Micron Revenue Quadruples to $54.23 Billion, Forecasts $61.5 Billion on AI Memory Demand
Updated
Updated · CNBC · Sep 30
Micron Revenue Quadruples to $54.23 Billion, Forecasts $61.5 Billion on AI Memory Demand
3 articles · Updated · CNBC · Sep 30
Summary
$54.23 billion in fiscal fourth-quarter revenue nearly quadrupled from $11.32 billion a year earlier, while adjusted EPS of $33.42 beat the $31.61 LSEG consensus.
Micron also guided fiscal first-quarter revenue to about $61.5 billion and adjusted EPS to $38.15, both above analyst expectations of $57 billion and $35.40.
AI-driven memory shortages powered the surge: DRAM revenue jumped 343% to $39.8 billion, or 73% of sales, as demand for high-bandwidth memory outstripped supply.
To expand capacity, Micron is investing $250 billion in new HBM campuses in New York and Idaho, while CEO Sanjay Mehrotra said the company is working with Nvidia on a custom HBM product.
The boom has lifted Micron shares more than 500% over the past year and pushed up memory costs across electronics, even as labor tensions have threatened strikes at its Taiwan factories.