Micron Technology Q2 Revenue Nearly Doubles Year-over-Year; Large Capital Expenditures Fuel Market Concerns, Stock Drops About 6% After Hours

| March 19, 2026, Thursday |

NO.1 Micron Technology Q2 Revenue Nearly Doubles Year-over-Year, High Capital Expenditures Spark Market Concerns, Shares Drop About 6% After Hours

On March 18, Eastern Time, Micron Technology announced that for the second quarter of fiscal year 2026 ending February 26, revenue increased nearly twofold year-over-year to approximately $23.9 billion. Non-GAAP adjusted earnings per share (EPS) were $12.20, significantly above market expectations. Micron stated that this quarter set records in revenue, gross margin, EPS, and free cash flow. The company expects third-quarter revenue to reach about $33.5 billion, an increase of over 200% year-over-year, with adjusted EPS around $19.15, far exceeding market forecasts of $24.3 billion in revenue and about $12 EPS. CEO Sanjay Mehrotra said that AI-driven storage demand growth, structural supply constraints, and improved execution have collectively led to substantial upgrades in performance and guidance.

However, alongside demand explosion, capital expenditures have risen sharply. The company expects capital spending for the fiscal year to exceed $25 billion, higher than the previous market estimate of $22.4 billion, and anticipates further significant increases in 2027, especially with additional investments of over $10 billion in wafer plant construction. After hours on Wednesday, Micron’s shares fell nearly 6%.

Comment: Micron’s explosive performance confirms an AI-driven super cycle in storage, but above-expected capital spending raises market concerns.

NO.2 Samsung Faces Largest Strike Threat in History, Potentially Disrupting Global Semiconductor Supply Chain

On March 18, media reports indicated that the “Joint Struggle Headquarters,” composed of multiple unions at Samsung Electronics, announced that an overwhelming 93.1% support vote was in favor of a strike starting from March 9. The union plans to initiate an 18-day nationwide strike in late May. In the current boom of global data center construction fueling semiconductor demand, this move could cause severe disruptions to the global AI semiconductor supply chain. Industry estimates suggest that if a full strike occurs, Samsung Electronics could face total losses of 5 trillion to 9 trillion Korean won (approximately RMB 231.2 billion to 416.2 billion). This includes wafer scrap from halted production lines, penalties for delayed deliveries, and maintenance costs for key equipment shutdowns.

Comment: Samsung faces the largest strike threat in history, which could severely impact its core storage chip capacity. In the context of booming global AI demand, this could exacerbate semiconductor supply chain tensions.

NO.3 Turing Award for 2025 Announced! Two Recipients Win “Nobel Prize in Computing”

On March 18, the Turing Award, often called the “Nobel Prize of Computing,” was announced. The Association for Computing Machinery (ACM) awarded the 2025 Turing Award to American physicist and IBM researcher Charles Bennett and Canadian computer scientist and University of Montreal professor Gilles Brassard, recognizing their pioneering contributions to establishing the foundation of quantum information science and advancing secure communication and quantum computing. Bennett and Brassard are widely regarded as founders of quantum information science. Their key contribution was proposing a new perspective: quantum phenomena are not only properties of the physical world but can also serve as technological resources for processing and transmitting information.

Comment: The 2025 Turing Award to quantum information pioneers marks the highest academic recognition for foundational research in this field.

NO.4 Mysterious Model Hunter Alpha Claimed, Xiaomi Launches Three Self-Developed Large Models

On March 19, Xiaomi announced a major update to the MiMo large model series: the flagship base model MiMo-V2-Pro, the multimodal agent model MiMo-V2-Omni, and MiMo-V2-TTS. These three models are designed to optimize intelligent agent capabilities. Notably, a week ago, an anonymous model codenamed Hunter Alpha was launched on OpenRouter, the world’s largest API aggregation platform. During its launch, usage continued to rise, and as of press time, total calls exceeded 1 trillion tokens. Xiaomi revealed that Hunter Alpha is an early internal test version of MiMo-V2-Pro.

Comment: Xiaomi’s major update to the MiMo large model series will accelerate the commercialization of AI agents in office, terminal, and other scenarios.