Micron Technology Delivers Strong Q2 2025 Results with HBM Sales Surging to $35 Billion

Micron Technology, a leading provider of advanced memory and storage solutions, has announced strong results for its fiscal second quarter 2025. The company's performance was highlighted by significant growth in sales of High-Bandwidth Memory (HBM), which surged to $35 billion, driven by increased shipments and faster adoption of higher-layer products.

According to Sumit Sadana, Chief Business Officer at Micron, the HBM market is experiencing robust demand, with most of the volume expected to be 12-high in the second half of the calendar year. This shift towards higher-layer products not only increases capacity but also results in a higher Average Selling Price (ASP) due to improved content.

Micron's own shipments have been ahead of forecast and internal plans, contributing to the increase in HBM sales. The company is confident about its trajectory in this market segment and believes that demand for HBM will continue to be robust.

In addition to the growth in HBM sales, Micron has also provided guidance on gross margins. Mark Murphy, Chief Financial Officer, mentioned that start-up costs related to new DRAM nodes are expected to have a modest impact of around 30-40 basis points on gross margin in Q4 and will increase through 2026 as production levels rise.

The company is also experiencing higher-cost inventories due to NAND underutilization. These costs are reflected in current inventory levels and will begin to pass through into the fourth quarter and 2026.

Overall, Micron's Q2 2025 results demonstrate strong growth in key areas, driven by increasing demand for advanced memory solutions.