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Micron Technology (MU)

Micron makes DRAM, high-bandwidth memory and NAND flash, and it guided fiscal Q1 2027 revenue to $61.5B after a $54.23B fiscal Q4.

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Information and analysis only, not a recommendation to buy, sell or hold any security. The author may own securities discussed.

Researched and drafted with AI agents. Every figure is taken from a source cited on the page.

Analysis and information

What it does

Micron Technology makes memory and storage chips. Its products include DRAM, high-bandwidth memory (HBM) for AI processors, and NAND flash used in solid-state drives. It reports four business units: Cloud Memory, Core Data Center, Mobile and Client, and Automotive and Embedded. It is based in Boise, Idaho.

Role in the theme

In the Memory and storage theme, Micron is the US-listed maker of DRAM and HBM. It also makes data center SSDs, and it names replacing hard drives as one way that market is growing.

Latest

  • 2026-10-21: Micron and its union in Taichung, Taiwan, signed an agreement and called off a mediation session set for the next day. The terms were not made public. A separate dispute with a union in Taoyuan was not resolved.
  • 2026-09-30: Fiscal Q4 2026 (ended 2026-09-03) revenue was $54.23B, up from $41.46B in Q3 and $11.32B a year earlier. GAAP gross margin was 86.8%. Fiscal 2026 revenue was $133.19B, up from $37.38B.
  • 2026-09-30: Guidance for fiscal Q1 2027 is revenue of $61.5B, plus or minus $1.5B, with gross margin of about 86%.
  • 2026-09-30: Micron has signed 26 multi-year take-or-pay customer agreements. It estimates they cover over 35% of its revenue through 2030. Customer financial commitments under them rose to $32B, mostly cash deposits.
  • 2026-09-30: Micron has agreements for the vast majority of its calendar 2027 HBM supply. Data center SSD revenue was nearly $10B in fiscal Q4.

What to watch

  • Supply. Micron expects memory and storage supply to be "much tighter" in calendar 2027 and 2028 than in 2026.
  • Capital spending. Micron plans about $11.5B of capex in fiscal Q1 and about $25B in the first half of fiscal 2027. It expects more in the second half.
  • Contract prices. TrendForce forecasts Q4 2026 contract prices up 10-15% for conventional DRAM and 15-20% for NAND from Q3. It expects the pace of increases to moderate.
  • Labor talks with the Taoyuan union.
  • Next report: fiscal Q1 2027 results. The date is not announced (not confirmed).

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Sources

Primary means the publisher of the data or the filing; secondary means press or an aggregator.