Shares of Micron Technology surged more than 14 percent in trading on Thursday after the Boise, Idaho-based semiconductor maker delivered blowout fiscal fourth-quarter financial results and projected record first-quarter revenue that crushed Wall Street expectations, underscoring the enduring strength of the generative artificial intelligence boom.
For the three months ending August 29, Micron reported fiscal fourth-quarter revenue of $7.75 billion, representing an astounding 93 percent surge compared to the $4.01 billion recorded in the prior-year period. Adjusted earnings per share reached $1.18, easily beating the consensus forecast of $1.11 as pricing for both dynamic random-access memory (DRAM) and NAND flash memory strengthened across the board.
Explosive Revenue Growth and Robust Margins
Even more impressive to institutional investors was Micron's forward-looking guidance. For its fiscal first quarter of 2025, the company projected revenue of approximately $8.70 billion, well ahead of the $8.28 billion estimated by analysts. If realized, the figure would mark the highest quarterly revenue in the company's 46-year corporate history.
At the heart of Micron's operational renaissance is its cutting-edge 12-layer and 8-layer High Bandwidth Memory (HBM3E), a mission-critical component packaged directly alongside high-performance graphics processing units such as Nvidia's H200 and upcoming Blackwell architectures. Micron confirmed that its entire HBM production capacity for both calendar 2024 and calendar 2025 is already completely sold out under firm contracted pricing.
“Micron delivered 93% year-over-year revenue growth in Q4 as robust AI demand drove a powerful ramp of our leading-edge High Bandwidth Memory products across data center customers.”
Sold-Out HBM3E Supply Bolsters 2025 AI Outlook
Chief Executive Sanjay Mehrotra highlighted that data center demand remains exceptionally robust, with cloud hyperscalers dramatically expanding capital expenditures to support artificial intelligence training and real-time inferencing clusters. Gross margins expanded to 36.5 percent in the quarter, reflecting favorable supply-demand dynamics and superior manufacturing yields.
The upbeat report reversed weeks of tech sector volatility, sparking a broad rally across global semiconductor equities including Nvidia, AMD, ASML, and Applied Materials. Analysts widely interpreted Micron's guidance as definitive validation that the broader artificial intelligence infrastructure buildout remains in an accelerating secular growth phase.
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