Watch for Q1 2027 results in December to see if the AI-driven memory demand sustains the 13% QoQ revenue growth implied by guidance. The massive beat and raised guidance reinforce the AI memory thesis, but the stock's historical post-earnings drift has been negative despite strong results.
Price Chart
Executive Summary
Micron reported a massive beat for fiscal Q4 2026, with non-GAAP EPS of $33.42 (5.0% above $31.82 consensus) and revenue of $54.23B (5.4% above $51.47B consensus). The company also guided Q1 2027 revenue to $61.5B ± $1.5B and EPS to $38.15 ± $1.00, implying continued strong growth driven by AI memory demand.
Key Financial Metrics
Key Facts
- Non-GAAP diluted EPS of $33.42 vs consensus $31.82 (5.0% beat)
- Revenue of $54.23B vs consensus $51.47B (5.4% beat)
- Revenue YoY growth: 379% ($11.32B → $54.23B)
- GAAP net income $37.70B vs $3.20B in prior year
- Operating cash flow $43.97B vs $5.73B in prior year
- Q1 2027 guidance: revenue $61.5B ± $1.5B, non-GAAP EPS $38.15 ± $1.00
- Cloud Memory BU revenue $16.28B (up 258% YoY), Core Data Center BU $18.00B (up 1,041% YoY)
- Quarterly dividend maintained at $0.15 per share
Financial Impact
Revenue beat of ~$2.76B (5.4%) and EPS beat of $1.60 (5.0%) vs consensus; guidance implies Q1 revenue of ~$61.5B, up ~13% QoQ
Risk Factors
- Guidance implies QoQ revenue growth deceleration from ~31% (Q3→Q4) to ~13% (Q4→Q1), which could disappoint if expectations are higher
- Customer contract liabilities of $12.9B on balance sheet represent committed revenue but also create concentration risk with large AI customers
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3372366 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Insider Cluster | $913.67 | awaiting T+60 | — | $928.76 (−1.65%) |
Oct 19, 2026 8d ago | Press Release | $904.90 | awaiting T+60 | — | $928.76 (+2.64%) |
Oct 16, 2026 11d ago | Institutional Cluster | $904.90 | awaiting T+60 | — | $928.76 (+2.64%) |
Oct 12, 2026 15d ago | Institutional Cluster | $988.88 | awaiting T+60 | — | $928.76 (−6.08%) |
Sep 30, 2026 27d ago | Press Release | $1,097.39 | awaiting T+60 | — | $928.76 (−15.37%) |
Sep 2, 2026 7w ago | Court Ruling | $955.73 | awaiting T+60 | — | $928.76 (−2.82%) |
Aug 28, 2026 8w ago | Insider Cluster | $958.73 | awaiting T+60 | — | $928.76 (−3.13%) |
Aug 26, 2026 8w ago | 8-K | $938.40 | awaiting T+60 | — | $928.76 (−1.03%) |
Aug 25, 2026 8w ago | Insider Cluster | $938.40 | awaiting T+60 | — | $928.76 (−1.03%) |
Aug 14, 2026 10w ago | ANALYST-UPGRADE | $971.66 | awaiting T+60 | — | $928.76 (−4.42%) |
US Market Status
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