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Micron Beats Quarterly Estimates and Guides Higher as Global Memory Shortage Persists

Micron posted fiscal fourth-quarter earnings and revenue above analyst estimates and forecast about $61.5 billion in revenue for the current quarter, as an AI-driven memory shortage continues to lift demand and prices.

AI News Feed · 2026-10-01 06:43

For the fiscal fourth quarter, Micron reported adjusted earnings per share of $33.42, compared with the $31.61 analysts surveyed by LSEG had expected. Revenue came in at $54.23 billion, above the $51.07 billion consensus, and up from $11.32 billion in the same quarter a year earlier, the company said in a statement.

For the fiscal first quarter, Micron said it expects revenue of about $61.5 billion and adjusted earnings per share of $38.15. Analysts polled by LSEG had projected adjusted earnings per share of $35.40 on revenue of $57 billion. Executives were scheduled to discuss the results with analysts on a conference call starting at 4:30 p.m. ET.

Micron's stock has climbed more than 500% over the past year, lifted by a worldwide supply crunch caused by record demand for the memory chips needed to run AI models and workloads. The shortage has pushed up memory costs and raised prices for consumer electronics including Apple's iPads and MacBooks.

Micron is the only U.S.-based maker of high-bandwidth memory, or HBM, which is built from stacks of general-purpose dynamic random-access memory, known as DRAM. Advanced graphics and central processors from chipmakers such as Nvidia and AMD require growing amounts of HBM to handle AI workloads, and the world's leading suppliers have not been able to produce enough.

Micron is investing $250 billion to build two new campuses for HBM manufacturing. The largest broke ground in Clay, New York, in January, while the company's first new fab in Boise, Idaho, is scheduled to come online next year. HBM leaders SK Hynix and Samsung are also in the middle of large new HBM factory buildouts in South Korea. Micron holds the smallest HBM market share of the three, but its market capitalization has still topped $1.2 trillion.

Chief Executive Sanjay Mehrotra took part Tuesday in a summit on AI regulation hosted by President Donald Trump, days after attending a White House dinner with Chinese President Xi Jinping during Xi's first visit to the United States in more than a decade.

Editor's Summary

Micron's fiscal fourth-quarter results and guidance both came in above analyst estimates, reflecting a memory supply shortage that has driven up prices and lifted its shares more than 500% in a year. The company is the only U.S.-based HBM producer and is spending $250 billion on new manufacturing capacity, even as it holds the smallest share of that market behind SK Hynix and Samsung.