Micron Q4 FY26: bigger bit base and more HBM support a longer memory cycle
BenBajarin · x · 2026-10-02
Creative Strategies analyst Ben Bajarin published a research note on Micron's FY26 Q4 earnings. Core thesis: Micron enters the next phase of the memory cycle with a larger bit base, higher HBM content, and a growing share of demand under contract.
Operationally the results support a "better-for-longer" memory thesis — demand visibility is extending while the supply response stays slow — though Bajarin cautions memory remains cyclical.
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