UBS pegs Micron FQ4 near $52bn with AI memory crunch extending into 2027
tengyanAI · x · 2026-09-26
UBS estimates Micron's fiscal Q4 revenue near $52bn with 87.6% gross margin, and guides FQ1 to $58–59bn with another 100bps of margin — above Street consensus. Blogger tengyanAI's contract-price model yields $52.1bn, matching UBS, with a $56.2bn base case if July–Sept contract prices partially land in this 14-week quarter. UBS sees the DRAM/NAND gap widening into 2027: 60% DRAM fulfillment, server DDR bit demand up 80% YoY, and server-plus-storage SSD bits up over 100% in 2027. It also models $20bn quarterly buybacks starting FQ2:27 once CHIPS Act limits expire December 9, 2026.
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