Micron Technology Q4 2026 Earnings Analysis

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Groups: CHIPS (https://betafinch.com/groups/CHIPS)

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WELCOME TO BETA FINCH, your AI-powered earnings breakdown.

ALEX: Welcome to Beta Finch, your AI-powered earnings breakdown, where we take the numbers and the noise from the latest earnings calls and turn them into something you can actually use. I'm Alex, joined as always by Jordan.

JORDAN: Hey everyone. And we've got a big one today.

ALEX: Before we get into it — this podcast is AI-generated content for educational and entertainment purposes only. Nothing we discuss should be considered investment advice. Always do your own research and consult a qualified financial advisor before making any investment decisions.

JORDAN: With that out of the way, let's talk Micron. Fiscal Q4 2026, and Alex, I don't think "exceptional" even covers it.

ALEX: It really doesn't. Let's start with the full-year picture because it sets the stage. Fiscal 2026 revenue came in at $133.2 billion, up 256% year-over-year. Data center revenue alone was up fourfold. And get this — Micron's DRAM revenue by itself topped $100 billion for the year.

JORDAN: $100 billion from one product category. That's a company-sized number for most chipmakers.

ALEX: Right. And the margins tell the same story. Gross margin expanded to 81.1% for the year, a 40-point jump from fiscal 2025. EPS was up 811% to $75.52.

JORDAN: Eight hundred and eleven percent. Let's zoom into the quarter itself, because Q4 alone was a record-breaker. $54.2 billion in revenue, up 31% sequentially, up 379% year-over-year. That's their sixth straight quarterly revenue record.