Customer financial commitments for memory supply climbed to $32 billion, with a majority of that funding provided via cash deposits. Micron has secured 26 multiyear take or pay agreements that cover more than 35% of its expected revenue through 2030, with some contracts extending into 2031. These strategic arrangements drove remaining performance obligations to roughly $150 billion, up from $100 billion in the previous quarter, while planned capital expenditures for fiscal 2027 are now expected to exceed $50 billion to accelerate clean room availability by 2028.

The company reported fiscal fourth quarter revenue of $54.23 billion, a 379% increase year over year, and expects the first quarter of fiscal 2027 to bring in between $60 billion and $63 billion. Management anticipates that supply and demand for memory and storage will be much tighter in fiscal 2027 and 2028 than they were in 2026. While fiscal first quarter gross margins are projected to be the floor for the coming year, the company forecasts they will trend higher throughout the remainder of fiscal 2027.