Micron Reports FY25 Revenue Surge, Strong Q1 Guidance

Micron reported FY25 results on Sept. 23, 2025, posting revenue of $37.4 billion (about 50% YoY), with its data-center business comprising 56% of revenue and delivering roughly 52% gross margins. The company said HBM sales were nearly $2 billion and issued upbeat fiscal Q1 guidance of EPS $3.60–$3.90 and revenue $12.2–$12.8 billion, beating Street estimates. Citi raised its price target to $200 and the shares have run roughly 80% year-to-date, trading around $167 in the latest session with a market capitalization near $176 billion. Micron reported about $10–11 billion in cash against $6–7 billion of debt, underlining disciplined capex and a strong balance sheet that supports growth plans. Bullish scenarios project revenue near $40 billion in FY26 and EPS above $12 if margins hold, but the outlook depends on HBM yield execution, product-mix improvements and capex efficiency. Analysts warn that memory-industry cyclicality and lofty expectations could cause volatility if execution falters.