In November 2025, Micron continued to post strong results, with its technical edge and market positioning in DRAM and high-bandwidth memory (HBM) drawing investor attention.
On the technology front, the company has begun volume sampling of HBM4, delivering bandwidth above 2.8 TB/s and pin rates exceeding 11 Gbps—highlighting leadership in memory for advanced AI inference and training servers.
At the same time, Micron is pushing forward across multiple product lines, including the 1-Gamma DRAM process, G9 NAND flash, and PCIe Gen 6 SSDs—signaling a roadmap that targets higher performance, lower power, and greater bandwidth.
On the market side, the AI infrastructure boom is driving a surge in demand for HBM and server-grade DRAM. Micron’s data-center business accounted for roughly 56% of fiscal-year 2025 revenue. DRAM prices have begun to rise, with PC DRAM contract prices in Q4 expected to increase by about 25%–30% quarter over quarter—supporting Micron’s share price.
From a profitability perspective, Micron’s fiscal Q4 2025 revenue reached roughly $11.32 billion, up about 46% year over year. Gross margin improved to about 45.7%. According to available figures, Micron’s latest TTM (trailing twelve months) net income in 2025 climbed to approximately $8.54 billion.
Market take:
Looking ahead, Micron sits at a pivotal intersection of technology and market demand. Into 2026, DRAM and HBM supply is likely to remain tight, supporting pricing and margins. That said, investors should watch for potential headwinds from an industry cycle turn, elevated capital expenditures, geopolitical risks, and process-technology execution.
