Micron Revenue Jumps 379% to $54.23B on AI Memory Surge

Micron reported a record-breaking fiscal fourth-quarter revenue of $54.23 billion in 2026, marking a 379% surge from $11.32 billion during the same period last year. Driven by surging demand for Micron AI memory—which continues to outpace available supply—earnings reached $33.42 per share, surpassing Wall Street projections of $31.61. Net income rose substantially to $37.7 billion compared to $3.2 billion previously. This strong expansion brought full-year sales to $133.19 billion, though Micron stock showed little movement in after-hours trading.

Micron Revenue Growth: Earnings, AI Demand And Stock Outlook

Chairman and CEO Sanjay Mehrotra attributed the dramatic increase in Micron revenue directly to artificial intelligence, stating:

“Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027. AI is becoming Super Intelligence (SI), and memory enhances this intelligence and the competitiveness of our customers’ platforms. We are increasing our investments in technology, products and manufacturing to help drive SI forward with our customers, and our Strategic Customer Agreements provide added confidence in the durability of Micron’s financial performance.”

Micron Earnings Top Estimates As DRAM Leads

The gross margin reached a record 87%, with DRAM chips generating the vast majority of the business, accounting for nearly three-quarters of total Micron revenue.

Chief Financial Officer Mark Murphy shared further details:

“Consolidated fiscal Q4 revenue was $54.2 billion, up 31% sequentially and up 379% year over year. Fiscal Q4 revenue was our sixth consecutive quarterly revenue record. Fiscal Q4 DRAM revenue was a record $39.8 billion, up 343% year over year and represented 73% of total revenue. Sequentially, DRAM revenue increased 27%.”

Looking ahead to the first quarter of fiscal 2027, Micron projects midpoint figures of $38.15 per share and $61.5 billion in sales, exceeding analyst expectations of $35.40 and $57 billion, respectively. If achieved, quarterly sales will climb by approximately another $7.3 billion.

Micron AI Memory Demand Keeps Supply Tight

As the sole US manufacturer of high-bandwidth memory (HBM)—a crucial component for AI chips operating large models—Micron is seeing exceptional interest. Mehrotra noted during the earnings call that clients have already committed to buying over 75% of the company’s projected 2027 output. Rising prices also bolstered Micron revenue, with DRAM prices increasing by a high-teens percentage last quarter. Given the intensity of Micron AI memory demand, the company cannot yet predict when market supply and demand will equalize.

Mehrotra added:

“As strong as fiscal 2026 was, we expect fiscal 2027 to be even better. Industry demand has strengthened since our last earnings call, and we expect memory and storage supply-demand conditions to be much tighter in fiscal 2027 and 2028 than they were in 2026.”

Micron Stock Outlook After The Record Quarter

After-hours trading saw shares steady at roughly $1,065. Investors had largely anticipated a significant earnings beat following a more than 500% surge in Micron stock over the past year. This marks the eighth consecutive quarter that Micron earnings have exceeded forecasts, bringing the company’s market capitalization above $1.2 trillion.

Micron anticipates fiscal 2027 to break more records, with continuous quarterly increases in Micron revenue. Additionally, share buybacks are scheduled to resume starting December 9.

Supported by 26 long-term agreements accounting for more than 35% of forecasted sales through 2030, the trajectory of future Micron revenue growth will largely depend on how quickly new manufacturing facilities in Idaho and New York become operational.

?Frequently Asked Questions

01What drove Micron’s record revenue in fiscal Q4 2026?

Micron’s revenue surged primarily due to extraordinary demand for AI memory, particularly high-bandwidth memory (HBM) and DRAM chips, which saw a 343% year-over-year increase.

02How much did Micron’s revenue increase year-over-year?

Micron’s fiscal fourth-quarter revenue increased by 379%, jumping from $11.32 billion a year earlier to a record $54.23 billion.

03What is Micron expecting for fiscal 2027?

The company anticipates an even stronger fiscal 2027, projecting Q1 sales of $61.5 billion and earnings of $38.15 per share at the midpoint, alongside tightening memory and storage supply conditions.

04How much of Micron’s 2027 output is already spoken for?

Customers have already locked in more than 75% of Micron’s projected output for 2027.

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