[Edaily Reporter KIM YOON JI ] Memory semiconductor manufacturer Micron continued to benefit from surging demand for artificial intelligence (AI) infrastructure, reporting quarterly earnings that exceeded market expectations on the 30th (local time). Following the earnings announcement, the company’s stock price rose slightly in after-hours trading.
After the market closed that day, Micron announced that its adjusted earnings per share (EPS) for the fourth quarter of fiscal year 2026 (June–August) was $33.42. This exceeded the market consensus of $31.61, as compiled by financial research firm LSEG. Revenue for the same period also nearly quadrupled year-over-year to $54.23 billion, exceeding the forecast of $51.07 billion.
Micron’s fourth-quarter DRAM revenue surged 343% year-over-year to $39.8 billion, accounting for 73% of total revenue. Micron is the only company in the United States that manufactures High Bandwidth Memory (HBM). HBM is a memory semiconductor that stacks general-purpose DRAM in multiple layers to increase data processing speed.

Micron forecast revenue of approximately $61.5 billion and adjusted EPS of $38.15 for the first quarter of fiscal year 2027 (September–November). Analyst estimates compiled by LSEG were $57 billion in revenue and $35.40 in adjusted EPS.
Micron’s stock price has surged more than 500% over the past year. This is due to a global supply shortage that has intensified as demand for memory semiconductors—necessary for AI models and various AI-related tasks—has soared to record highs. As prices have skyrocketed due to the memory shortage, prices for consumer electronics such as Apple’s iPad and MacBook have also risen.
Hendy Susanto, a portfolio manager at Gabelli Funds, commented after the earnings announcement, “Micron has once again delivered a strong earnings surprise and raised its outlook.” He added, “At this point, I haven’t heard any negative signals at all that the memory cycle will reverse into a downturn in the near future.”
During the earnings call, Sanjay Mehrotra, Micron’s CEO, stated, “We have a strong roadmap for future HBM products,” and revealed that the company is collaborating with NVIDIA to implement the industry’s first “custom HBM.”
Advanced graphics processing units (GPUs) and central processing units (CPUs) produced by semiconductor companies such as NVIDIA and AMD require increasingly more HBM to handle AI workloads. However, the production capacity of the world’s leading HBM manufacturers is currently unable to keep up with demand.
In response, Micron is investing $250 billion to expand HBM production by constructing two new manufacturing complexes. Construction on the largest of these facilities began last January in Clay, New York, while the first new fab being built in Boise, Idaho, is scheduled to begin operations next year. Leading HBM manufacturers #SK Hynix and #Samsung Electronics are also expanding their large-scale HBM production facilities in South Korea.
Although Micron has the lowest HBM market share among the three companies, its market capitalization has already surpassed $1.2 trillion, driven by the AI boom. CEO Mehrotra attended an AI regulation summit hosted by U.S. President Donald Trump on the 30th. Prior to that, he also attended a White House dinner attended by Chinese President Xi Jinping, who was visiting the U.S. for the first time in over a decade.