Micron Technology delivered quarterly results that exceeded analyst expectations on Wednesday, with the memory chip manufacturer capitalizing on elevated demand for artificial intelligence infrastructure. The company’s fourth-quarter revenue nearly quadrupled compared to the prior year period, reaching approximately $11.32 billion. The stock moved modestly higher in after-hours trading following the announcement.
For the upcoming fiscal first quarter, Micron projected revenue of approximately $61.5 billion and adjusted earnings per share of $38.15, both figures exceeding LSEG consensus forecasts of $57 billion in revenue and $35.40 in adjusted earnings per share. The company’s net income in the latest quarter reached $37.7 billion, equivalent to $32.87 per share, compared with $3.2 billion or $2.83 per share in the year-ago period.
DRAM revenue climbed substantially in the quarter, increasing 343% year-over-year to $39.8 billion and comprising 73% of total sales. Micron holds a unique position as the only U.S.-based manufacturer of high-bandwidth memory, a critical component for advanced processors used in artificial intelligence applications. CEO Sanjay Mehrotra noted the company maintains a robust product roadmap and is collaborating with Nvidia on a custom HBM implementation.
Micron’s equity has appreciated more than 500% over the preceding year amid a global supply shortage of memory chips driven by extraordinary demand for AI-related applications. This scarcity has increased memory component costs and contributed to higher pricing for consumer electronics. In response to supply constraints, the company is investing $250 billion in two new manufacturing campuses, with the primary facility having broken ground in Clay, New York, and a new fab in Boise, Idaho, scheduled to commence operations next year. Despite holding the smallest HBM market share among the three leading producers—which include SK Hynix and Samsung—Micron’s market capitalization has exceeded $1.2 trillion.
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