Micron FQ4 2026 slides: record revenue, AI demand drives supply tightness

Micron Technology reported record-breaking results for fiscal Q4 2026 and full-year 2026, significantly exceeding analyst expectations. The company's revenue reached $54.2 billion for the quarter, representing a 31% sequential increase and a 379% year-over-year surge, while the full-year revenue reached $133.2 billion, up 256% from the previous year.

Micron's strong performance was primarily driven by artificial intelligence demand, leading to structural supply constraints expected to persist through 2028. The company's non-GAAP operating results demonstrated exceptional profitability, with gross margins of 87.0%, operating income of $44.64 billion, and net income of $38.40 billion.

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