Micron's fiscal 2026 soars; HBM4 deal with Nvidia fuels growth
Micron Technology reported a blockbuster fiscal 2026: revenue of $133.2 billion, up 256% year over year, and non-GAAP earnings of $74.33 per share versus $7.59 the prior year. The company’s market value reached roughly $1.1 trillion in about 18 months. Fiscal Q4 revenue was $54.23 billion, up 31% sequentially and 379% year over year, with non-GAAP EPS of $33.42 and a fiscal-year gross margin of 81.1% (a 40-percentage-point increase). DRAM revenue topped $100 billion for the year and Q4 DRAM sales rose 343% year over year. Micron announced a custom HBM4E implementation built for Nvidia’s next-generation GPUs, aligning it with Nvidia’s roadmap. Management is expanding capacity — a second Idaho fab and a New York fab (ground broken in January) — backed by more than $6 billion in CHIPS Act funding, and guides fiscal-Q1 2027 revenue of $60–63 billion.
Micron's explosive revenue and HBM4 partnership with Nvidia confirm AI infrastructure demand is still surging, which lifts global tech risk appetite and sentiment toward high-beta risk assets; crypto, as a risk asset, may benefit indirectly, though no direct capital flow is confirmed yet, so short-term bullish (weak).