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

What happened: Micron Technology reported fiscal Q4 2026 revenue of $54.23 billion, a 379% year-over-year increase from $11.32 billion, driven by surging demand for AI memory products. Non-GAAP EPS reached $33.42, beating consensus estimates. For the full fiscal year, revenue hit $133.19 billion, up 256% from FY2025. The company noted that the “vast majority” of 2027 HBM (high-bandwidth memory) supply is already locked in at higher prices, and data-center SSD revenue exceeded $10 billion for the quarter.

Why it matters: Micron’s explosive growth reflects the structural shift in data infrastructure demand fueled by AI. While supply tightness is boosting prices and margins, some analysts caution that such conditions could pull forward demand and lead to cyclical corrections. Nevertheless, Micron’s partnership with NVIDIA on next-gen HBM4E memory positions it as a key beneficiary of the AI hardware boom.

Source: CNBC