MU Q4 Earnings Call Points to Tighter Supply and Higher Investment

Micron Technology reported better-than-expected Q4 FY2026 earnings with $54.23B in revenue and $33.42 non-GAAP EPS. Management expects supply constraints in DRAM and NAND markets through calendar 2028, with 26 strategic customer agreements covering 35% of revenues through 2030. The company is increasing capital expenditures to $25B in H1 FY2027 to expand capacity, and guides FY1 Q1 2027 revenues of $61.5B with 86.25% gross margin.