[{"data":1,"prerenderedAt":178},["ShallowReactive",2],{"triple-beat-MU":3,"og-beat-monitoring-MU":177},{"ticker":4,"name":5,"description":6,"epsLabel":7,"guidanceLabel":8,"stockLabel":9,"quarters":10,"tableNotes":141,"highlightQuarter":90,"highlightDescription":145,"sources":146},"MU","Micron Technology","DRAM・NANDフラッシュメモリの世界3強の一角。HBM（高帯域メモリ）需要爆発でAIデータセンター向け売上が急拡大した転換ストーリー。Q2 FY25 (2025/3) はガイダンスがコンセンサスを+3.5%上回ったが株価-8.0%と「材料出尽くし」の様相だったが、Q4 FY25 (2025/9) 以降コンセンサスを毎期15〜20%以上の幅でビートに転じ、株価は2025/9 $161.71 → 2026/3 $444.27で約2.7倍に化けた。ガイダンスの連続大幅上振れが「構造転換」のシグナルだったパターンの典型例。","EPS ($, 非GAAP 希薄化後)","次Q売上ガイド (midpoint, $B)","株価反応 ($)",[11,37,63,89,115],{"quarter":12,"reportDate":13,"event":14,"revenue":15,"eps":20,"guidance":24,"stock":33},"Q2 FY25","2025/3/20","HBM売上$10億超え達成、Q3ガイドはコンセンサス上振れだが株価-8.0%",{"actual":16,"consensus":17,"beatPct":18,"yoyPct":19},"$8.05 B","$7.93 B",1.6,38,{"actual":21,"consensus":22,"beatPct":23},"$1.56","$1.43",9.1,{"revenue":25,"eps":29},{"company":26,"consensus":27,"beatPct":28},"$8.80 B","$8.50 B",3.5,{"company":30,"consensus":31,"beatPct":32},"$1.57","$1.47",6.8,{"reportClose":34,"nextClose":35,"changePct":36},"$103.00","$94.72",-8,{"quarter":38,"reportDate":39,"event":40,"revenue":41,"eps":46,"guidance":50,"stock":59},"Q3 FY25","2025/6/25","Data Center売上前年比倍増、HBM売上前Q比+50%(run rate $6B超) — AIメモリ需要が牽引",{"actual":42,"consensus":43,"beatPct":44,"yoyPct":45},"$9.30 B","$8.87 B",4.9,36.6,{"actual":47,"consensus":48,"beatPct":49},"$1.91","$1.60",19.4,{"revenue":51,"eps":55},{"company":52,"consensus":53,"beatPct":54},"$10.70 B","$9.90 B",8.1,{"company":56,"consensus":57,"beatPct":58},"$2.50","$2.03",23.2,{"reportClose":60,"nextClose":61,"changePct":62},"$127.25","$126.00",-1,{"quarter":64,"reportDate":65,"event":66,"revenue":67,"eps":72,"guidance":76,"stock":85},"Q4 FY25","2025/9/23","AI HBM需要本格化、Q1ガイドEPS+21.0%の上振れ",{"actual":68,"consensus":69,"beatPct":70,"yoyPct":71},"$11.32 B","$11.22 B",0.9,46,{"actual":73,"consensus":74,"beatPct":75},"$3.03","$2.86",5.9,{"revenue":77,"eps":81},{"company":78,"consensus":79,"beatPct":80},"$12.50 B","$11.94 B",4.7,{"company":82,"consensus":83,"beatPct":84},"$3.75","$3.10",21,{"reportClose":86,"nextClose":87,"changePct":88},"$166.41","$161.71",-2.8,{"quarter":90,"reportDate":91,"event":92,"revenue":93,"eps":98,"guidance":102,"stock":111},"Q1 FY26","2025/12/17","売上+6.3%・EPS+21.3%、Q2ガイドはEPS+87.5%の異常上振れで構造転換確信",{"actual":94,"consensus":95,"beatPct":96,"yoyPct":97},"$13.64 B","$12.83 B",6.3,56.7,{"actual":99,"consensus":100,"beatPct":101},"$4.78","$3.94",21.3,{"revenue":103,"eps":107},{"company":104,"consensus":105,"beatPct":106},"$18.70 B","$14.23 B",31.4,{"company":108,"consensus":109,"beatPct":110},"$8.42","$4.49",87.5,{"reportClose":112,"nextClose":113,"changePct":114},"$225.52","$248.55",10.2,{"quarter":116,"reportDate":117,"event":118,"revenue":119,"eps":124,"guidance":128,"stock":137},"Q2 FY26","2026/3/18","売上+18.9%・EPS+31.0%・Q3ガイドEPS+59.2% トリプル大幅ビート、YoY+196%",{"actual":120,"consensus":121,"beatPct":122,"yoyPct":123},"$23.86 B","$20.07 B",18.9,196.3,{"actual":125,"consensus":126,"beatPct":127},"$12.20","$9.31",31,{"revenue":129,"eps":133},{"company":130,"consensus":131,"beatPct":132},"$33.50 B","$24.29 B",37.9,{"company":134,"consensus":135,"beatPct":136},"$19.15","$12.03",59.2,{"reportClose":138,"nextClose":139,"changePct":140},"$461.73","$444.27",-3.8,[142,143,144],"Micron は会計年度が8月末締め (FY2025 = 2024/9〜2025/8、FY2026 = 2025/9〜2026/8)。2025/3/20発表は Micron公式命名で Q2 FY25。","実績・会社ガイダンスは Micron 公式IR、コンセンサスは LSEG / FactSet / Investing.com / StreetInsider / MarketScreener 経由の事前コンセンサス代表値。株価は Yahoo / StockAnalysis / Fintel 終値を照合。","ガイダンス上振れ率 = 会社提示midpoint vs 事前アナリスト予想midpoint。","決定的だったのはQ1 FY26（2025/12/17発表）。実績ビート（売上+6.3%・EPS+21.3%）も大きかったが、本質はQ2 FY26ガイダンスを売上+31.4%・**EPS+87.5%**の幅でコンセンサスを上回らせたこと。アナリストが想定していた次四半期のEPSを「実質1.9倍」のガイダンスを経営自身が宣言したことで、市場のコンセンサス（=株価織り込み）が根本から覆された瞬間。翌日株価は$225.52→$248.55（+10.2%）。これを起点に「ガイダンス15〜20%以上ビートを連続で出す会社は構造転換のシグナル」というパターンが教科書化し、続くQ2 FY26（売上+18.9%・EPS+31.0%・YoY+196%・ガイドさらに+37.9%）で確信に。最初の異変（Q4 FY25翌日$161.71）から足元まで約4.5倍。",[147,150,153,156,159,162,165,168,171,174],{"label":148,"url":149},"Micron Reports Fiscal Q2 2025 Financial Results","https://investors.micron.com/news-releases/news-release-details/micron-technology-inc-reports-results-second-quarter-fiscal-2025",{"label":151,"url":152},"CNBC: Micron Q2 FY2025 earnings (LSEG cons)","https://www.cnbc.com/2025/03/20/micron-mu-q2-earnings-2025.html",{"label":154,"url":155},"Nasdaq: Micron Q3 FY2025 results","https://www.nasdaq.com/press-release/micron-technology-inc-reports-results-third-quarter-fiscal-2025-2025-06-25",{"label":157,"url":158},"CNBC: Micron Q3 FY2025 earnings (LSEG cons)","https://www.cnbc.com/2025/06/25/micron-mu-q3-2025-earnings-report.html",{"label":160,"url":161},"Globenewswire: Micron Q4 FY2025 results","https://www.globenewswire.com/news-release/2025/09/23/3155077/14450/en/micron-technology-inc-reports-results-for-the-fourth-quarter-and-full-year-of-fiscal-2025.html",{"label":163,"url":164},"CNBC: Micron Q4 FY2025 earnings","https://www.cnbc.com/2025/09/23/micron-mu-q4-2025-earnings-report.html",{"label":166,"url":167},"Micron Reports Fiscal Q1 2026 Financial Results","https://investors.micron.com/news-releases/news-release-details/micron-technology-inc-reports-results-first-quarter-fiscal-2026",{"label":169,"url":170},"Investing.com: Micron Q1 FY26 (cons)","https://www.investing.com/news/earnings/micron-forecasts-sharply-higher-revenue-as-ailed-memory-drives-record-results-4413712",{"label":172,"url":173},"Micron Reports Fiscal Q2 2026 Financial Results","https://investors.micron.com/news-releases/news-release-details/micron-technology-inc-reports-results-second-quarter-fiscal-2026",{"label":175,"url":176},"Investing.com: Micron Q2 FY26 (cons)","https://www.investing.com/news/earnings/micron-beats-estimate-amid-aidriven-memory-demand-4569212","https://log.eurekapu.com/og/pages/general/beat-monitoring-MU.png?title=MU%20Micron%20Technology%20-%20%E3%83%93%E3%83%BC%E3%83%88%E3%83%A2%E3%83%8B%E3%82%BF%E3%83%AA%E3%83%B3%E3%82%B0&sig=e41be12c9d4d3416",1779172235845]