Micron Technology (NASDAQ:MU) reported a 4.4% drop in its stock after reporting a strong second-quarter revenue of $23.86 billion and adjusted earnings of $12.20 per share, surpassing Wall Street expectations. The company also announced that it expects fiscal 2026 capital expenditure to exceed $25 billion and is working towards addressing the gap between supply and demand. New facilities in the US., Taiwan, Japan, and Singapore are not expected to produce significant output until next year or later. However, Wedbush analyst Matt Bryson said that memory is a supply-driven business, not demand, as long lead times for fabs are too long for new supply.