Micron Technology reported its strongest quarter on record. Fiscal fourth-quarter revenue rose 379% year over year to $54.23 billion, driven by surging demand for memory chips used in AI systems. Earnings per share reached $33.42, exceeding analyst expectations. The company also issued strong guidance for the upcoming quarter.
Despite the results, Micron shares remain more than 20% below their recent peak. The decline reflects broader market fatigue and sector-wide concerns, rather than weak company performance. Investors are questioning whether massive AI spending can continue and taking profits.
Negative sentiment intensified after competitor Samsung missed net profit expectations, weighing on the semiconductor industry.