Micron Technology advanced following the release of its fiscal fourth-quarter results, which topped consensus estimates on both the top and bottom lines. Driven by accelerating demand for high-bandwidth memory and advanced server modules vital to artificial intelligence data center infrastructure, the company delivered significant revenue expansion and robust gross margins. Management also provided first-quarter guidance well above market expectations, reflecting continued pricing power and tight market supply across high-performance memory products.

Underpinning the positive momentum is increased visibility into multi-year customer commitments. Management indicated that a major portion of production capacity is already committed…