Form 10-K · Annual report
Micron Technology 10-K, filed Oct 9, 2026
- Filed
- CIK
- 0000723125
- Accession no.
- 0000723125-26-000023
Summary
Micron Technology reported fiscal 2026 revenue of $133.2 billion, up 256% from $37.4 billion a year earlier, with net income of $85.0 billion and an 81% gross margin, as AI-driven memory and storage demand grew faster than the industry could add supply. The company said it entered take-or-pay strategic customer agreements with binding multi-year volume commitments and, for most, minimum and maximum price bands in the third and fourth quarters of 2026, and it expects gross margins from those agreements to exceed its past peak quarterly margins.
Key points
- Fiscal 2026 DRAM sales rose 252% on an approximately 180% increase in average selling prices and a mid-20% range increase in bit shipments.
- Fiscal 2026 NAND sales rose 274% on an approximately 200% increase in average selling prices and a mid-20% range increase in bit shipments.
- Research and development expense rose 49% and selling, general and administrative expense rose 62% year over year.
- Business unit revenue for fiscal 2026: CMBU $43.1 billion, CDBU $37.6 billion, MCBU $36.6 billion, AEBU $15.9 billion.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 7. MANAGEMENT’S DISCUSSION Overview For an overview of our business, see Part I, Item 1. Business, Overview. Industry Conditions Memory and Storage Demand AI-driven memory and storage demand growth is outpacing industry supply. In 2026, we continued to benefit from substantial improvements in pricing and margins, reflecting strong demand growth, driven in large part by the continued advancement of AI. The AI-driven growth in the data center has accelerated demand for memory and storage at a rate greater than our ability and the industry’s ability to increase supply. This has led to decisions on supply allocation that may impact certain customers and end markets. …
An excerpt of the text as filed with the SEC, cut for length.
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