Micron Technology delivered stronger-than-expected quarterly results on Wednesday, as surging demand for memory chips used in artificial intelligence infrastructure continues to drive growth. The company’s shares edged higher in extended trading.
Micron Beats Wall Street Expectations
For its fiscal fourth quarter, Micron reported:
- Adjusted earnings per share: $33.42, compared with $31.61 expected
- Revenue: $54.23 billion, versus $51.07 billion expected
Quarterly revenue nearly quadrupled from $11.32 billion a year earlier, according to the company’s results statement.
Micron also issued an upbeat outlook for the fiscal first quarter, forecasting revenue of approximately $61.5 billion and adjusted earnings of $38.15 per share. Analysts surveyed by LSEG had been expecting $57 billion in revenue and adjusted earnings of $35.40 per share.
Micron’s stock has gained more than 500% over the past year as the global supply of memory chips struggles to keep pace with demand from artificial intelligence systems.
The shortage has pushed memory prices higher and contributed to rising costs for consumer electronics, including Apple’s iPads and MacBooks.
Hendi Susanto, a portfolio manager at Gabelli Funds, described the latest results as “another strong beat and raise for Micron,” adding that he had not seen negative indicators suggesting the current memory cycle was close to reversing
Micron is the only U.S.-based manufacturer of high-bandwidth memory, or HBM, a specialized form of memory built from stacks of DRAM chips and increasingly important for AI workloads.
The company’s fourth-quarter DRAM revenue surged 343% year over year to $39.8 billion, accounting for about 73% of total sales.
Chief Executive Officer Sanjay Mehrotra said during the earnings call that Micron has a “strong roadmap for future HBM products” and is working with Nvidia on what he described as the industry’s first custom HBM implementation.
Micron Posts Record Results as AI Boom Drives Memory Chip Demand
Micron’s net income rose sharply to $37.7 billion, or $32.87 per share, from $3.2 billion, or $2.83 per share, in the same quarter a year earlier.
Micron Expands HBM Manufacturing
Advanced graphics processors and central processors from companies such as Nvidia and AMD increasingly rely on HBM to process demanding AI workloads. Global suppliers are struggling to produce enough of the specialized memory to meet demand.
To expand capacity, Micron is investing $250 billion in two new manufacturing campuses focused on HBM production. The larger project broke ground in Clay, New York, in January, while the company’s first new fab in Boise, Idaho, is expected to begin operations next year.
South Korean rivals SK Hynix and Samsung are also investing heavily in new HBM manufacturing facilities. Although Micron currently holds the smallest HBM market share among the three companies, its market capitalization has surpassed $1.2 trillion.
Labor and Washington Engagement
Mehrotra also took part in an AI regulation summit hosted by President Donald Trump on Tuesday, shortly after attending a White House dinner with Chinese President Xi Jinping during Xi’s first U.S. visit in more than a decade.
During the earnings call, Mehrotra said Micron increased compensation for all employees during fiscal 2026.
The company has also faced labor pressure in Taiwan, where hundreds of workers have threatened to strike amid negotiations over wages and working conditions. Rival memory manufacturers SK Hynix and Samsung have faced similar labor actions, with some workers receiving bonuses reportedly exceeding $500,000.
