Micron delivered fiscal fourth-quarter results that exceeded analyst expectations, driven by extraordinary demand for memory chips used in artificial intelligence systems. The company reported revenue of approximately $11.32 billion from the prior year, reflecting a dramatic expansion in business scale. For the fiscal first quarter, management issued guidance of about $61.5 billion in revenue and adjusted earnings per share of $38.15, surpassing LSEG consensus estimates of $57 billion in revenue and $35.40 in adjusted earnings per share.
The company’s high-bandwidth memory segment experienced particularly strong growth, with fourth-quarter DRAM revenue climbing 343% compared to the year-ago period to reach $39.8 billion, accounting for 73% of total sales. This expansion reflects an acute worldwide shortage of memory chips needed for AI model development and deployment, which has driven up component costs and resulted in higher prices for consumer electronics. Micron’s stock has appreciated more than 500% over the preceding twelve months as investors responded to the supply constraints and elevated demand environment.
Micron operates as the sole U.S.-based manufacturer of high-bandwidth memory, positioning it uniquely in the market alongside major competitors SK Hynix and Samsung based in South Korea. Net income for the latest quarter reached $37.7 billion, representing $32.87 per share, a substantial increase from $3.2 billion or $2.83 per share in the comparable prior-year quarter. Chief Executive Officer Sanjay Mehrotra emphasized the company’s pipeline of advanced HBM products and noted ongoing collaboration with Nvidia on custom implementations of the technology.
To address capacity constraints, Micron announced a $250 billion investment program to construct two new manufacturing campuses. A major facility in Clay, New York broke ground in January, while a new fabrication plant in Boise, Idaho is projected to commence operations later this year. Industry analysts have noted the absence of negative signals regarding a near-term reversal in the memory cycle, suggesting sustained demand may persist across the foreseeable future. The company also increased compensation for all employees during fiscal 2026 amid labor negotiations across the semiconductor sector.
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