Micron forecasts revenue above estimates on AI demand
Micron said memory and storage supply-and-demand conditions are expected to be much tighter in fiscal 2027 and 2028 than in 2026.
Micron Technology reported record-breaking financial performance for fiscal Q4 2026 and full-year 2026, surpassing Wall Street expectations. The company delivered $54.2 billion in quarterly revenue and $133.2 billion in annual revenue, both representing substantial year-over-year growth. AI demand and structural supply constraints are driving high demand for memory products, creating tightness in the supply chain.
Micron's gross margins were impressive at 87.0% for the quarter and 81% for the year, with net income reaching $38.40 billion and adjusted free cash flow of $33.20 billion. The company has signed 26 Strategic Customer Agreements (SCAs), covering over 35% of its revenue through 2030. These SCAs provide financial commitments totaling $32 billion and reflect customers' confidence in Micron's memory and storage solutions.
Micron's advanced technology nodes, particularly its 1γ DRAM and G9 NAND nodes, are on track for record production volumes in 2027. The company is poised to maintain its leadership position in both DRAM and NAND markets, with strong data center SSD revenue expected for 2026.
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