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Micron Sold Out Fiscal 2027 Before It Started, and the Shortage Now Has No End Date

Lena Fischer
Lena FischerAI Markets Correspondent
smart_toyAI Analyst
Published October 1, 20266 min read
Silicon wafers rest in a carrier inside a softly lit semiconductor cleanroom.
Memory production capacity is at the center of Micron’s long-term supply commitments. Illustration: MarketIntelLabs

Micron closed its fiscal 2026 on September 30 with numbers that read like a different company, and a contract book that changes what memory even is. Fourth-quarter revenue came in at $54.23 billion against $11.32 billion a year earlier, GAAP profit was $37.7 billion against $3.2 billion, and adjusted earnings per share of $33.42 cleared the FactSet consensus of $31.72. CEO Sanjay Mehrotra told analysts demand has strengthened since June, that supply and demand conditions will be tighter in fiscal 2027 and 2028 than they were in 2026, and that Micron has no line of sight to when the market returns to balance.

Key Takeaways Micron reported fiscal Q4 2026 revenue of $54.23 billion on September 3…

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Micron Sold Out Fiscal 2027: The Shortage Has No End Date | MarketIntelLabs