Micron reported another record quarter as continuing demand for memory chips drove revenue over the past three months to $54.23 billion, five times the year-earlier level. Adjusted earnings rose elevenfold to $33.42 per share.
Chief executive Sanjay Mehrotra said the company expects even stronger results in fiscal 2026/27 and will increase investment in technology, products and manufacturing.
For the first quarter of fiscal 2026/27, Micron projected revenue of $60 billion to $63 billion and adjusted earnings of $37.15 to $39.15 per share. Both ranges were significantly above market forecasts.
Bob O'Donnell, chief analyst at research firm TECHnalysis, said the results and outlook should ease doubts about the durability of the artificial-intelligence build-out. That is the analyst's assessment, not a guarantee of future growth.
Micron shares rose just under half a percent in after-hours trading on Wall Street. Over the past year, the stock has nearly sextupled, substantially outperforming South Korean competitors Samsung and SK Hynix.