Micron smashes Q4 targets with record $54.2 billion revenue amid AI boom
Memory chip maker Micron Technology reported fiscal fourth-quarter 2026 earnings on September 30th, beating Wall Street expectations on both revenue and profit. The company posted revenue of 54.23 billion dollars, up 379 percent year-over-year, and adjusted earnings per share of 33 dollars and 42 cents, surpassing estimates of 31 dollars and 61 cents. The strong results reflect surging demand for AI infrastructure and memory chips used in data centers. However, the stock dipped about one percent in after-hours trading as investors focused on the company's aggressive capital spending plans. Micron guided to even stronger results for the coming quarter, projecting revenue of 61 point five billion dollars and adjusted earnings of 38 dollars and 15 cents per share. The company is investing heavily in new manufacturing capacity to keep pace with what it describes as ongoing memory supply shortages expected to extend into 2027 and 2028.
Key facts
- Micron Q4 revenue reached 54.23 billion dollars, beating analyst estimates of 51.33 billion by 7.5 percent
- Adjusted earnings per share of 33.42 dollars exceeded forecasts of 31.72 dollars, representing a 938 percent year-over-year increase
- Company guided Q1 2027 revenue of 61.5 billion dollars plus or minus 1.5 billion, well above consensus estimates of 57.2 billion
- Micron raised full-year fiscal 2027 capital expenditure guidance above mid-40 billion dollars range, up from prior 27 billion in fiscal 2026
- Data center DRAM revenue jumped 343 percent to 39.8 billion dollars, representing 73 percent of total sales
- Company holds 26 signed Strategic Customer Agreements providing visibility into demand through end of decade
- Stock fell about 1 percent in after-hours trading despite earnings beat, reflecting investor concerns about capex spending
Limits of this briefing
All major sources report the same financial data from official company filings and earnings calls. However, sources differ on emphasis: some highlight the bull case on valuations and long-term demand visibility, while others stress cyclical risks and the execution challenges of building new fab capacity simultaneously across the industry.
Sources
- CNBC: Micron beats on earnings and issues strong guidance as data center revenue jumps 11-fold Centre
- Investing.com: Earnings call transcript: Micron tops Q4 2026 estimates as demand stays hot Centre
- TheStreet: Micron Q4 2026 Earnings: Updates of $MU Earnings Call, Outlook Centre
- Bloomberg: Micron Gives Bullish Forecast, Even as Pay Raises Crimp Margins Centre
- Yahoo Finance: Micron tops Q4 estimates on top and bottom lines, offers strong Q1 outlook Centre