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    Bit Market · Q2 2026

    Q2 2026 Roundup

    Memory, storage and chip companies in the April to June 2026 quarter, side by side, from their own releases.

    Revenue growth from a year earlier at one company in each group of the Q2 2026 roundupThree equal panels. Memory: Sandisk revenue up 372% from a year earlier. Controllers: Phison up 279.5%. Hard drives: Western Digital up 44%.BIT MARKET / ROUNDUPApril to June 2026, side by sideREVENUE AGAINST A YEAR EARLIER01 MEMORY372%SandiskREVENUE GROWTH02 CONTROLLERS279.5%PhisonREVENUE GROWTH03 HARD DRIVES44%Western DigitalREVENUE GROWTH

    Q2 2026 so far, against the same quarter a year earlier

    Quarters are calendar quarters. A company’s own fiscal quarter sits in the calendar quarter it ends in, counting a quarter that runs a few days over (a 52- or 53-week year) as ending in it, and its own label is under each figure. Won, yen, New Taiwan dollar and yuan figures are converted to US dollars at the Federal Reserve H.10 average for the quarter; the filed figure is under each. Samsung is its chip division (Device Solutions).

    • Samsung chip division revenue$85.0Bup 357.0% against a year earlier, in the filed currencyfiled ₩127.5Ta year earlier $19.9B (filed ₩27.9T)2Q 2026
    • SK hynix operating margin76%up 35.0 percentage points against a year earliera year earlier 41%2Q 2026
    • Micron revenue$41.456Bup 345.7% against a year earliera year earlier $9.301BFQ3 2026
    • Sandisk operating margin78.5%up 77.6 percentage points against a year earliera year earlier 0.9%FQ4 2026
    • Nvidia revenue$81.615Bup 85.2% against a year earliera year earlier $44.062BFQ1 FY2027
    • Seagate storage shipped218 EBup 34.2% against a year earliera year earlier 162.5 EBFQ4 2026

    Q2 2026 so far: 25 of 26 companies have reported. Still to report: YMTC.

    Memory and storage companies report on their own calendars, in their own currencies and with their own definitions of profit. This roundup sets the April to June 2026 quarter side by side. Figures are each company’s own, from its release or filing, except FADU’s, which come from its disclosure as the press reprinted it, and the exchange rates, which come from the Federal Reserve. Any margin or quarter a company does not report itself we computed from its tables. Quarters also end on different dates. Seagate, Sandisk and Western Digital closed theirs on July 3, three days past the calendar quarter. NVIDIA and Marvell close about a month into each calendar quarter, so their quarter here is the one that ended on April 26 (NVIDIA) or May 2 (Marvell) and ran mostly February to April. Memory and flash makers come first, then module and SSD brands, controller makers, hard drive makers and the chip designers and foundry beside them. Bit Market carries the other quarters, and The Memory Cycle covers the supply and demand behind these numbers.

    The quarter in one line

    Revenue grew from a year earlier at each of the five companies in the chart below, and at four of them it more than doubled. SK hynix’s revenue rose 257% and Western Digital’s rose 44%.

    The quarter in one line

    Revenue grew from a year earlier at all five companies shown

    Revenue growth against the same quarter a year earlier

    Horizontal bars, revenue growth from a year earlier in percent. Sandisk 372, Phison 279.5, SK hynix 257, Silicon Motion 127, Western Digital 44.Company0100200300400Revenue growth from a year earlier (%)Sandiskfiscal Q4 2026372%Phison2Q26279.5%SK hynix2Q26257%Silicon Motion2Q 2026127%Western Digitalfiscal Q4 202644%Memory and flashControllersHard drives
    Figure 1 · Five of the companies in this roundup, in each company’s own fiscal calendar. Source: company releases and filings for April to June 2026, linked in the section.

    Memory and flash makers

    SK hynix revenue rose 257% from a year earlier, to 79.3187 trillion won, and its operating margin was 76%, against 72% in 1Q26 and 41% in 2Q25. Its operating margin was 46.6% in the third quarter of 2025 and 58.4% in the fourth.

    Memory and flash makers

    Micron, Sandisk and SK hynix earned the widest operating margins

    Operating margin in the quarter, as each company reports it

    Horizontal bars, operating margin in percent. Micron 80.4, Sandisk 78.5, SK hynix 76, Kioxia 75 (non-GAAP, dashed), Nanya 73.7, Samsung 52.2, Macronix 46.9.Company0255075100Operating margin (%)MicronGAAP, FQ3 202680.4%SandiskGAAP, fiscal Q478.5%SK hynixK-IFRS76%Kioxianon-GAAP75%Nanyaconsolidated73.7%Samsungwhole company52.2%Macronixconsolidated46.9%As reportedNon-GAAP
    Figure 2 · Kioxia’s margin is non-GAAP and Samsung’s covers the whole company, chip division and all. Source: company releases and filings for April to June 2026, linked in the section.

    Kioxia’s revenue was about five times its year-ago figure: 1,767.1 billion yen in its fiscal first quarter, April to June 2026. In its presentation, non-GAAP operating profit comes to 1,326.2 billion yen, which is 75% of revenue.

    Sandisk’s revenue rose 372%, to $8,965 million in its fiscal fourth quarter, with a GAAP operating margin of 78.5%. That margin was 7.6% in fiscal Q1 and 35.2% in fiscal Q2.

    Micron’s quarter that covers most of these months is on the chart as FQ3 2026, when its GAAP operating margin was 80.4%. GAAP margin was 45.0% in fiscal Q1 and 67.6% in fiscal Q2, against 23.3% in fiscal Q3 2025.

    Samsung had a 52.2% operating margin for the whole company on revenue of 171.5 trillion won. Operating profit at the chip division, Device Solutions, was 89.2 trillion won on 127.5 trillion, a 70.0% margin. Samsung’s whole-company margin was 8.5% in 1Q25, 6.3% in 2Q25, 21.4% in 4Q25 and 42.7% in 1Q26.

    Nanya Technology had net sales of NT$82,549 million and an operating margin of 73.7%, against NT$10,526 million and an operating margin of (42.8)% a year earlier. Winbond reported consolidated revenue of NT$59.843 billion and a gross margin of 66.2%. Macronix had net sales of NT$19,125 million and an operating margin of 46.9%. CXMT filed first half revenue of 150,310.08 million yuan, against 15,437.92 million a year earlier.

    Module and SSD brands

    ADATA’s operating profit was NT$12,765 million on revenue of NT$38,143 million, a 33.5% margin, against NT$1,228 million on NT$12,824 million in 2025Q2. Transcend had total operating revenue of NT$18,815.419 million and net operating income of NT$14,127.135 million, a 75.1% margin. Longsys reported 24,088.363 million yuan of operating revenue for January to June 2026, against 9,908.726 million yuan in the first quarter. Biwin reported 15,574.943 million yuan for the half, against 6,814.252 million yuan in the first quarter.

    Module and SSD brands

    Transcend kept more of each sale as operating income than ADATA

    Operating margin in the quarter

    Horizontal bars, operating margin in percent. Transcend 75.1, ADATA 33.5.Company0255075100Operating margin (%)Transcend2026 Q275.1%ADATA2026Q233.5%Operating margin
    Figure 3 · Net operating income over total operating revenue, from each company’s consolidated statement. Source: company releases and filings for April to June 2026, linked in the section.

    Controllers

    Silicon Motion’s net sales rose 127% from a year earlier, to $451.0 million, and its GAAP operating margin was 22.4%, against 15.3% in 1Q26 and 11.2% a year earlier. It was 5.9% in 1Q25, 12.1% in 3Q25 and 11.4% in 4Q25. Phison’s operating revenue rose 279.5%, to NT$67.888 billion, with a 38.84% operating margin, against 36.23% in the first quarter of 2026 and 13.11% a year earlier. It was 8.4% in 1Q25 and 7.9% in 3Q25.

    Controllers

    Phison earned the widest operating margin of the controller makers

    Operating margin in the quarter

    Horizontal bars, operating margin in percent. Phison 38.84, Silicon Motion 22.4, FADU 22.3.Company010203040Operating margin (%)PhisonTIFRS38.84%Silicon MotionGAAP22.4%FADU2Q 202622.3%Operating margin
    Figure 4 · Phison reports under TIFRS and Silicon Motion under GAAP; FADU’s margin is computed from its disclosed profit and revenue. Source: company releases and filings for April to June 2026, linked in the section.

    Maxio Technology reported 854.11 million yuan of operating revenue for January to June 2026, up 40.08%, against 355.28 million yuan in the first quarter.

    FADU recorded second quarter revenue of 73.2 billion won and operating profit of 16.3 billion won, a 22.3% margin. Revenue was 19.2 billion won in 1Q25, 23.7 billion in 2Q25, 25.6 billion in 3Q25 and 23.9 billion in 4Q25, when it lost 25.8 billion won at the operating level. In 1Q26 its operating profit was 7.7 billion won on revenue of 59.5 billion.

    Hard drives

    Western Digital grew revenue 44% from a year earlier as a hard drive company only. GAAP operating margin reached 41.7% in fiscal Q4 2026, against 35.7% in the third quarter, 28.1% in fiscal Q1 and 30.1% in fiscal Q2.

    Hard drives

    Both drive makers’ margins climbed every fiscal quarter

    GAAP operating margin by fiscal quarter, fiscal Q1 to Q4 of 2026

    Horizontal bars, GAAP operating margin in percent. Seagate 26.4, 29.8, 32.1 and 43.0 in fiscal Q1 to Q4. Western Digital 28.1, 30.1, 35.7 and 41.7.Company and quarter01020304050GAAP operating margin (%)Seagatefiscal Q126.4%Western Digitalfiscal Q128.1%Seagatefiscal Q229.8%Western Digitalfiscal Q230.1%Seagatefiscal Q332.1%Western Digitalfiscal Q335.7%Western Digitalfiscal Q441.7%Seagatefiscal Q443.0%SeagateWestern Digital
    Figure 5 · Seagate’s and Western Digital’s fiscal Q4 both ended July 3, 2026. Source: company releases and filings for April to June 2026, linked in the section.

    Seagate’s GAAP operating margin reached 43.0%, against 26.4% in fiscal Q1, 29.8% in fiscal Q2 and 32.1% in fiscal Q3.

    Chip designers and the foundry

    NVIDIA had GAAP revenue of $81,615 million and operating income of $53,536 million in its quarter ended April 26, a 65.6% margin, against $44,062 million and $21,638 million a year earlier. AMD had revenue of $11,536 million and operating income of $1,990 million, against $7,685 million and an operating loss of $134 million. Intel had revenue of $16.1 billion and an operating margin of 11.1%, against $12.9 billion and an operating margin of (24.7)%.

    Chip designers and the foundry

    NVIDIA and TSMC kept the widest operating margins of the group

    Operating margin in the quarter

    Horizontal bars, operating margin in percent. NVIDIA 65.6, TSMC 60.3, Marvell 14.0, Intel 11.1, Arm 7.1.Company020406080Operating margin (%)NVIDIAGAAP, Q1 FY2765.6%TSMCTIFRS, 2Q2660.3%MarvellGAAP, FQ1 202714.0%IntelGAAP, Q2 202611.1%ArmGAAP, Q1 FYE277.1%Chip designersFoundry
    Figure 6 · Each company’s own fiscal quarter that ended between April 26 and June 30, 2026. Source: company releases and filings for April to June 2026, linked in the section.

    Marvell had net revenue of $2,417.8 million and GAAP operating income of $339.4 million in its quarter ended May 2, a 14.0% margin, against $1,895.3 million and $270.6 million a year earlier. Arm had total revenue of $1,289 million and operating income of $91 million, a 7.1% margin, against $1,053 million and 10.8%. TSMC had consolidated revenue of NT$1,270.38 billion and an operating margin of 60.3%.

    Converting currencies

    Federal Reserve H.10 quarterly averages for April to June 2026 were 1,500.48 won, 159.36 yen, 31.6030 New Taiwan dollars and 6.8048 yuan to the US dollar.

    Converting currencies

    One US dollar bought these amounts from April to June 2026

    Federal Reserve H.10 quarterly averages, per US dollar

    Four rows, each a box for one US dollar joined by an arrow to the amount it bought: 1,500.48 Korean won, 159.36 Japanese yen, 31.6030 New Taiwan dollars, 6.8048 Chinese yuan.One US dollar1,500.48 wonKOREAN WONOne US dollar159.36 yenJAPANESE YENOne US dollar31.6030 dollarsNEW TAIWAN DOLLARSOne US dollar6.8048 yuanCHINESE YUAN
    Figure 7 · The companies report in these currencies, so this page’s dollar comparisons use these averages. Source: Federal Reserve H.10 release via FRED.

    What it means for the drive you buy

    Sandisk is the one company here that reports its consumer sales as their own segment. Its Consumer segment fell 32% from the quarter before and 5% from a year earlier, while its Datacenter segment roughly doubled from the quarter before, from $1,467 million to $2,977 million, and its Edge segment grew from $3,663 million to $5,432 million. The growth came from the Datacenter and Edge segments, not from the Consumer segment. The Memory Cycle explains why the data center pulls so hard, and Best SSDs lists the current picks for each tier.

    What it means for the drive you buy

    Sandisk’s Datacenter revenue roughly doubled while Consumer fell

    Sandisk revenue by end market, fiscal Q3 and Q4 2026

    Horizontal bars, revenue in millions of dollars. Datacenter 1,467 then 2,977; Edge 3,663 then 5,432; Consumer 820 then 556, fiscal Q3 then Q4 2026.End market and quarter02,0004,0006,000Revenue (millions of dollars)DatacenterQ3 20261,467DatacenterQ4 20262,977EdgeQ3 20263,663EdgeQ4 20265,432ConsumerQ3 2026820ConsumerQ4 2026556Fiscal Q3 2026Fiscal Q4 2026
    Figure 8 · Consumer fell 32% from the quarter before; Datacenter and Edge grew. Source: Sandisk fiscal Q4 2026 release.

    Company-reported results, explained. Each company reports on its own fiscal calendar and in its own currency; the Period column says which quarter each row is. Not investment advice.

    01

    Company against company

    Every company’s quarter on the same bars, then the year that led up to it.

    Revenue is in US dollars so every company shares one axis: won, yen, New Taiwan dollar and yuan figures are converted at the Federal Reserve’s average rate for the quarter. Operating margin needs no conversion. Each bar is the company’s own quarter that falls in these months, named on the right.

    Q2 2026 revenue, every companyRevenue in US dollars for each company that reported Q2 2026, sorted largest first, with each company’s own reporting period named on the right.BIT MARKET / Q2 2026Q2 2026 revenue, every companyUS dollars, largest firstREVENUE IN US DOLLARSREPORTED PERIOD$0$25B$50B$75B$100BSamsung chips 2Q 2026 Device Solutions: ₩127.5T (K-IFRS, C-E-154), $85.0B at 1500.48 KRW per dollar (H.10, C-E-167)Samsung chips$85.0B2Q 2026Nvidia FQ1 FY2027: $81.615B (GAAP, C-E-269)Nvidia$81.6BFQ1 FY2027SK hynix 2Q 2026: ₩79.3187T (K-IFRS, C-E-041), $52.9B at 1500.48 KRW per dollar (H.10, C-E-167)SK hynix$52.9B2Q 2026Micron FQ3 2026: $41.456B (GAAP, C-E-885)Micron$41.5BFQ3 2026TSMC 2Q 2026: NT$1,270.38B (TIFRS, C-E-285), $40.2B at 31.603 TWD per dollar (H.10, C-E-179)TSMC$40.2B2Q 2026Intel 2Q 2026: $16.1B (GAAP, C-E-276)Intel$16.1B2Q 2026CXMT 2Q 2026: CN¥99.50993B (CAS, C-E-437), $14.6B at 6.8048 CNY per dollar (H.10, C-E-185)CXMT$14.6B2Q 2026AMD 2Q 2026: $11.536B (GAAP, C-E-272)AMD$11.5B2Q 2026Kioxia FY2026 Q1: ¥1,767.1B (IFRS, C-E-043), $11.1B at 159.36 JPY per dollar (H.10, C-E-173)Kioxia$11.1BFY2026 Q1Sandisk FQ4 2026: $8.965B (GAAP, C-E-045)Sandisk$9.0BFQ4 2026WD FQ4 2026: $3.747B (GAAP, C-E-049)WD$3.7BFQ4 2026Seagate FQ4 2026: $3.629B (GAAP, C-E-053)Seagate$3.6BFQ4 2026Nanya 2Q 2026: NT$82.549B (TIFRS, C-E-248), $2.6B at 31.603 TWD per dollar (H.10, C-E-179)Nanya$2.6B2Q 2026Marvell FQ1 FY2027: $2.4178B (GAAP, C-E-196)Marvell$2.4BFQ1 FY2027Phison 2Q 2026: NT$67.888B (TIFRS, C-E-027), $2.1B at 31.603 TWD per dollar (H.10, C-E-179)Phison$2.1B2Q 2026Longsys 2Q 2026: CN¥14.179637B (CAS, half year less 1Q, C-E-303), $2.1B at 6.8048 CNY per dollar (H.10, C-E-185)Longsys$2.1B2Q 2026Winbond 2Q 2026: NT$59.843B (TIFRS, C-E-260), $1.9B at 31.603 TWD per dollar (H.10, C-E-179)Winbond$1.9B2Q 2026Arm FQ1 FY2027: $1.289B (GAAP, C-E-286)Arm$1.3BFQ1 FY2027Biwin 2Q 2026: CN¥8.760691B (CAS, half year less 1Q, C-E-306), $1.3B at 6.8048 CNY per dollar (H.10, C-E-185)Biwin$1.3B2Q 2026ADATA 2Q 2026: NT$38.143B (TIFRS, C-E-290), $1.2B at 31.603 TWD per dollar (H.10, C-E-179)ADATA$1.2B2Q 2026Macronix 2Q 2026: NT$19.125B (TIFRS, C-E-254), $605M at 31.603 TWD per dollar (H.10, C-E-179)Macronix$605M2Q 2026Transcend 2Q 2026: NT$18.815419B (TIFRS, C-E-299), $595M at 31.603 TWD per dollar (H.10, C-E-179)Transcend$595M2Q 2026Silicon Motion 2Q 2026: $451.0M (GAAP, C-E-051)Silicon Motion$451M2Q 2026Maxio 2Q 2026: CN¥498.83M (CAS, C-E-189), $73M at 6.8048 CNY per dollar (H.10, C-E-185)Maxio$73M2Q 2026FADU 2Q 2026: ₩73.2B (K-IFRS preliminary, C-E-335), $49M at 1500.48 KRW per dollar (H.10, C-E-167)FADU$49M2Q 2026
    Each company’s own quarter that falls in these months; won, yen and NT dollar revenue converted at the Federal Reserve H.10 average for the quarter; a dashed bar is preliminary. Source: Company releases; Federal Reserve H.10 via FRED.
    Q2 2026 operating margin, every companyOperating margin for each company that reported Q2 2026, sorted largest first, with each company’s own reporting period named on the right.BIT MARKET / Q2 2026Q2 2026 operating margin, every companyPercent of revenue, largest firstOPERATING MARGINREPORTED PERIOD0%25%50%75%100%Micron FQ3 2026: 80.4% (GAAP, C-E-889)Micron80.4%FQ3 2026Sandisk FQ4 2026: 78.5% (GAAP, C-E-048)Sandisk78.5%FQ4 2026SK hynix 2Q 2026: 76% (K-IFRS, C-E-006)SK hynix76%2Q 2026Transcend 2Q 2026: 75.1% (TIFRS, C-E-300)Transcend75.1%2Q 2026Kioxia FY2026 Q1: 75% (non-GAAP, C-E-043)Kioxia75%FY2026 Q1Nanya 2Q 2026: 73.7% (TIFRS, C-E-248)Nanya73.7%2Q 2026Samsung chips 2Q 2026: 70.0% (K-IFRS, C-E-155)Samsung chips70.0%2Q 2026Nvidia FQ1 FY2027: 65.6% (GAAP, C-E-995)Nvidia65.6%FQ1 FY2027TSMC 2Q 2026: 60.3% (TIFRS, C-E-285)TSMC60.3%2Q 2026Macronix 2Q 2026: 46.9% (TIFRS, C-E-254)Macronix46.9%2Q 2026Seagate FQ4 2026: 43.0% (GAAP, C-E-055)Seagate43.0%FQ4 2026WD FQ4 2026: 41.7% (GAAP, C-E-049)WD41.7%FQ4 2026Phison 2Q 2026: 38.84% (TIFRS, C-E-056)Phison38.84%2Q 2026ADATA 2Q 2026: 33.5% (TIFRS, C-E-293)ADATA33.5%2Q 2026Silicon Motion 2Q 2026: 22.4% (GAAP, C-E-052)Silicon Motion22.4%2Q 2026FADU 2Q 2026: 22.3% (K-IFRS preliminary, C-E-336)FADU22.3%2Q 2026AMD 2Q 2026: 17.3% (GAAP, C-E-275)AMD17.3%2Q 2026Marvell FQ1 FY2027: 14.0% (GAAP, C-E-196)Marvell14.0%FQ1 FY2027Intel 2Q 2026: 11.1% (GAAP, C-E-276)Intel11.1%2Q 2026Arm FQ1 FY2027: 7.1% (GAAP, C-E-286)Arm7.1%FQ1 FY2027
    Each company’s own quarter that falls in these months; a loss draws left of zero; a dashed bar is preliminary. Source: Company releases.
    Memory makers: revenue, year to this issueRevenue in US dollars for memory makers over the five quarters up to Q2 2026.BIT MARKET / MEMORY MAKERSMemory makers: revenue, year to this issueUS dollars; the rule marks this issue’s quarterthis issueMEMORY MAKERS$0$50B$100BMicron FQ3 2025: $9.301B (GAAP, C-E-464)Micron FQ4 2025: $11.315B (GAAP, C-E-886)Micron FQ1 2026: $13.643B (GAAP, C-E-469)Micron FQ2 2026: $23.86B (GAAP, C-E-474)Micron FQ3 2026: $41.456B (GAAP, C-E-885)Samsung chips 2Q 2025 Device Solutions: ₩27.9T (K-IFRS, C-E-146), $19.9B at 1399.82 KRW per dollar (H.10, C-E-163)Samsung chips 3Q 2025 Device Solutions: ₩33.1T (K-IFRS, C-E-148), $23.9B at 1386.95 KRW per dollar (H.10, C-E-164)Samsung chips 4Q 2025 Device Solutions: ₩44.0T (K-IFRS, C-E-150), $30.4B at 1448.76 KRW per dollar (H.10, C-E-165)Samsung chips 1Q 2026 Device Solutions: ₩81.7T (K-IFRS, C-E-152), $55.7B at 1465.57 KRW per dollar (H.10, C-E-166)Samsung chips 2Q 2026 Device Solutions: ₩127.5T (K-IFRS, C-E-154), $85.0B at 1500.48 KRW per dollar (H.10, C-E-167)SK hynix 2Q 2025: ₩22.232T (K-IFRS, C-E-898), $15.9B at 1399.82 KRW per dollar (H.10, C-E-163)SK hynix 3Q 2025: ₩24.4489T (K-IFRS, C-E-119), $17.6B at 1386.95 KRW per dollar (H.10, C-E-164)SK hynix 4Q 2025: ₩32.8267T (K-IFRS, C-E-121), $22.7B at 1448.76 KRW per dollar (H.10, C-E-165)SK hynix 1Q 2026: ₩52.5763T (K-IFRS, C-E-897), $35.9B at 1465.57 KRW per dollar (H.10, C-E-166)SK hynix 2Q 2026: ₩79.3187T (K-IFRS, C-E-041), $52.9B at 1500.48 KRW per dollar (H.10, C-E-167)CXMT 2Q 2025: CN¥9.23623B (CAS, C-E-437), $1.3B at 7.2331 CNY per dollar (H.10, C-E-181)CXMT 1Q 2026: CN¥50.80015B (CAS, C-E-438), $7.3B at 6.9218 CNY per dollar (H.10, C-E-184)CXMT 2Q 2026: CN¥99.50993B (CAS, C-E-437), $14.6B at 6.8048 CNY per dollar (H.10, C-E-185)● Samsung chips $85.0B● SK hynix $52.9B● Micron $41.5B● CXMT $14.6BQ2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue, each company’s own periods at their real end dates. Source: Company releases; Federal Reserve H.10 via FRED.
    Specialty memory makers: revenue, year to this issueRevenue in US dollars for specialty memory makers over the five quarters up to Q2 2026.BIT MARKET / SPECIALTY MEMORY MAKERSSpecialty memory makers: revenue, year to thisissueUS dollars; the rule marks this issue’s quarterthis issueSPECIALTY MEMORY MAKERS$0$1B$2B$3BNanya 2Q 2025: NT$10.526B (TIFRS, C-E-979), $341M at 30.8775 TWD per dollar (H.10, C-E-175)Nanya 3Q 2025: NT$18.779B (TIFRS, C-E-982), $627M at 29.9447 TWD per dollar (H.10, C-E-176)Nanya 4Q 2025: NT$30.094B (TIFRS, C-E-246), $970M at 31.0232 TWD per dollar (H.10, C-E-177)Nanya 1Q 2026: NT$49.087B (TIFRS, C-E-247), $1.6B at 31.6302 TWD per dollar (H.10, C-E-178)Nanya 2Q 2026: NT$82.549B (TIFRS, C-E-248), $2.6B at 31.603 TWD per dollar (H.10, C-E-179)Winbond 2Q 2025: NT$21.018B (TIFRS, C-E-256), $681M at 30.8775 TWD per dollar (H.10, C-E-175)Winbond 3Q 2025: NT$21.771B (TIFRS, C-E-257), $727M at 29.9447 TWD per dollar (H.10, C-E-176)Winbond 4Q 2025: NT$26.624B (computed from the full year, C-E-258), $858M at 31.0232 TWD per dollar (H.10, C-E-177)Winbond 1Q 2026: NT$38.253B (TIFRS, C-E-259), $1.2B at 31.6302 TWD per dollar (H.10, C-E-178)Winbond 2Q 2026: NT$59.843B (TIFRS, C-E-260), $1.9B at 31.603 TWD per dollar (H.10, C-E-179)Macronix 2Q 2025: NT$6.799B (TIFRS, C-E-250), $220M at 30.8775 TWD per dollar (H.10, C-E-175)Macronix 3Q 2025: NT$8.214B (TIFRS, C-E-251), $274M at 29.9447 TWD per dollar (H.10, C-E-176)Macronix 4Q 2025: NT$7.729B (TIFRS, C-E-252), $249M at 31.0232 TWD per dollar (H.10, C-E-177)Macronix 1Q 2026: NT$10.469B (TIFRS, C-E-253), $331M at 31.6302 TWD per dollar (H.10, C-E-178)Macronix 2Q 2026: NT$19.125B (TIFRS, C-E-254), $605M at 31.603 TWD per dollar (H.10, C-E-179)● Nanya $2.6B● Winbond $1.9B● Macronix $605MQ2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue, each company’s own periods at their real end dates. Source: Company releases; Federal Reserve H.10 via FRED.
    Flash makers: revenue, year to this issueRevenue in US dollars for flash makers over the five quarters up to Q2 2026.BIT MARKET / FLASH MAKERSFlash makers: revenue, year to this issueUS dollars; the rule marks this issue’s quarterthis issueFLASH MAKERS$0$5B$10B$15BKioxia FY2025 Q1: ¥342.8B (IFRS, C-E-1084), $2.4B at 144.49 JPY per dollar (H.10, C-E-169)Kioxia FY2025 Q2: ¥448.3B (IFRS, C-E-1083), $3.0B at 147.51 JPY per dollar (H.10, C-E-170)Kioxia FY2025 Q3: ¥543.6B (IFRS, C-E-905), $3.5B at 154.07 JPY per dollar (H.10, C-E-171)Kioxia FY2025 Q4: ¥1,002.9B (IFRS, C-E-904), $6.4B at 156.9 JPY per dollar (H.10, C-E-172)Kioxia FY2026 Q1: ¥1,767.1B (IFRS, C-E-043), $11.1B at 159.36 JPY per dollar (H.10, C-E-173)Sandisk FQ4 2025: $1.901B (GAAP, C-E-1088)Sandisk FQ1 2026: $2.308B (GAAP, C-E-095)Sandisk FQ2 2026: $3.025B (GAAP, C-E-097)Sandisk FQ3 2026: $5.95B (GAAP, C-E-916)Sandisk FQ4 2026: $8.965B (GAAP, C-E-045)YMTC 1Q 2026: CN¥47.04231B (CAS, C-E-440), $6.8B at 6.9218 CNY per dollar (H.10, C-E-184)● Kioxia $11.1B● Sandisk $9.0B● YMTC $6.8BQ2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue, each company’s own periods at their real end dates. Source: Company releases; Federal Reserve H.10 via FRED.
    SSD and module brands: revenue, year to this issueRevenue in US dollars for ssd and module brands over the five quarters up to Q2 2026.BIT MARKET / SSD AND MODULE BRANDSSSD and module brands: revenue, year to thisissueUS dollars; the rule marks this issue’s quarterthis issueSSD AND MODULE BRANDS$0$1B$2B$3BADATA 2Q 2025: NT$12.824B (TIFRS, C-E-1020), $415M at 30.8775 TWD per dollar (H.10, C-E-175)ADATA 3Q 2025: NT$14.511B (TIFRS, C-E-1023), $485M at 29.9447 TWD per dollar (H.10, C-E-176)ADATA 4Q 2025: NT$15.845B (TIFRS, C-E-292), $511M at 31.0232 TWD per dollar (H.10, C-E-177)ADATA 1Q 2026: NT$26.1B (TIFRS, C-E-291), $825M at 31.6302 TWD per dollar (H.10, C-E-178)ADATA 2Q 2026: NT$38.143B (TIFRS, C-E-290), $1.2B at 31.603 TWD per dollar (H.10, C-E-179)Transcend 2Q 2025: NT$3.230432B (TIFRS, C-E-295), $105M at 30.8775 TWD per dollar (H.10, C-E-175)Transcend 3Q 2025: NT$4.108501B (TIFRS, C-E-296), $137M at 29.9447 TWD per dollar (H.10, C-E-176)Transcend 4Q 2025: NT$6.803668B (TIFRS, computed from the full year, C-E-297), $219M at 31.0232 TWD per dollar (H.10, C-E-177)Transcend 1Q 2026: NT$13.628469B (TIFRS, C-E-298), $431M at 31.6302 TWD per dollar (H.10, C-E-178)Transcend 2Q 2026: NT$18.815419B (TIFRS, C-E-299), $595M at 31.603 TWD per dollar (H.10, C-E-179)Longsys 2Q 2025: CN¥5.939199B (CAS, C-E-1068), $821M at 7.2331 CNY per dollar (H.10, C-E-181)Longsys 3Q 2025: CN¥6.538677B (CAS, C-E-1033), $914M at 7.157 CNY per dollar (H.10, C-E-182)Longsys 4Q 2025: CN¥6.031838B (CAS, C-E-301), $851M at 7.0889 CNY per dollar (H.10, C-E-183)Longsys 1Q 2026: CN¥9.908726B (CAS, C-E-302), $1.4B at 6.9218 CNY per dollar (H.10, C-E-184)Longsys 2Q 2026: CN¥14.179637B (CAS, half year less 1Q, C-E-303), $2.1B at 6.8048 CNY per dollar (H.10, C-E-185)Biwin 2Q 2025: CN¥2.369003B (CAS, C-E-1069), $328M at 7.2331 CNY per dollar (H.10, C-E-181)Biwin 3Q 2025: CN¥2.662747B (CAS, C-E-1035), $372M at 7.157 CNY per dollar (H.10, C-E-182)Biwin 4Q 2025: CN¥4.727396B (CAS, C-E-304), $667M at 7.0889 CNY per dollar (H.10, C-E-183)Biwin 1Q 2026: CN¥6.814252B (CAS, C-E-305), $984M at 6.9218 CNY per dollar (H.10, C-E-184)Biwin 2Q 2026: CN¥8.760691B (CAS, half year less 1Q, C-E-306), $1.3B at 6.8048 CNY per dollar (H.10, C-E-185)● Longsys $2.1B● Biwin $1.3B● ADATA $1.2B● Transcend $595MQ2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue, each company’s own periods at their real end dates. Source: Company releases; Federal Reserve H.10 via FRED.
    Controller makers: revenue, year to this issueRevenue in US dollars for controller makers over the five quarters up to Q2 2026.BIT MARKET / CONTROLLER MAKERSController makers: revenue, year to this issueUS dollars; the rule marks this issue’s quarterthis issueCONTROLLER MAKERS$0$1B$2B$3BSilicon Motion 2Q 2025: $198.7M (GAAP, C-E-945)Silicon Motion 3Q 2025: $242.0M (GAAP, C-E-113)Silicon Motion 4Q 2025: $278.5M (GAAP, C-E-115)Silicon Motion 1Q 2026: $342.1M (GAAP, C-E-944)Silicon Motion 2Q 2026: $451.0M (GAAP, C-E-051)Phison 2Q 2025: NT$17.89B (TIFRS, C-E-158), $579M at 30.8775 TWD per dollar (H.10, C-E-175)Phison 3Q 2025: NT$18.137B (TIFRS, C-E-135), $606M at 29.9447 TWD per dollar (H.10, C-E-176)Phison 4Q 2025: NT$22.799B (TIFRS, C-E-159), $735M at 31.0232 TWD per dollar (H.10, C-E-177)Phison 1Q 2026: NT$40.967B (TIFRS, C-E-161), $1.3B at 31.6302 TWD per dollar (H.10, C-E-178)Phison 2Q 2026: NT$67.888B (TIFRS, C-E-027), $2.1B at 31.603 TWD per dollar (H.10, C-E-179)Maxio 2Q 2025: CN¥368.66M (CAS, C-E-1067), $51M at 7.2331 CNY per dollar (H.10, C-E-181)Maxio 3Q 2025: CN¥311.15M (CAS, C-E-956), $43M at 7.157 CNY per dollar (H.10, C-E-182)Maxio 4Q 2025: CN¥406.26M (CAS, C-E-186), $57M at 7.0889 CNY per dollar (H.10, C-E-183)Maxio 1Q 2026: CN¥355.28M (CAS, C-E-187), $51M at 6.9218 CNY per dollar (H.10, C-E-184)Maxio 2Q 2026: CN¥498.83M (CAS, C-E-189), $73M at 6.8048 CNY per dollar (H.10, C-E-185)FADU 2Q 2025: ₩23.7B (K-IFRS, C-E-329), $17M at 1399.82 KRW per dollar (H.10, C-E-163)FADU 3Q 2025: ₩25.6B (K-IFRS, C-E-331), $18M at 1386.95 KRW per dollar (H.10, C-E-164)FADU 4Q 2025: ₩23.9B (K-IFRS, C-E-333), $16M at 1448.76 KRW per dollar (H.10, C-E-165)FADU 1Q 2026: ₩59.5B (K-IFRS preliminary, C-E-334), $41M at 1465.57 KRW per dollar (H.10, C-E-166)FADU 2Q 2026: ₩73.2B (K-IFRS preliminary, C-E-335), $49M at 1500.48 KRW per dollar (H.10, C-E-167)● Phison $2.1B● Silicon Motion $451M● Maxio $73M● FADU $49MQ2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue, each company’s own periods at their real end dates. Source: Company releases; Federal Reserve H.10 via FRED.
    Chip designers (fabless) and IP: revenue, year to this issueRevenue in US dollars for chip designers (fabless) and ip over the five quarters up to Q2 2026.BIT MARKET / CHIP DESIGNERS (FABLESS) AND IPChip designers (fabless) and IP: revenue, year tothis issueUS dollars; the rule marks this issue’s quarterthis issueCHIP DESIGNERS (FABLESS) AND IP$0$50B$100BMarvell FQ1 FY2026: $1.8953B (GAAP, C-E-960)Marvell FQ2 FY2026: $2.0061B (GAAP, C-E-963)Marvell FQ3 FY2026: $2.0745B (GAAP, C-E-193)Marvell FQ4 FY2026: $2.2187B (GAAP, C-E-194)Marvell FQ1 FY2027: $2.4178B (GAAP, C-E-196)Nvidia FQ1 FY2026: $44.062B (GAAP, C-E-985)Nvidia FQ2 FY2026: $46.743B (GAAP, C-E-988)Nvidia FQ3 FY2026: $57.006B (GAAP, C-E-991)Nvidia FQ4 FY2026: $68.127B (GAAP, C-E-270)Nvidia FQ1 FY2027: $81.615B (GAAP, C-E-269)AMD 2Q 2025: $7.685B (GAAP, C-E-999)AMD 3Q 2025: $9.246B (GAAP, C-E-1002)AMD 4Q 2025: $10.27B (GAAP, C-E-274)AMD 1Q 2026: $10.253B (GAAP, C-E-273)AMD 2Q 2026: $11.536B (GAAP, C-E-272)Arm FQ1 FY2026: $1.053B (GAAP, C-E-1014)Arm FQ2 FY2026: $1.135B (GAAP, C-E-289)Arm FQ3 FY2026: $1.242B (GAAP, C-E-288)Arm FQ4 FY2026: $1.49B (GAAP, C-E-287)Arm FQ1 FY2027: $1.289B (GAAP, C-E-286)● Nvidia $81.6B● AMD $11.5B● Marvell $2.4B● Arm $1.3BQ2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue, each company’s own periods at their real end dates. Source: Company releases; Federal Reserve H.10 via FRED.
    Chip producers (foundry and IDM): revenue, year to this issueRevenue in US dollars for chip producers (foundry and idm) over the five quarters up to Q2 2026.BIT MARKET / CHIP PRODUCERS (FOUNDRY AND IDM)Chip producers (foundry and IDM): revenue, yearto this issueUS dollars; the rule marks this issue’s quarterthis issueCHIP PRODUCERS (FOUNDRY AND IDM)$0$20B$40B$60BTSMC 2Q 2025: NT$933.79B (TIFRS, C-E-281), $30.2B at 30.8775 TWD per dollar (H.10, C-E-175)TSMC 3Q 2025: NT$989.92B (TIFRS, C-E-282), $33.1B at 29.9447 TWD per dollar (H.10, C-E-176)TSMC 4Q 2025: NT$1,046.09B (TIFRS, C-E-283), $33.7B at 31.0232 TWD per dollar (H.10, C-E-177)TSMC 1Q 2026: NT$1,134.10B (TIFRS, C-E-284), $35.9B at 31.6302 TWD per dollar (H.10, C-E-178)TSMC 2Q 2026: NT$1,270.38B (TIFRS, C-E-285), $40.2B at 31.603 TWD per dollar (H.10, C-E-179)Intel 2Q 2025: $12.9B (GAAP, C-E-1009)Intel 3Q 2025: $13.7B (GAAP, C-E-279)Intel 4Q 2025: $13.7B (GAAP, C-E-278)Intel 1Q 2026: $13.6B (GAAP, C-E-277)Intel 2Q 2026: $16.1B (GAAP, C-E-276)● TSMC $40.2B● Intel $16.1BQ2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue, each company’s own periods at their real end dates. Source: Company releases; Federal Reserve H.10 via FRED.
    Hard drive makers: revenue, year to this issueRevenue in US dollars for hard drive makers over the five quarters up to Q2 2026.BIT MARKET / HARD DRIVE MAKERSHard drive makers: revenue, year to this issueUS dollars; the rule marks this issue’s quarterthis issueHARD DRIVE MAKERS$0$2B$4BWD FQ4 2025: $2.605B (GAAP, C-E-933)WD FQ1 2026: $2.818B (GAAP, C-E-107)WD FQ2 2026: $3.017B (GAAP, C-E-109)WD FQ3 2026: $3.337B (GAAP, C-E-932)WD FQ4 2026: $3.747B (GAAP, C-E-049)Seagate FQ4 2025: $2.444B (GAAP, C-E-939)Seagate FQ1 2026: $2.629B (GAAP, C-E-101)Seagate FQ2 2026: $2.825B (GAAP, C-E-103)Seagate FQ3 2026: $3.112B (GAAP, C-E-054)Seagate FQ4 2026: $3.629B (GAAP, C-E-053)● WD $3.7B● Seagate $3.6BQ2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue, each company’s own periods at their real end dates. Source: Company releases; Federal Reserve H.10 via FRED.
    Memory makers: margin, year to this issueOperating margin for memory makers over the five quarters up to Q2 2026.BIT MARKET / MEMORY MAKERSMemory makers: margin, year to this issuePercent of revenue; the rule marks this issue’s quarterthis issueMEMORY MAKERS0%50%100%Micron FQ3 2025: 23.3% (GAAP, C-E-467)Micron FQ4 2025: 32.3% (GAAP, C-E-890)Micron FQ1 2026: 45.0% (GAAP, C-E-472)Micron FQ2 2026: 67.6% (GAAP, C-E-477)Micron FQ3 2026: 80.4% (GAAP, C-E-889)Samsung chips 2Q 2025: 1.4% (K-IFRS, C-E-147)Samsung chips 3Q 2025: 21.1% (K-IFRS, C-E-149)Samsung chips 4Q 2025: 37.3% (K-IFRS, C-E-151)Samsung chips 1Q 2026: 65.7% (K-IFRS, C-E-153)Samsung chips 2Q 2026: 70.0% (K-IFRS, C-E-155)SK hynix 2Q 2025: 41% (K-IFRS, C-E-1060)SK hynix 3Q 2025: 46.6% (K-IFRS, C-E-120)SK hynix 4Q 2025: 58.4% (K-IFRS, C-E-122)SK hynix 1Q 2026: 72% (K-IFRS, C-E-1041)SK hynix 2Q 2026: 76% (K-IFRS, C-E-006)● Micron 80.4%● SK hynix 76%● Samsung chips 70.0%Q2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue; an arrow marks a quarter below the scale, with its value. Source: Company releases.
    Specialty memory makers: margin, year to this issueOperating margin for specialty memory makers over the five quarters up to Q2 2026.BIT MARKET / SPECIALTY MEMORY MAKERSSpecialty memory makers: margin, year to thisissuePercent of revenue; the rule marks this issue’s quarterthis issueSPECIALTY MEMORY MAKERS-50%0%50%100%Nanya 2Q 2025: −42.8% (TIFRS, C-E-1052)Nanya 3Q 2025: 6.0% (TIFRS, C-E-984)Nanya 4Q 2025: 39.1% (TIFRS, C-E-246)Nanya 1Q 2026: 61.3% (TIFRS, C-E-247)Nanya 2Q 2026: 73.7% (TIFRS, C-E-248)Macronix 2Q 2025: −15.9% (TIFRS, C-E-250)Macronix 3Q 2025: −13.9% (TIFRS, C-E-251)Macronix 4Q 2025: −5.1% (TIFRS, C-E-252)Macronix 1Q 2026: 18.5% (TIFRS, C-E-253)Macronix 2Q 2026: 46.9% (TIFRS, C-E-254)● Nanya 73.7%● Macronix 46.9%Q2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue; an arrow marks a quarter below the scale, with its value. Source: Company releases.
    Flash makers: margin, year to this issueOperating margin for flash makers over the five quarters up to Q2 2026.BIT MARKET / FLASH MAKERSFlash makers: margin, year to this issuePercent of revenue; the rule marks this issue’s quarterthis issueFLASH MAKERS0%50%100%Kioxia FY2025 Q1: 13% (non-GAAP, C-E-1045)Kioxia FY2025 Q2: 19% (non-GAAP, C-E-1044)Kioxia FY2025 Q3: 27% (non-GAAP, C-E-1043)Kioxia FY2025 Q4: 60% (non-GAAP, C-E-1042)Kioxia FY2026 Q1: 75% (non-GAAP, C-E-043)Sandisk FQ4 2025: 0.9% (GAAP, C-E-1047)Sandisk FQ1 2026: 7.6% (GAAP, C-E-096)Sandisk FQ2 2026: 35.2% (GAAP, C-E-098)Sandisk FQ3 2026: 69.1% (GAAP, C-E-1046)Sandisk FQ4 2026: 78.5% (GAAP, C-E-048)● Sandisk 78.5%● Kioxia 75%Q2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue; an arrow marks a quarter below the scale, with its value. Source: Company releases.
    SSD and module brands: margin, year to this issueOperating margin for ssd and module brands over the five quarters up to Q2 2026.BIT MARKET / SSD AND MODULE BRANDSSSD and module brands: margin, year to this issuePercent of revenue; the rule marks this issue’s quarterthis issueSSD AND MODULE BRANDS0%50%100%ADATA 2Q 2025: 9.6% (TIFRS, C-E-1022)ADATA 3Q 2025: 13.2% (TIFRS, C-E-1025)ADATA 4Q 2025: 35.4% (TIFRS, C-E-1059)ADATA 1Q 2026: 47.0% (TIFRS, C-E-1027)ADATA 2Q 2026: 33.5% (TIFRS, C-E-293)Transcend 2Q 2025: 24.1% (TIFRS, C-E-1029)Transcend 3Q 2025: 36.8% (TIFRS, C-E-1030)Transcend 4Q 2025: 55.6% (TIFRS, computed from the full year, C-E-1074)Transcend 1Q 2026: 71.8% (TIFRS, C-E-1031)Transcend 2Q 2026: 75.1% (TIFRS, C-E-300)● Transcend 75.1%● ADATA 33.5%Q2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue; an arrow marks a quarter below the scale, with its value. Source: Company releases.
    Controller makers: margin, year to this issueOperating margin for controller makers over the five quarters up to Q2 2026.BIT MARKET / CONTROLLER MAKERSController makers: margin, year to this issuePercent of revenue; the rule marks this issue’s quarterthis issueCONTROLLER MAKERS-50%0%50%Silicon Motion 2Q 2025: 11.2% (GAAP, C-E-949)Silicon Motion 3Q 2025: 12.1% (GAAP, C-E-114)Silicon Motion 4Q 2025: 11.4% (GAAP, C-E-116)Silicon Motion 1Q 2026: 15.3% (GAAP, C-E-948)Silicon Motion 2Q 2026: 22.4% (GAAP, C-E-052)Phison 2Q 2025: 13.11% (TIFRS, C-E-953)Phison 3Q 2025: 7.9% (TIFRS, C-E-136)Phison 4Q 2025: 14.6% (TIFRS, C-E-160)Phison 1Q 2026: 36.23% (TIFRS, C-E-952)Phison 2Q 2026: 38.84% (TIFRS, C-E-056)FADU 2Q 2025: −53.2% (K-IFRS, C-E-1070)−53.2%FADU 3Q 2025: −44.6% (K-IFRS, C-E-1071)FADU 4Q 2025: −107.8% (K-IFRS, C-E-1072)−107.8%FADU 1Q 2026: 12.9% (K-IFRS preliminary, C-E-959)FADU 2Q 2026: 22.3% (K-IFRS preliminary, C-E-336)● Phison 38.84%● Silicon Motion 22.4%● FADU 22.3%Q2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue; an arrow marks a quarter below the scale, with its value. Source: Company releases.
    Chip designers (fabless) and IP: margin, year to this issueOperating margin for chip designers (fabless) and ip over the five quarters up to Q2 2026.BIT MARKET / CHIP DESIGNERS (FABLESS) AND IPChip designers (fabless) and IP: margin, year tothis issuePercent of revenue; the rule marks this issue’s quarterthis issueCHIP DESIGNERS (FABLESS) AND IP-25%0%25%50%75%Marvell FQ1 FY2026: 14.3% (GAAP, C-E-962)Marvell FQ2 FY2026: 14.5% (GAAP, C-E-965)Marvell FQ3 FY2026: 17.2% (GAAP, C-E-193)Marvell FQ4 FY2026: 18.2% (GAAP, C-E-194)Marvell FQ1 FY2027: 14.0% (GAAP, C-E-196)Nvidia FQ1 FY2026: 49.1% (GAAP, C-E-987)Nvidia FQ2 FY2026: 60.8% (GAAP, C-E-990)Nvidia FQ3 FY2026: 63.2% (GAAP, C-E-1053)Nvidia FQ4 FY2026: 65.0% (GAAP, C-E-994)Nvidia FQ1 FY2027: 65.6% (GAAP, C-E-995)AMD 2Q 2025: −1.7% (GAAP, C-E-1054)AMD 3Q 2025: 13.7% (GAAP, C-E-1004)AMD 4Q 2025: 17.1% (GAAP, C-E-1005)AMD 1Q 2026: 14.4% (GAAP, C-E-1055)AMD 2Q 2026: 17.3% (GAAP, C-E-275)Arm FQ1 FY2026: 10.8% (GAAP, C-E-1016)Arm FQ2 FY2026: 14.4% (GAAP, C-E-289)Arm FQ3 FY2026: 14.9% (GAAP, C-E-288)Arm FQ4 FY2026: 29.4% (GAAP, C-E-287)Arm FQ1 FY2027: 7.1% (GAAP, C-E-286)● Nvidia 65.6%● AMD 17.3%● Marvell 14.0%● Arm 7.1%Q2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue; an arrow marks a quarter below the scale, with its value. Source: Company releases.
    Chip producers (foundry and IDM): margin, year to this issueOperating margin for chip producers (foundry and idm) over the five quarters up to Q2 2026.BIT MARKET / CHIP PRODUCERS (FOUNDRY AND IDM)Chip producers (foundry and IDM): margin, year tothis issuePercent of revenue; the rule marks this issue’s quarterthis issueCHIP PRODUCERS (FOUNDRY AND IDM)-50%0%50%100%TSMC 2Q 2025: 49.6% (TIFRS, C-E-281)TSMC 3Q 2025: 50.6% (TIFRS, C-E-282)TSMC 4Q 2025: 54.0% (TIFRS, C-E-283)TSMC 1Q 2026: 58.1% (TIFRS, C-E-284)TSMC 2Q 2026: 60.3% (TIFRS, C-E-285)Intel 2Q 2025: −24.7% (GAAP, C-E-1057)Intel 3Q 2025: 5.0% (GAAP, C-E-279)Intel 4Q 2025: 4.2% (GAAP, C-E-278)Intel 1Q 2026: −23.1% (GAAP, C-E-277)Intel 2Q 2026: 11.1% (GAAP, C-E-276)● TSMC 60.3%● Intel 11.1%Q2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue; an arrow marks a quarter below the scale, with its value. Source: Company releases.
    Hard drive makers: margin, year to this issueOperating margin for hard drive makers over the five quarters up to Q2 2026.BIT MARKET / HARD DRIVE MAKERSHard drive makers: margin, year to this issuePercent of revenue; the rule marks this issue’s quarterthis issueHARD DRIVE MAKERS0%20%40%60%WD FQ4 2025: 26.1% (GAAP, C-E-937)WD FQ1 2026: 28.1% (GAAP, C-E-108)WD FQ2 2026: 30.1% (GAAP, C-E-110)WD FQ3 2026: 35.7% (GAAP, C-E-936)WD FQ4 2026: 41.7% (GAAP, C-E-049)Seagate FQ4 2025: 23.2% (GAAP, C-E-942)Seagate FQ1 2026: 26.4% (GAAP, C-E-102)Seagate FQ2 2026: 29.8% (GAAP, C-E-104)Seagate FQ3 2026: 32.1% (GAAP, C-E-941)Seagate FQ4 2026: 43.0% (GAAP, C-E-055)● Seagate 43.0%● WD 41.7%Q2’25Q3’25Q4’25Q1’26Q2’26
    Up to five quarters ending with this issue; an arrow marks a quarter below the scale, with its value. Source: Company releases.

    EoF indicators

    Each tile follows one company over its own reporting periods. Spending is reported on different bases from company to company, so read each tile across time, not against its neighbors.

    Micron: Operating marginGAAP
    23.3%FQ3 202532.3%FQ4 202545.0%FQ1 202667.6%FQ2 202680.4%FQ3 2026
    Samsung Electronics: Operating marginK-IFRS
    6.3%2Q 202514.1%3Q 202521.4%4Q 202542.7%1Q 202652.2%2Q 2026
    SK hynix: Operating marginK-IFRS
    41%2Q 202546.6%3Q 202558.4%4Q 202572%1Q 202676%2Q 2026
    Nanya Technology: Operating marginTIFRS
    −42.8%2Q 20256.0%3Q 202539.1%4Q 202561.3%1Q 202673.7%2Q 2026
    Macronix International: Operating marginTIFRS
    −15.9%2Q 2025−13.9%3Q 2025−5.1%4Q 202518.5%1Q 202646.9%2Q 2026
    Kioxia: Operating marginnon-GAAP
    13%FY2025 Q119%FY2025 Q227%FY2025 Q360%FY2025 Q475%FY2026 Q1
    Sandisk: Operating marginGAAP
    0.9%FQ4 20257.6%FQ1 202635.2%FQ2 202669.1%FQ3 202678.5%FQ4 2026
    ADATA Technology: Operating marginTIFRS
    9.6%2Q 202513.2%3Q 202535.4%4Q 202547.0%1Q 202633.5%2Q 2026
    Transcend Information: Operating marginTIFRS
    24.1%2Q 202536.8%3Q 202555.6%4Q 202571.8%1Q 202675.1%2Q 2026
    Silicon Motion: Operating marginGAAP
    11.2%2Q 202512.1%3Q 202511.4%4Q 202515.3%1Q 202622.4%2Q 2026
    Phison: Operating marginTIFRS
    13.11%2Q 20257.9%3Q 202514.6%4Q 202536.23%1Q 202638.84%2Q 2026
    FADU: Operating marginK-IFRS preliminary
    −53.2%2Q 2025−44.6%3Q 2025−107.8%4Q 202512.9%1Q 202622.3%2Q 2026
    Marvell Technology: Operating marginGAAP
    14.3%FQ1 FY202614.5%FQ2 FY202617.2%FQ3 FY202618.2%FQ4 FY202614.0%FQ1 FY2027
    NVIDIA: Operating marginGAAP
    49.1%FQ1 FY202660.8%FQ2 FY202663.2%FQ3 FY202665.0%FQ4 FY202665.6%FQ1 FY2027
    AMD: Operating marginGAAP
    −1.7%2Q 202513.7%3Q 202517.1%4Q 202514.4%1Q 202617.3%2Q 2026
    Arm Holdings: Operating marginGAAP
    10.8%FQ1 FY202614.4%FQ2 FY202614.9%FQ3 FY202629.4%FQ4 FY20267.1%FQ1 FY2027
    TSMC: Operating marginTIFRS
    49.6%2Q 202550.6%3Q 202554.0%4Q 202558.1%1Q 202660.3%2Q 2026
    Intel: Operating marginGAAP
    −24.7%2Q 20255.0%3Q 20254.2%4Q 2025−23.1%1Q 202611.1%2Q 2026
    Western Digital: Operating marginGAAP
    26.1%FQ4 202528.1%FQ1 202630.1%FQ2 202635.7%FQ3 202641.7%FQ4 2026
    Seagate: Operating marginGAAP
    23.2%FQ4 202526.4%FQ1 202629.8%FQ2 202632.1%FQ3 202643.0%FQ4 2026
    Micron: Capital spending as a share of revenuenet of incentives
    28.6%FQ3 202543.5%FQ4 202533.0%FQ1 202621.0%FQ2 202617.1%FQ3 2026
    Kioxia: Capital spending as a share of revenuegross capex
    3.0%FY2026 Q1
    Sandisk: Capital spending as a share of revenuenet PP&E
    2.4%FQ4 20252.2%FQ1 20261.3%FQ2 20260.8%FQ3 20260.5%FQ4 2026
    Silicon Motion: Capital spending as a share of revenueas reported
    7.0%1Q 20258.3%3Q 20252.8%4Q 20251.7%2Q 2026
    Western Digital: Capital spending as a share of revenuenet PP&E
    2.7%FQ4 20252.6%FQ1 20263.0%FQ2 20264.3%FQ3 20262.9%FQ4 2026
    Seagate: Capital spending as a share of revenuegross PP&E
    3.4%FQ4 20254.0%FQ1 20264.1%FQ2 20265.2%FQ3 20265.2%FQ4 2026

    02

    Side by side

    Every filed figure for the quarter in one table, each in its own currency and period.

    CompanyPeriodRevenueOperating incomeOperating marginCapex / revenueNAND shareRevenue, year on yearRevenue, last four quarters
    MicronFQ3 2026Mar–May$41.456BGAAP$33.318BGAAP80.4%GAAP17.1%net of incentives–up 345.7%filed currency$90.3BUS dollars
    Samsung Electronics2Q 2026Apr–Jun$114.3Bfiled ₩171.5T, K-IFRS$59.6Bfiled ₩89.49T, K-IFRS52.2%K-IFRS––up 129.9%filed currency$332.5BUS dollars
    SK hynix2Q 2026Apr–Jun$52.9Bfiled ₩79.3187T, K-IFRS$40.3Bfiled ₩60.5426T, K-IFRS76%K-IFRS––up 256.8%filed currency$129.0BUS dollars
    Nanya Technology2Q 2026Apr–Jun$2.6Bfiled NT$82.549B, TIFRS$1.9Bfiled NT$60.826B, TIFRS73.7%TIFRS––up 684.2%filed currency$5.8BUS dollars
    Winbond Electronics2Q 2026Apr–Jun$1.9Bfiled NT$59.843B, TIFRS––––up 184.7%filed currency$4.7BUS dollars
    Macronix International2Q 2026Apr–Jun$605Mfiled NT$19.125B, TIFRS–46.9%TIFRS––up 181.3%filed currency$1.5BUS dollars
    KioxiaFY2026 Q1Apr–Jun$11.1Bfiled ¥1,767.1B, IFRS$8.3Bfiled ¥1,326.2B, non-GAAP75%non-GAAP3.0%gross capex–up 415.5%filed currency$24.0BUS dollars
    SandiskFQ4 2026Apr–Jun$8.965BGAAP$7.037BGAAP78.5%GAAP0.5%net PP&E–up 371.6%filed currency$20.2BUS dollars
    ADATA Technology2Q 2026Apr–Jun$1.2Bfiled NT$38.143B, TIFRS$404Mfiled NT$12.765B, TIFRS33.5%TIFRS––up 197.4%filed currency$3.0BUS dollars
    Transcend Information2Q 2026Apr–Jun$595Mfiled NT$18.815419B, TIFRS$447Mfiled NT$14.127135B, TIFRS75.1%TIFRS––up 482.4%filed currency$1.4BUS dollars
    Longsys2Q 2026Apr–Jun$2.1Bfiled CN¥14.179637B, CAS, half year less 1Q––––up 138.7%filed currency$5.3BUS dollars
    Biwin Storage2Q 2026Apr–Jun$1.3Bfiled CN¥8.760691B, CAS, half year less 1Q––––up 269.8%filed currency$3.3BUS dollars
    Silicon Motion2Q 2026Apr–Jun$451.0MGAAP$101.1MGAAP22.4%GAAP1.7%as reported–up 127.0%filed currency$1.3BUS dollars
    Phison2Q 2026Apr–Jun$2.1Bfiled NT$67.888B, TIFRS$834Mfiled NT$26.37B, TIFRS38.84%TIFRS––up 279.5%filed currency$4.8BUS dollars
    Maxio Technology2Q 2026Apr–Jun$73Mfiled CN¥498.83M, CAS––––up 35.3%filed currency$224MUS dollars
    FADU2Q 2026Apr–Jun$49Mfiled ₩73.2B, K-IFRS preliminary$11Mfiled ₩16.3B, K-IFRS preliminary22.3%K-IFRS preliminary––up 208.9%filed currency$124MUS dollars
    Marvell TechnologyFQ1 FY2027Feb–Apr *$2.4178BGAAP$339.4MGAAP14.0%GAAP––up 27.6%filed currency$8.7BUS dollars
    NVIDIAFQ1 FY2027Feb–Apr *$81.615BGAAP$53.536BGAAP65.6%GAAP––up 85.2%filed currency$253.5BUS dollars
    AMD2Q 2026Apr–Jun$11.536BGAAP$1.99BGAAP17.3%GAAP––up 50.1%filed currency$41.3BUS dollars
    Arm HoldingsFQ1 FY2027Apr–Jun$1.289BGAAP$91MGAAP7.1%GAAP––up 22.4%filed currency$5.2BUS dollars
    TSMC2Q 2026Apr–Jun$40.2Bfiled NT$1,270.38B, TIFRS–60.3%TIFRS––up 36.0%filed currency$142.8BUS dollars
    Intel2Q 2026Apr–Jun$16.1BGAAP–11.1%GAAP––up 24.8%filed currency$57.1BUS dollars
    Western DigitalFQ4 2026Apr–Jun$3.747BGAAP$1.563BGAAP41.7%GAAP2.9%net PP&E–up 43.8%filed currency$12.9BUS dollars
    SeagateFQ4 2026Apr–Jun$3.629BGAAP$1.559BGAAP43.0%GAAP5.2%gross PP&E–up 48.5%filed currency$12.2BUS dollars
    CXMT (ChangXin Memory)2Q 2026Apr–Jun$14.6Bfiled CN¥99.50993B, CAS$12.0Bfiled CN¥81.71141B, CAS–––up 977.4%filed currency–

    Under each period are the months it mostly covers. A star marks a quarter that mostly falls in the calendar quarter before, because the company’s fiscal quarter ends only a month or so into this one. Year-on-year growth compares a company’s quarter with its same quarter a year earlier, in the currency it files in. The last four quarters add each quarter’s revenue in US dollars, shown where all four are filed.

    Won, yen, New Taiwan dollar and yuan figures are converted to US dollars at the Federal Reserve H.10 average for the calendar quarter; the filed figure is under each.

    Sources

    Primary is the original paper, standard or datasheet. Secondary is a review, a vendor summary or a news report. Measured is my own test data.

    Show all 112 sources, 111 primary