Key facts: Micron Q2 Beats; Supply Tight; Morningstar $850 Value

Micron (MU) posted strong recent quarters: Q2 FY2026 revenue $23.86B with record margins, EPS and free cash flow, plus guidance (~$50B) and $22B in customer commitments; rising AI

Micron (MU) posted strong recent quarters: Q2 FY2026 revenue $23.86B with record margins, EPS and free cash flow, plus guidance (~$50B) and $22B in customer commitments; rising AI DRAM demand
Micron CEO Sanjay Mehrotra: memory supply remains tight, new capacity limited for about a year with most additions in 2028; Micron cites stronger market position and long-term customer deals.
Morningstar raised Micron’s fair value to $850 from $455, noting AI-driven memory pricing may normalize and the stock could stay overvalued given cyclical risks in the memory market.
HSBC says Micron (MU) trades at a premium to SK Hynix due to stronger U.S. investor access and a more shareholder-focused policy — relevant for MU valuation ahead of Hynix’s Nasdaq move.