“As strong as fiscal 2026 was, we expect fiscal 2027 to be even better,” said Micron (MU) CEO Sanjay Mehrotra. “Industry demand has strengthened since our last earnings call, and we expect memory and storage supply-demand conditions to be much tighter in fiscal 2027 and 2028 than they were in 2026.”
Micron reported fiscal fourth quarter adjusted EPS of $33.42 versus forecasts for $33.61. Revenue of $54.23 billion topped estimates of $51.1 billion.
First quarter 2027 revenue is seen at $61.5 billion versus forecasts of $57 billion. EPS is seen at $38.15 versus estimates of $35.40.
Shares are up 1.1% in after-hours trading.
“Those betting against ‘the house’ keep winning,” wrote Jeff Gundlach.
The 10-year Treasury yield rose to 5.30% on Wednesday, its highest level since 2002.
The 30-year yield rose to 5.65%, also a 24-year high.
Both yields were lower earlier after pleasing U.S. August inflation data, but the respite didn’t last long before bond sellers again took control.
Up more than 1% earlier, the Nasdaq was higher by just 0.25% at the close, with the S&P 500 and DJIA moving into the red.
Also up sharply following the inflation data, bitcoin has sold off since, now sitting at $83,500, down 0.4% over the past 24 hours.
Assuming a close today somewhere around $84,000, bitcoin BTC$83.428,99 will end the third quarter with about a 44% gain, its best quarterly result since the first three months of 2024 when it rose 68.7%, according to Coinglass.
This quarter’s advance, of course, comes after three consecutive down quarters.
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