Micron's upcoming earnings are the week's marquee event for AI infrastructure investors, with the company having already posted $37.4B in FY2025 revenue (up ~49% YoY) and $7.59 in diluted EPS on 39.8% gross margins. HBM memory for AI accelerators has been the primary demand driver, and the key question is whether pricing and allocation trends remain tight enough to sustain — or expand — these margins into the next fiscal year.

The report doubles as a sector-wide read: guidance commentary on HBM supply/demand balance will ripple into NVDA, AMD, and the broader AI buildout thesis. Watch for gross margin trajectory and data-center revenue mix as the leading indicators of whether the current cycle has legs or is approaching digestion.