Micron posts record $23.86B Q2 revenue; Seagate grows on AI data demand with $2.83B sales

Micron reported historic Q2 FY2026 results with $23.86 billion in revenue, a 74.4% gross margin, and $13.79 billion net income, driven by strong AI memory demand. The company forecasts even higher Q3 revenue of $33.5 billion and an 81% gross margin, reflecting robust AI infrastructure growth. Seagate also benefited from AI-driven data storage needs, delivering $2.83 billion in revenue and a 41.6% gross margin in the same quarter. Both companies enjoy positive analyst ratings, with Micron seen as a high-growth but cyclical play, while Seagate offers steadier returns amid expanding AI data demands.