Micron Technology will report fiscal fourth-quarter earnings Wednesday, with adjusted gross margins expected to hit a record of approximately 86%, while the stock still trades at one of the lowest earnings multiples in the S&P 500. Analysts surveyed by LSEG forecast earnings of $31.61 per share on revenue of $51.07 billion. The company has signed 16 strategic customer agreements covering DRAM, HBM and NAND with binding multi-year purchase commitments including price floors and ceilings, targeting more than half of revenue eventually under such agreements. Investors will focus on fiscal 2027 outlook, particularly the durability of current margins, HBM4 and HBM4E demand expectations, and the supply-demand balance in a memory market still tightened by artificial intelligence infrastructure growth.
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