Micron Technology (NASDAQ: MU) Reports Record Q4 as AI Demand Drives Memory Growth

• Micron Technology (NASDAQ: MU) received an Outperform rating from Wedbush, with a $1,400 price target, supported by strong AI-related memory demand.
• The company reported record fiscal Q4 revenue of $54.23 billion, GAAP net income of $37.70 billion, and GAAP earnings per share of $32.87.
• Demand for High-Bandwidth Memory (HBM), DRAM, NAND, and data center storage helped drive results, with management expecting tight supply-demand conditions through 2027–2028.

Wedbush reiterated its Outperform rating on Micron Technology (NASDAQ: MU) and set a $1,400 price target after the company’s latest quarterly results. Wedbush cited Micron’s strong AI-related demand and tight memory supply outlook as key reasons for its bullish view.

Micron delivered a record fiscal fourth quarter. Revenue reached $54.23 billion, up from $11.32 billion in the same quarter last year. GAAP net income rose to $37.70 billion, or $32.87 per diluted share, while non-GAAP EPS reached $33.42.

The strong performance was driven by AI demand, higher memory pricing, and growth in data center products. Micron said its Core Data Center Business Unit generated $18.0 billion in revenue, while data center SSD revenue was nearly $10 billion, more than 10 times the year-ago level.

Looking ahead, Micron guided for fiscal Q1 2027 revenue of $61.5 billion, plus or minus $1.5 billion, and non-GAAP EPS of $38.15, plus or minus $1.00. Management also expects memory and storage supply-demand conditions to remain tighter in 2027 and 2028, which could support pricing and margins if demand continues.