Micron beats on earnings and issues strong guidance as global memory shortage continues

Micron Technology CEO Sanjay Mehrotra arrives near the White House ahead of a planned meeting with US President Donald Trump, in Washington, DC, on Sept. 29, 2026.Oliver Contreras | AFP | Getty ImagesMicron reported better-than-expected quarterly results on Wednesday as the memory maker continues to benefit from soaring demand for AI infrastructure. Here's how the company did relative to LSEG consensus: Earnings per share: $33.42 adjusted vs. $31.61 expectedRevenue: $54.23 billion vs. $51.07 billion expectedRevenue almost quadrupled in the fiscal fourth quarter from $11.32 billion a year earlier, according to a statement.Micron's stock has soared more than 500% in the past year, benefiting from a worldwide supply crunch caused by historic levels of demand for memory chips needed for artificial intelligence models and workloads. The shortage has led to a spike in memory costs and resulted in increased prices for consumer electronics like Apple's iPads and MacBooks.Micron is the only U.S.-based maker of high-bandwidth memory, HBM, made up of stacks of general-purpose dynamic random-access memory, or DRAM.Advanced graphics and central processors from chip giants like Nvidia and AMD ne...