Micron Technology posted $54.23 billion in revenue for its fiscal fourth quarter, up 379% from a year earlier. It also forecast $61.5 billion for the current quarter, well above Wall Street estimates.
Micron makes memory chips, the parts that hold data while artificial intelligence (AI) processors work on it. Demand from AI data centers lifted all four of its business units.
Micron Revenue Beats Estimates by $3 Billion
Analysts had expected about $51.1 billion for the quarter ended Sept. 3. Micron cleared that by more than $3 billion.
Adjusted earnings reached $33.42 per share, also above forecasts. Net income under standard accounting rules hit $37.70 billion, up from $3.20 billion a year earlier.
Profitability shifted even more. Micron kept 87 cents of every sales dollar after production costs, compared with about 46 cents a year ago.
Data center chips led the jump. Core Data Center revenue rose to $18 billion from $1.58 billion, while Cloud Memory brought in $16.28 billion.
Customers Prepay $12.7 Billion to Lock In Supply
Micron’s filings show customers deposited $12.75 billion under long-term supply contracts during fiscal 2026. Most of that money arrived in the final quarter.
CEO Sanjay Mehrotra tied the outlook to those deals.
“…our Strategic Customer Agreements provide added confidence in the durability of Micron’s financial performance,” he said in a statement.
For the fiscal first quarter of 2027, Micron guided $61.5 billion, plus or minus $1.5 billion. Analysts had pencilled in $57.02 billion. However, its gross margin guide of about 86.25% sat slightly below the 86.4% estimate.
Micron Stock Barely Moves as Burry Bets Against It
Shares barely reacted. Micron closed at $1,065.08 and traded near $1,068.90 after hours, up 0.36%, shortly after the release.
Some investors remain unconvinced. Michael Burry, the “Big Short” investor, this week disclosed put options on Micron, a bet that profits if the stock falls.
Chip stocks also slid earlier this month on AI slowdown crash fears. Meanwhile, analysts handed out new Micron price targets last week as Taiwan chip exports hit a record.
Management discusses the outlook on its earnings call at 4:30 p.m. EDT on Wednesday.