Micron now has an 88% margin on consumer memory as price hikes drive profits

What happened

Micron released its fiscal Q4 2026 financial results on Wednesday, expectedly setting another record for revenue with $54.23 billion for the quarter, up nearly five times since the same period last year. Further, Micron's client business was the only one that shipped less memory last quarter, despite bringing in the highest operating margin at 88%. Micron is based in Boise, and its products and services include computer memories.

Micron's consumer business is its most profitable by margin according to the company's fiscal Q4 2026 financial report, despite shipping less memory in the quarter. Micron also hit a record 87% gross margin, the largest contributor to which was Micron's Mobile and Client (consumer) business unit.

The Mobile and Client unit also saw significant growth, with a 29% operating margin in fiscal Q4 2025, and now a margin of 88%. Cloud Memory margins grew, though not to the same extent as other units, moving from 48% to 76%.

Key facts

• Micron — released: its fiscal Q4 2026 financial results on Wednesday, expectedly setting another record for revenue with $54.23 billion for the quarter, up nearly five times since the same period last year