Net income was $37.7 billion, translating to $32.87 per share; a year earlier it had been $3.2 billion and $2.83 per share. DRAM drove the quarter, with that segment's revenue up 343% to $39.8 billion and accounting for 73% of total sales.
A historic AI buildout has stretched global memory supplies thin, lifting chip prices and filtering through to consumer gadgets like Apple's iPads and MacBooks. High-bandwidth memory is central here. Advanced GPUs and CPUs from Nvidia and AMD are hungry for HBM, and the world's top HBM makers cannot produce enough to keep up.
Micron is the only HBM manufacturer based in the U.S., and it is pouring $250 billion into two new HBM campuses. The larger site started construction in Clay, New York, in January, while a new fab in Boise, Idaho, is slated to begin production next year. In South Korea, HBM heavyweights SK Hynix and Samsung are also expanding with large factory projects.
Among the three, Micron has the smallest HBM market share, yet its market value has still surpassed $1.2 trillion. The company's stock has soared more than 500% over the past year as the supply crunch collided with red-hot AI demand.
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On Tuesday, CEO Sanjay Mehrotra took part in an AI regulation summit led by President Donald Trump, only days after he was at a White House dinner with China's President Xi Jinping on his first U.S. visit in more than a decade. Company leaders plan to go over the numbers with analysts on a call that begins at 4:30pm ET. For your wallet, the takeaway is simple: AI is reshaping where the memory dollars flow, and Micron's results show how quickly that shift is translating into real revenue and profit.
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