TREE NEWS reports: Micron reported fourth-quarter revenue of $54.2 billion, up 379% year over year and 31% quarter over quarter, with gross margin of 87% and non-GAAP EPS of $33.42, beating the high end of guidance. For fiscal 2026, total revenue reached $133.2 billion, up 256%, gross margin was 81.1% and EPS $75.52, with annual DRAM revenue surpassing $100 billion for the first time. The company also raised fiscal 2026 employee incentive compensation.
Micron Q4 Revenue Hits $54.2B, Up 379% YoY; DRAM Tops $100B
AI take
The scale of the beat, not just the growth rate, is the signal: 87% gross margin on a memory business implies pricing power that historically belonged to logic, not DRAM. That matters for anyone modeling AI infrastructure costs, since memory has quietly become a larger share of the bill of materials. The raised employee incentive compensation suggests management expects this margin structure to persist rather than mean-revert. Whether DRAM pricing holds as capacity expands is the open question.
Generated by AI for reference only.
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