing more than 50% sequentially to over $1 billion. Expectations for fiscal Q3 suggest continued strength in HBM demand propelled by AI and data center growth, with a mid-single-digit server unit growth forecast for calendar 2025 and an increased HBM Total Addressable Market (TAM) estimate of over $35 billion.

Market Outlook and Bit Demand: Micron upgraded its calendar 2025 global DRAM bit demand growth forecast to mid- to high teens percentage range, driven by recovery in consumer markets (like PCs and smartphones) and robust data center demand. The ongoing need for higher memory capacities in AI applications is also a crucial driver for bit demand.