Micron beats and guides above Street as AI memory demand keeps accelerating
Micron's revenue nearly quadrupled year-on-year and its guidance tops estimates, signaling AI memory demand has not slowed.
ImportanceMaterialEvidenceE3 inspectableWrite-upStandard
Micron's fiscal fourth-quarter revenue came in at $54.23 billion, up 379% from a year earlier and above the $51.07 billion consensus estimate.
Adjusted EPS was $33.42 versus $31.61 expected, and operating cash flow reached $43.97 billion against $34.47 billion expected. Data-center-related segments contributed roughly $34.3 billion combined, with Core Data Center at $18 billion and Cloud Memory at $16.28 billion.
The company guided fiscal first-quarter 2027 revenue to $61.5 billion, plus or minus $1.5 billion, above the $57.02 billion estimate, with adjusted gross margin of about 86.25%, slightly below consensus. CEO Sanjay Mehrotra said fiscal 2027 should be even stronger than record fiscal 2026. Micron is now sampling 512GB DDR5 modules and says it has AI workstation design wins with every major PC maker.
One caveat: the surge coincides with a memory price upcycle, and the results do not break out how much is AI demand versus price increases.