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Micron: record FY2026 results keep AI memory capacity in focus

Micron reported fiscal Q4 2026 revenue of $54.23 billion and full-year revenue of $133.19 billion, alongside $27.37 billion of full-year capital expenditure; its HBM4 36GB 12H product has been in high-volume production since the first quarter of calendar 2026.

Company: Micron Technology (MU)High confidenceReview complete

Evidence snapshot

What the evidence says

Short answer: Micron reported fiscal Q4 2026 revenue of $54.23 billion and full-year revenue of $133.19 billion, alongside $27.37 billion of full-year capital expenditure; its HBM4 36GB 12H product has been in high-volume production since the first quarter of calendar 2026.

Research as of
2026-10-01
Confidence
High
Primary sources
2

Use the dated primary-source trail below for time-sensitive claims. Reported evidence and public interpretation are kept separate.

Change record

What changed

  • Fiscal Q4 2026 revenue reached $54.23 billion versus $41.46 billion in the prior quarter, while full-year revenue reached $133.19 billion.
  • Micron reported $27.37 billion of fiscal 2026 capital expenditure, a useful capacity-build indicator rather than a direct measure of HBM availability.
  • The current HBM supplier-role evidence remains anchored by Micron's March disclosure that HBM4 36GB 12H entered high-volume production for NVIDIA Vera Rubin.

Public interpretation

Why it matters

The new financial results reinforce the scale of the AI-memory investment cycle, while the HBM4 production evidence keeps Micron directly relevant to the advanced-packaging and HBM map. Revenue growth and capex do not by themselves prove a current HBM shortage.

Primary-source trail

Evidence