Micron Achieves Record Performance Amid Surging Memory Prices
- Micron reported a record-high revenue of $13.6 billion in its earnings release for the September-November quarter, a growth of 57% YoY.
- Revenues for Samsung and SK hynix are also expected to reach record highs. The memory market is projected to hit $200 billion for the first time ever in 2025 and surpass $400 billion in 2026.
- DRAM memory prices are expected to rise by around 50% QoQ in the fourth quarter, with the upward trend projected to continue through the first half of next year, driven by server demand.
Seoul, Beijing, Berlin, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi, Taipei, Tokyo – December 19, 2025
Micron has reported a record revenue of $13.6 billion for the first quarter of its financial year (September-November), growing 57% YoY and 21% QoQ, according to the company’s earnings release. Since the December portion, where further memory price increases occurred, is not yet reflected in the results, actual revenue for the 2025 calendar year’s fourth quarter (October-December) is expected to increase further. Revenues for Samsung and SK hynix are also expected to reach record highs.
Next year, even in the first quarter (January-March), which is typically an off-season period, memory prices are expected to rise by an additional 20% or more due to supply shortages relative to demand. According to Counterpoint Research’s latest Memory Tracker, memory prices in the fourth quarter are expected to rise by 50% compared to the third quarter, with increased demand for server memory in particular driving the price hikes. Following the surge in prices, companies are increasing their shipment volumes. This year, memory market revenue is projected to surpass $200 billion for the first time, while next year it is expected to double to over $400 billion.
Global Memory Market Size (billion $)
Source: Counterpoint Research Memory Tracker
The price increase, which began with memory shortages caused by the discontinuation of legacy memory (DDR4, LPDDR4) in the first half of the year, has spread to all types of general-purpose DRAM. While set manufacturers using memory are striving to secure inventory, it is a challenging situation due to supply shortages and rising prices.
Senior Analyst Jeongku Choi noted: “The surge in memory prices has surprisingly accelerated, particularly in the fourth quarter, and price hikes are expected to continue through the first half of next year. As server demand remains extremely strong and memory manufacturers are focusing on this area, the shortage of memory for consumer products is expected to continue for the time being. However, as each company stabilizes the processes that were problematic in 2025 and price resistance from buyers is anticipated, the price increase is likely to ease starting from the second half of 2026.”
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Author
Jeongku Choi
Jeongku Choi is a Research Analyst at Counterpoint Research based in Seoul, Korea. As an engineer in LG Electronics, she was responsible for commercializing the latest technologies for new products in mobile and automotive. Also analyzing and strategizing the latest Android technology was one of her roles. Her interests are mobile, mobility, AI, and emerging technologies.