Micron reported robust fiscal Q1-26 financial results, with revenue reaching $13.643 billion, a substantial increase from $8.709 billion year-over-year and $11.315 billion sequentially. Operating income surged to $6.136 billion from $2.174 billion in the prior year, resulting in an operating profit margin of 45.0%, up from 25.0%. This improved profitability is attributed to enhanced capacity utilization driven by rising demand from consumer electronics and data centers, largely fueled by artificial intelligence. Investments in capital expenditures were $4.5 billion, while adjusted free cash flow stood at $3.9 billion. The company effectively covered its capital investments through operating cash flow, distinguishing it from peers like Oracle and Intel who faced financial pressure by exceeding cash flow with CapEx. Long-term debt decreased by approximately $3 billion to $11.187 billion. For fiscal Q2-26, Micron projects revenue to increase to $18.70 billion (±$400 million) and gross margins to reach 67.0% (±1.0%). Diluted earnings per share are forecasted at $8.19 (±$0.20). An updated discounted cash flow (DCF) model indicates an intrinsic value per share of $263.01, slightly above the current market price of $252.13. Despite the stock's significant year-to-date increase, its forward P/E ratio of 6.91 suggests a relatively inexpensive valuation. The analysis reaffirms a buy rating, anticipating continued strengthening in business performance through fiscal 2026, supported by prudent financial management and strong market demand.