Micron Technology(US:MU) 半导体芯闻·2025-09-25 10:21Core Viewpoint - Micron Technology's announcement regarding its HBM4 (High Bandwidth Memory) has disrupted the global semiconductor industry, revealing that it has achieved the highest speed in the industry, contrary to market expectations that it would lag behind competitors SK Hynix and Samsung Electronics [1][2]. Group 1: Financial Performance - Micron reported a 46% year-over-year revenue increase for Q4 (June-August), reaching $11.5 billion (approximately 15.79 trillion KRW) [1]. - Operating profit surged by 126.6% to $4.5 billion (approximately 5.52 trillion KRW), exceeding market expectations [1]. - Adjusted earnings per share were $3.03, with an operating margin of 35% [1]. Group 2: Business Segments - Revenue from cloud virtual server memory sales increased significantly by 213.6%, reaching $4.543 billion [1]. - HBM sales for the June-August period amounted to $2 billion, with annual sales projected at $8 billion [1]. - The number of HBM customers expanded to six, driven by the growth in AI data centers and high-performance server memory demand [1]. Group 3: HBM4 Development - Micron announced the delivery of HBM4 samples to customers, achieving an industry-leading speed of 11 Gbps [1]. - Despite previous concerns about not meeting NVIDIA's speed requirements, Micron's CEO stated readiness for a product that exceeds 11 Gbps with optimal power efficiency [2]. - HBM4 is set to begin mass production in Q2 of next year, with full-scale production expected in the second half of the year [2]. Group 4: Competitive Landscape - The competition in the HBM4 market is evolving from a two-way rivalry between SK Hynix and Samsung to a three-way competition including Micron, intensifying the competitive dynamics [2]. - Analysts suggest that if Micron's claims are accurate, it may shift its focus from low power consumption to speed enhancement [2].