Micron Technology reported its fiscal fourth-quarter earnings on September 30, 2026, surpassing analysts’ expectations with adjusted earnings per share of $33.42, above the $31.61 forecast, and revenue of $54.23 billion, beating the $51.07 billion estimate. This reflects an almost fourfold increase from $11.32 billion in revenue a year earlier, driven largely by surging demand for memory chips essential to artificial intelligence (AI) infrastructure. The company’s stock has surged more than 500% over the past year amid a global chip shortage fueling higher memory prices.

A standout in Micron’s results was its data center revenue, which grew elevenfold, with DRAM sales rising 343% year over year to $39.8 billion, accounting for 73% of total revenues. The firm remains the only U.S.-based producer of high-bandwidth memory (HBM), critical for advanced AI computing alongside graphics and central processors from industry leaders like Nvidia and AMD. CEO Sanjay Mehrotra highlighted ongoing collaboration with Nvidia on pioneering custom HBM products and reiterated a robust roadmap for future memory technology.

Looking ahead, Micron forecast first-quarter revenue of approximately $61.5 billion and adjusted earnings per share near $38.15, exceeding Wall Street expectations. The company is investing $250 billion in new manufacturing facilities to meet rising HBM demand, including campuses in Clay, New York, and Boise, Idaho. Despite holding the smallest market share in HBM compared to South Korean rivals SK Hynix and Samsung, Micron’s market capitalization has surpassed $1.2 trillion, reflecting investor confidence in its strategic position.

Mehrotra recently engaged in high-profile diplomacy on AI regulation with President Donald Trump and Chinese leadership, underscoring the geopolitical significance of semiconductor technology. The company also plans increased employee compensation for fiscal 2026 amid labor negotiations and potential strikes at its Taiwan factories. With AI-driven memory demand unlikely to decline soon, Micron’s strong quarterly performance and ambitious expansion signal sustained momentum in the semiconductor sector.