[FLASH] Micron FQ4: record $54.23B revenue, 87% gross margin, FQ1 guide $60.5-61.5B; shares muted after hours
Micron reported fiscal Q4 revenue of $54.23 billion with gross margin near 87% and guided fiscal Q1 revenue to $60.5-61.5 billion, above consensus, with management saying fiscal 2027 will top a record fiscal 2026 on HBM and data-center DRAM demand (SEC exhibit 99.1; CNBC; Seeking Alpha). After-hours trading was muted to slightly lower across feeds despite the beat, a reaction several outlets attribute to positioning after the stock's run into the print. The read-through for the AI-compute complex (NVDA, SNDK, WDC) is that memory pricing and HBM allocation remain tight into 2027; the Oct 1 regular-session reaction is the next tell.