Micron delivered record fiscal Q4 2026 results on September 30, with revenue surging 379% year-over-year to $54.23 billion and non-GAAP EPS of $33.42, both exceeding consensus, while guiding Q1 FY2027 revenue to $61.5 billion and EPS near $38.15—well above prior estimates—on sustained AI-driven DRAM and HBM demand plus $32 billion in customer commitments. Shares nonetheless retreated sharply during the week of October 12, closing near $931 after trading above $1,000 earlier in the period, reflecting multiple compression concerns, memory-cycle volatility fears, and broader tech sentiment despite a forward P/E around 7x and an authorized $35 billion buyback. Traders are weighing these durable fundamentals and supply constraints through 2027 against near-term price normalization risks and upcoming quarterly updates.