Micron Technology raised its fiscal fourth-quarter guidance to $50 billion in revenue. The company projects earnings of $30.73 per share, significantly exceeding analyst expectations.
High-bandwidth memory (HBM) chips for AI data centers drive this optimistic outlook. Micron has sold out its entire HBM chip production for the remainder of 2026 and all of 2027.
CEO Sanjay Mehrotra expects tight supply conditions to persist beyond 2027 due to demand across all market segments. This demand grants Micron substantial pricing power, increasing revenue and gross margins across its cloud, data center, and mobile businesses.