Micron Technology ( MU - Free Report) , a Zacks Rank #1 (Strong Buy) operates through four segments. Its business segments include Computer and Networking Business Unit (CNBU), which includes memory products sold into computers, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture; and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets. Recent Strong Earnings Report On September 26th, MU reported Q4 17 results which easily beat both the Zacks consensus earnings and revenue estimates. In the earnings report, the company produced revenues that showed a +91% increase compared to Q4 16. On a sequential basis, revenues were up +10% with NAND sales volumes up +3%, and DRAM sales volumes improving by +5%. Further, both DRAM and NAND average selling prices for the quarter increased by 8% and 5% respectively. Moreover, gross margins improved by +3.8% to +50.7 when compared to Q3 17 results. Future Outlook During the earnings call, management gave Q1 18 sales guidance of $6.1-6.5 billion which was ahead of Zacks consensus estimate of $6.04 billion. Further, management now expects non-GAAP earnings per share in the range of $2.09-2.23, ahead of the Zacks consensus estimate of $1.83 per share. Management’s Take According to Sanjay Mehrotra, President and CEO, “ Micron delivered exceptional fourth quarter and fiscal year results, reflecting solid execution and robust demand for our memory and storage solutions. We expect healthy industry fundamentals to continue into 2018, supported by increasingly diverse end markets and applications. We believe our focus on accelerating the deployment of advanced technologies and solutions will address our customers' evolving requirements, further strengthen our financial foundation, and enhance shareholder value.” Price and Earnings Consensus Graph As you can see in the graph below, Micron’s stock price and future earnings estimate outlook has been on an upward swing since the middle of 2016.