- Will Micron Q1 adjusted gross margin be below 82.5%?3¢
- Will Micron Q1 adjusted gross margin be between 82.5% and 85%?17¢
- Will Micron Q1 adjusted gross margin be between 85% and 87.5%?57¢
- Will Micron Q1 adjusted gross margin be between 87.5% and 90%?13¢
- Will Micron Q1 adjusted gross margin be between 90% and 92.5%?6¢
- Will Micron Q1 adjusted gross margin be above 92.5%?3¢
Micron’s official non-GAAP gross margin guidance of approximately 86.25% for fiscal Q1 2027 anchors trader expectations in the 85–87.5% range. This follows Q4’s 87.0% result and reflects a modest sequential step-down from higher-cost inventory tied to manufacturing incentives recorded in the prior quarter. Management explicitly called Q1 the floor for the fiscal year, citing sustained pricing power from tight DRAM and NAND supply, strong AI-driven demand for HBM and data-center products, and long-term strategic customer agreements with price floors. Recent earnings commentary highlighted that most calendar 2027 HBM supply is already contracted at higher year-over-year prices, helping narrow margin gaps with conventional memory. With the quarter now underway and results due in roughly two months, the market-implied distribution centers on the company’s stated outlook while allowing room for minor beats or misses driven by mix or cost timing.
Rules
This market will resolve according to Micron's announced adjusted gross margin (non-GAAP, as a percentage of revenue) for the first fiscal quarter of 2027, as reported in its official company earnings materials. The specified metric will be considered as reported in the company's official earnings materials. Subsequent revisions will not be considered. If the specified company's official earnings materials for the specified quarter are released, and the specified metric is not included, this market will resolve to the lowest bracket. If the specified company does not release quarterly earnings materials for the specified quarter by January 31, 2027, 11:59 PM ET, this market will resolve to the lowest bracket. If the reported value falls exactly between two brackets, this market will resolve to the higher range bracket. If the specified metric is reported as a range rather than a specific number, the midpoint of the range will be used for resolution of this market. The resolution source for this market is Micron's official company earnings materials, including press releases, investor presentations, and regulatory filings. If the specified metric is not reported in these materials, recordings or transcripts of the company's earnings webcast may also be used. Note: This market will resolve based on the most numerically precise version of the specified metric reported in the company's official earnings materials. Only the specified metric will be considered; alternate versions that differ in definition or scope from the specified metric will not be considered.