The Investor
30 Sep 2026, 20:22
Micron Stock Rises around 1% After Record Q4 Revenue and Strong Fiscal 2027 Guidance
Micron shares rose around 1% after the company reported record fiscal fourth-quarter results, driven by strong memory pricing, AI-related data center demand and sharp growth across both DRAM and NAND.
Fourth-quarter revenue reached $54.2 billion, up 31% sequentially and 379% year over year. Full-year revenue climbed 256% to $133.2 billion. Non-GAAP gross margin reached 87%, while operating income was $44.6 billion and diluted EPS came in at $33.42.
DRAM generated $39.8 billion in quarterly revenue, representing 73% of total sales and rising 27% sequentially. NAND revenue increased 42% to $14.1 billion, supported by roughly 30% sequential growth in average selling prices.
Data center businesses remained key growth drivers. Cloud Memory revenue reached a record $16.3 billion, while Core Data Center revenue hit $18.0 billion, up 56% sequentially. Core Data Center gross margin increased to 90%.
Cash generation was also exceptionally strong, with $44.0 billion in operating cash flow and $33.2 billion in adjusted free cash flow during the quarter.
For fiscal Q1 2027, Micron expects revenue of $61.5 billion, plus or minus $1.5 billion, non-GAAP gross margin of approximately 86.25% and diluted EPS of $38.15, plus or minus $1.00.
The 1% gain suggests investors welcomed another record quarter and strong guidance, although the relatively modest reaction may indicate that exceptionally strong memory pricing and AI-related growth expectations were already reflected in the stock.
Micron shares rose around 1% after the company reported record fiscal fourth-quarter results, driven by strong memory pricing, AI-related data center demand and sharp growth across both DRAM and NAND.
Fourth-quarter revenue reached $54.2 billion, up 31% sequentially and 379% year over year. Full-year revenue climbed 256% to $133.2 billion. Non-GAAP gross margin reached 87%, while operating income was $44.6 billion and diluted EPS came in at $33.42.
DRAM generated $39.8 billion in quarterly revenue, representing 73% of total sales and rising 27% sequentially. NAND revenue increased 42% to $14.1 billion, supported by roughly 30% sequential growth in average selling prices.
Data center businesses remained key growth drivers. Cloud Memory revenue reached a record $16.3 billion, while Core Data Center revenue hit $18.0 billion, up 56% sequentially. Core Data Center gross margin increased to 90%.
Cash generation was also exceptionally strong, with $44.0 billion in operating cash flow and $33.2 billion in adjusted free cash flow during the quarter.
For fiscal Q1 2027, Micron expects revenue of $61.5 billion, plus or minus $1.5 billion, non-GAAP gross margin of approximately 86.25% and diluted EPS of $38.15, plus or minus $1.00.
The 1% gain suggests investors welcomed another record quarter and strong guidance, although the relatively modest reaction may indicate that exceptionally strong memory pricing and AI-related growth expectations were already reflected in the stock.
