Micron closed its 2025 fiscal year on August 28 with revenue of $37.38 billion, up from $25.11 billion a year earlier, driven primarily by booming demand for high-bandwidth memory (HBM) chips in AI applications. Adjusted earnings per share rose to $8.29, compared with $1.30 in fiscal 2024, reflecting both strong pricing power and improved gross margins that exceeded 45 percent. The company’s share price climbed 239.1 percent over the calendar year, outperforming the broader market by over 200 percentage points.

In the quarter ended November 27, Micron delivered revenue of $13.64 billion, a 56.6 percent year-over-year increase, and adjusted earnings per share of $4.78, up 167 percent versus the prior year. Management announced that all HBM production capacity is fully committed through the end of 2026, and outlined plans to exit the consumer DRAM and NAND markets to concentrate on enterprise and data-center segments, where unit pricing remains at multi-year highs.

Through mid-January 2026, Micron’s stock has gained an additional 27.1 percent, compared with single-digit gains in major indexes. The company forecasts it will meet only 60 percent of global AI memory chip demand this year, underscoring persistent supply tightness. Investor focus has also centered on Micron’s recent announcements of a new fabrication plant in New York and strategic partnerships aimed at scaling capacity rapidly to capture the unmet portion of the AI memory market.

On January 17, Micron signed an exclusive letter of intent to acquire Powerchip Semiconductor’s P5 fabrication facility in Tongluo, Taiwan, for $1.8 billion. The site includes a 300,000 square-foot, 300 mm cleanroom and is expected to close by the second quarter of 2026, pending regulatory approvals. Micron plans to phase in DRAM wafer output beginning in the second half of 2027, leveraging proximity to its existing Taichung operations to drive synergies and meet surging enterprise memory demand.