Deutsche Bank Applauds Micron’s (MU) Consistent Execution and Technical Leadership Following Record Results

Core Viewpoint - Micron Technology Inc. is experiencing significant growth driven by AI demand, with Deutsche Bank raising its price target and maintaining a Buy rating following strong earnings results [1][2]. Financial Performance - In FQ1 2026, Micron reported total revenue of $13.6 billion, a 57% increase year-over-year, largely due to AI-driven demand [2]. - The non-GAAP EPS for the quarter was $4.78, reflecting a 58% sequential increase [2]. - DRAM revenue accounted for $10.8 billion, representing 79% of total sales, while NAND revenue was $2.7 billion [2]. Market Position and Future Outlook - Micron has established itself as a leader in the HBM market, securing price and volume agreements for its entire 2026 HBM supply, including the upcoming HBM4 [3]. - The total addressable market (TAM) for HBM is projected to reach $100 billion by 2028 [3]. - For FQ2, Micron anticipates revenue of $18.7 billion and a non-GAAP EPS of $8.42, indicating continued growth momentum [3]. Company Overview - Micron Technology Inc. designs, develops, manufactures, and sells memory and storage products across various international markets, including the US, Taiwan, Singapore, Japan, Malaysia, China, and India [4].