Micron Technology designs and manufactures memory and storage products, including DRAM, NAND, and NOR flash. These products power devices across computing, networking, automotive, industrial, and mobile markets. The company sells to OEMs, distributors, and end users worldwide and funds ongoing research and development to meet evolving needs. Micron aims to provide scalable memory solutions and maintain an inclusive, growth‑oriented workplace for its employees.
Company Size
10,001+
Company Stage
IPO
Headquarters
Boise, Idaho
Founded
1978
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Micron Technology reported record fourth-quarter results for fiscal 2026, with revenue surging 379% year-over-year to $54.23 billion and adjusted earnings per share of $33.42, beating analyst estimates of $31.83. Full-year fiscal 2026 revenue reached $133.19 billion, up from $37.38 billion the previous year. The memory chipmaker forecast first-quarter fiscal 2027 revenue of approximately $61.5 billion, significantly exceeding consensus estimates of $56.8 billion. Adjusted gross margins reached 87.0% in Q4, driven by higher selling prices amid industry-wide supply constraints. However, Micron shares dropped after hours following the announcement of increased capital expenditures for fiscal 2027. The company plans to boost spending on cleanroom construction to accelerate capacity expansion, with capex expected to reach around $25 billion in the first half of fiscal 2027.
Micron reported fourth-quarter earnings that beat Wall Street expectations on both revenue and earnings per share. The memory chip maker posted EPS of $33.42 on revenue of $54.23 billion, surpassing analyst estimates of $31.83 and $51.49 billion respectively. The company also provided strong guidance for its first quarter, projecting revenue between $60 billion and $63 billion, well above the $56.77 billion analysts anticipated. Micron's performance has been driven by surging demand for memory chips used in AI applications. Data centres require substantial amounts of DRAM and flash storage for AI processors, both of which Micron produces. The company's shares have risen approximately 275% year to date and 550% over the past 12 months.
US stock index futures traded near flat on Wednesday as investors awaited key inflation data and semiconductor earnings. The personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, is due later today and expected to show inflation remaining above the central bank's 2% target. Boeing surged 3% in premarket trading after winning a contract worth over $20 billion to develop the US Navy's next-generation carrier-based strike fighter, the F/A-XX. The award beat rival Northrop Grumman and marks Boeing's second consecutive sixth-generation fighter programme win. Concentrix plunged 11.1% after reporting disappointing revenue and guidance. The company forecast fourth-quarter revenue to decline 3% to 5%, citing faster-than-expected AI automation among clients.
Micron Technology is investing heavily in artificial intelligence memory production as demand for high-bandwidth memory surges. In its fiscal 2026 third quarter ended May 28, the company reported $41.5 billion in revenue, up from $9.3 billion a year earlier. The chip maker announced plans to invest more than $250 billion in US manufacturing through 2035, including new facilities in New York and Idaho. Its first Idaho factory is expected to begin producing wafers in mid-2027. Micron also launched a $10 billion research initiative and a $250 million venture fund focused on emerging technologies. Bank of America's most bullish analyst projects the company's earnings per share could reach $230 by 2030, suggesting significant growth potential from its current trading price near $1,054.
JPMorgan has reiterated its Overweight rating on Micron Technology with a $1,540 price target ahead of the company's fiscal Q4 earnings report on 30 September. The firm says pricing momentum held through the quarter despite earlier warnings of moderation, and expects results to exceed consensus estimates. Micron has beaten earnings estimates for seven consecutive quarters. In Q3, revenue reached $41.46 billion, up 346% year-over-year, with non-GAAP earnings per share of $25.11. The company has signed 16 multi-year Strategic Customer Agreements worth approximately $100 billion in minimum revenue. Of 21 analysts covering Micron, 20 rate it a buy or strong buy. The stock trades near $1,072, up 275% year-to-date, making it the fourth-best S&P 500 performer.