$MU · MICRON TECHNOLOGY INC
Micron Technology reported record results for Q4 and full-year FY2026 ended September 3, 2026. FQ4 revenue reached $54.23B with GAAP diluted EPS of $32.87, while full-year revenue hit $133.19B with GAAP diluted EPS of $74.33. The company guided FQ1-27 revenue to $61.5B ± $1.5B and non-GAAP diluted EPS of $38.15 ± $1.00, projecting an even stronger fiscal 2027.
- FQ4-26 revenue of $54.23B surged 379% YoY from $11.32B and 31% sequentially from $41.46B.
- GAAP diluted EPS of $32.87 in FQ4-26 versus $2.83 a year ago; full-year GAAP EPS reached $74.33.
- Gross margin hit 86.8% GAAP in FQ4-26, up from 44.7% in FQ4-25, driven by AI demand and pricing.
- Operating cash flow reached $43.97B in FQ4-26 and $89.68B for the full fiscal year.
- FQ1-27 guidance: revenue of $61.5B ± $1.5B and non-GAAP diluted EPS of $38.15 ± $1.00.
Stock is down 0.72% from filing-time price of $1072.83 in after-hours trading. The slight dip may reflect profit-taking after a massive FY2026 run, despite blowout numbers and strong FQ1-27 guidance.
Micron's FY2026 results represent one of the most dramatic single-year revenue expansions in semiconductor history, driven by AI memory demand, with guidance pointing to continued acceleration.
Micron's FY2026 revenue of $133.2B — nearly 4x the prior year — underscores the unprecedented scale of AI-driven memory demand. The Core Data Center unit alone grew from $1.58B to $18.0B quarterly, reflecting hyperscaler buildout intensity.
Forward-looking statements cite risks including customer demand variability, industry cyclicality, and factors in Micron's 10-K and 10-Q. The $27.37B in FY2026 capex represents a massive capacity bet that could pressure margins if AI demand moderates.
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