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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Elon Musk said China can often scale a product it has mastered beyond the rest of the world combined, but advanced memory "will be harder to solve." He cited lithium batteries and solar, and called SpaceX a rare exception. His comments on X came as memory stocks slid. The selloff erased a combined $108 billion from the market values of Micron, SK Hynix, and SanDisk after ChangXin Memory Technologies (CXMT) reported chip-design advances. Musk said low-power memory for phones and laptops follows a common standard that China "seems to be solving fast." High-bandwidth memory and stacked designs are tougher. TrendForce data put CXMT's share of global DRAM revenue at 9.5% in the second quarter, up from 7.6% in the first. Micron fell 3.88% to $989.04 on Monday and lost another 1.40% after hours.
Micron Technology posted fiscal fourth-quarter revenue of $54.2 billion, up from $11.3 billion a year earlier. Earnings per share rose to $32.9 from $2.8. The chipmaker expects first-quarter fiscal 2027 revenue of about $61.5 billion and earnings of about $37.80 per share. Management also said memory and storage supply-demand conditions should be "much tighter" in fiscal 2027 and 2028 than in 2026. Micron links the outlook to demand for AI memory, and plans to invest more than $250 billion in US manufacturing through 2035. Its non-GAAP (generally accepted accounting principles) gross margin hit 87%, and it expects about 86.3% next quarter. Memory has long been cyclical, so the forecast is not guaranteed. Gross margin is the figure to watch.
Micron Technology stock returned 424.1% in the twelve months to October 9, 2026, driven by a shortage of memory chips. Servers running artificial intelligence workloads are a major source of demand. Early signs were visible. On December 18, 2024, executives called Micron a pioneering supplier of LP memory to the data centre, almost ten months before the rally began on October 8, 2025. Fiscal 2025 revenue rose nearly 50% to a record $37.4 billion, and gross margin grew 17 percentage points to 41%. Revenue in the latest quarter reached $54.2 billion, up 379.3% from a year earlier. Executives expect the memory market to stay tight through 2028. Peers also surged: Western Digital returned 228.5% and Intel 179.7%, against 17.0% for the S&P 500.
Memory stocks fell after China's ChangXin Memory Technologies (CXMT) said it made significant progress on a denser chip cell design. CXMT, which is not listed in the US, aims to launch a server memory product built on it by the end of this year, its president Cao Kanyu said at an industry event in Shanghai. Micron fell 4% to $984.28, though it is still up 245% year to date. SK Hynix also dropped 4% to $162.13, and Western Digital fell 2% to $389.04. The Roundhill Memory ETF slid 4% to $54.75, while the SPDR S&P 500 ETF Trust held flat. Server memory is the industry's most profitable segment. Micron's adjusted gross margin hit 87% last quarter, up from 45.7% a year earlier.
Micron Technology's shares have risen more than 260% this year, driven by tight DRAM supply and soaring demand for memory chips used in artificial intelligence (AI). In the fourth quarter of fiscal 2026, DRAM revenue reached $39.8 billion, about 73% of total sales, and non-GAAP gross margin rose to 87.0%. The company has signed 26 take-or-pay Strategic Customer Agreements, which management expects to account for more than 35% of revenue through 2030. Customer financial commitments tied to them total $32 billion. For the first quarter of fiscal 2027, Micron expects revenue of $61.5 billion, plus or minus $1.5 billion, and earnings of $38.15 per share, plus or minus $1. The stock closed at $1,029, a 22% discount to its June 25 high. It trades at a forward price-to-earnings multiple of 5.87, against an industry average of 20.05.