Overview

• Fiscal Q4 revenue rose 46% year over year to $11.32 billion with adjusted EPS of $3.03, topping consensus.
• Micron guided fiscal Q1 revenue to about $12.5 billion plus or minus $300 million and projected an adjusted gross margin near 51.5%.
• HBM revenue reached nearly $2 billion in the quarter, implying an annualized run rate of roughly $8 billion, as AI buildouts drive demand.
• Shares gained more than 2% after hours and are up nearly 100% in 2025 as investors bet on sustained AI infrastructure spending.
• Micron supplies HBM for some Nvidia chips and is vying with SK Hynix and Samsung; analysts raised targets such as $180–$200, though some warn about potential DRAM oversupply and execution risks.