Full Breakdown
Micron Posts Record Revenue as Boise Fab Production Nears
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Core Development
Micron Technology reported a fiscal-2026 revenue of $133.19 billion, more than triple the $37.38 billion recorded the prior year. Fourth-quarter sales rose to $54.23 billion from $11.32 billion a year earlier. The company attributes the surge to AI-driven demand, which is prompting a rapid expansion of its U.S. manufacturing footprint. Central to this effort are two new fabrication plants in Boise, Idaho. The first fab is slated to deliver its inaugural wafer in mid-2027, while the second is expected to follow in late 2028.
Background & Context
Micron’s Boise facilities are being constructed alongside its existing research and development operations, forming part of a broader national push to increase domestic semiconductor capacity. The expansion aligns with industry forecasts that AI applications will substantially raise memory-chip consumption, creating a need for additional production lines in the United States.
Financial Highlights
- Revenue (FY 2026): $133.19 billion
- Quarter-4 revenue: $54.23 billion (vs. $11.32 billion YoY)
- Capital expenditures FY 2026: $27.37 billion
- Cash, marketable investments, restricted cash (end FY 2026): $73.48 billion
- Projected FY 2027 Q1 revenue: approximately $61.5 billion, ±$1.5 billion
These figures underscore Micron’s aggressive investment strategy, with the company forecasting continued growth into the next fiscal year.
Official Outlook
Micron officials state that the first Boise fab remains on schedule for mid-2027 wafer output, and the second plant is on track for late-2028. The firm expects the new capacity to support the rising memory needs of AI workloads and to reinforce its position in the global semiconductor market.
Why It Matters
The imminent activation of the Boise fabs represents a significant step toward reducing U.S. reliance on overseas chip production. By expanding domestic manufacturing, Micron aims to meet the escalating demand from AI technologies while contributing to national supply-chain resilience and job creation in Idaho.