Fiscal fourth-quarter revenue for Micron reached $54.23B on adjusted earnings of $33.42 per share, beating consensus estimates of roughly $51.49B and $31.83, respectively. The company projects adjusted revenue between $60B and $63B for the first quarter of fiscal 2027, surpassing the $56.77B forecast, with adjusted earnings per share between $37.15 and $39.15. Growth was led by cloud memory revenue of $16.28B and automotive and embedded revenue of $6.82B, which significantly exceeded the $4.73B estimate.

CEO Sanjay Mehrotra expects fiscal 2027 to be another record year, noting that memory and storage supply conditions will be "much tighter" in 2027 and 2028 than in 2026. To mitigate shortages, Micron secured 26 strategic customer agreements that cover more than 35% of revenue through 2030, backed by $32B in financial commitments, mostly cash deposits. The performance arrives after Micron contributed 51% of the S&P 500's total earnings growth this year, while high traffic caused the company's investor relations site to crash following the release.