Micron Technology announced its fiscal 2026 Q4 and full-year results:
Key Highlights for the Fourth Quarter of Fiscal Year 2026
Revenue totaled $54.23 billion, up from $41.46 billion in the previous quarter and $11.32 billion in the same period last year.
Under U.S. Generally Accepted Accounting Principles, net profit was $37.7 billion, or $32.87 per diluted share.Non-GAAP net profit was $38.4 billion, or $33.42 per diluted share.
Cash flow from operating activities totaled $43.97 billion, compared with $25.39 billion in the previous quarter and $5.73 billion in the same period last year.
Fiscal Year 2026 Highlights
Revenue totaled $133.19 billion, compared with $37.38 billion in the same period last year.
Under U.S. Generally Accepted Accounting Principles, net profit totaled $84.97 billion, or $74.33 per diluted share.
Non-GAAP net profit was $86.76 billion, or $75.52 per diluted share.
Operating cash flow totaled $89.68 billion, compared with $17.53 billion in the same period last year.
"Micron Technology's fiscal 2026 results reached an all-time high, and we expect even stronger performance in fiscal 2027," said Sanjay Mehrotra, Chairman and CEO of Micron Technology. "Artificial intelligence is advancing toward superintelligence (SI), and memory can enhance this intelligence while boosting the competitiveness of our customers' platforms. We are increasing our investments in technology, products, and manufacturing to help our customers drive the development of superintelligence, and the agreements we have signed with strategic customers further bolster confidence in Micron Technology's sustained financial performance."
Micron stated that it expects operating expenses to increase by approximately $2.5 billion in fiscal year 2027. It also anticipates that memory and storage supply‑demand conditions in fiscal years 2027 and 2028 will be significantly tighter than in 2026. Capital expenditures are projected at roughly $11.5 billion for the first quarter of fiscal year 2027 and about $25 billion for the first half of fiscal year 2027.
Fiscal Year 2027 Q1 Outlook:
Revenue is expected to be between $60.0 billion and $63.0 billion, with adjusted EPS ranging from $37.15 to $39.15.
Product Highlights
We have begun sample testing of the industry's first 512GB ultra-high-density, high-capacity DDR5 RDIMM module, which delivers speeds of up to 9,200 MT/s.
We have completed multiple customer certifications for our 1‑gamma, 8,800 MT/s high‑speed server RDIMM modules.
In the fourth quarter of 2026, revenue from our industry-leading server LPDDR SOC‑AMM product portfolio more than doubled quarter over quarter.
Our high-performance 7600 PCIe Gen 5 and 9650 PCIe Gen 6 SSDs are now shipping to market-leading customers for KV cache applications.
Our 6600 ION SSD achieved strong sales growth in the fourth quarter of 2026.
We are now shipping 6-channel 1-gamma LPDDR5X memory for flagship mobile devices.
We have successfully signed design contracts for AI workstation products with all Tier‑1 OEM customers.
Our 4600 SSD has received additional certifications from leading PC OEM manufacturers.
We have begun shipping 1-gamma–based LPDDR6 product samples to multiple physical AI markets.
