The Motley Fool·21h ago
Stock Market Today, Nov. 6: Micron Technology Jumps as Chip Stocks Rebound From Thursday's RoutNASDAQ · As of 4:00 PM ET 11/06/26
Micron's revenue has expanded roughly eight-fold from $6.8 billion in 2024Q3 to $54.2 billion in 2026Q4 as AI-driven HBM and DDR5 demand drove gross margin to an unprecedented 86.8% and operating margin to 80.7%, while the balance sheet has been fundamentally repaired — total debt fell from $13.9 billion to $4.7…
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Revenue growth has decelerated to 3.8% year-over-year in 2026Q4 despite gross margin surging to 86.8% and operating margin to 80.7%, an outlier spread versus Seagate's 33.6% that may indicate pricing gains are approaching cyclical extremes rather than reflecting a structurally superior model.
Micron's HBM capacity for 2026 is reportedly sold out, driven by insatiable demand for AI computing power.
Q2 FY2026 revenue surged by 196% year-over-year to $23.86 billion, with non-GAAP EPS increasing by 682%.
Micron has secured a five-year Strategic Customer Agreement, ensuring multiyear demand visibility.
The semiconductor memory market is cyclical, and a downturn could lead to oversupply and price erosion.
Micron faces significant competition in the memory chip market, which could impact pricing and market share.
Success relies on the ramp-up of HBM4 production; any delays could negatively affect stock performance.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Sep 30, 2026 | $33.42+5.2% vs $31.77 | $54.2B+5.6% vs $51.3B |
Q3 2026 Jun 24, 2026 | $25.11+19.7% vs $20.98 | $41.5B+15.4% vs $35.9B |
Q2 2026 Mar 18, 2026 | $12.20+32.8% vs $9.19 | $23.9B+19.5% vs $20.0B |
Q4 2025 Dec 17, 2025 | $4.78+20.7% vs $3.96 | $13.6B+5.7% vs $12.9B |
NASDAQ · As of 4:00 PM ET 11/06/26
Micron Technology, Inc. is expanding U.S. DRAM manufacturing, leveraging customer willingness to pay a premium for American-made memory. Federal and state incentives, including tax credits and CHIPS Act grants, significantly offset higher U.S. production costs, narrowing the cost gap with Asia. MU's U.S. manufacturing does not require a rerating, as government support and customer premiums render the economics broadly attractive without relative losses.
Valuation purists see a ridiculously inexpensive stock, but some semiconductor investors say Micron's earnings power won't hold up.
Micron is now rated a Strong Buy at ~$688, as the recent sell-off is seen as exaggerated and presents a compelling entry point. MU trades at a forward P/E of ~3.72, with ~$134 billion in binding customer commitments and significant buyback capacity set to unlock soon. AI-driven memory demand and Micron's oligopoly position in high-bandwidth memory underpin long-term structural value, despite cyclical and political uncertainties.
Benchmark MU against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Micron Technology, Inc. (MU)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $690.00 | $779.28B | 90.91 | 48.85% | 22.84% | 17.2% | 0.07% | |
| $56.28 | $283.88B | -955.52 | -0.47% | -20.09% | -9.9% | — | |
| $263.78 | $90.92B | 10.64 | 35.7% | 69.2% | 113.77% | 0.19% | |
| $460.99 | $103.37B | 33.16 | 34.06% | 31.86% | 245.11% | 0.6% | |
| $78.21 | $1.93B | 16.75 | -3.65% | 7.49% | 10.37% | 2.17% | |
| $23.79 | $12.32B | -0.70 | -6.14% | -159.3% | -282.74% | — |
Micron Technology, Inc. (MU) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Micron Technology, Inc. (MU) SEC filings — annual & quarterly reports (10-K, 10-Q)
Sep 30, 2026·SEC
Jun 24, 2026·SEC
Jun 9, 2026·SEC
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Micron Technology, Inc. (MU) stock FAQ — growth, dividends, profitability & financials explained
Micron Technology, Inc. (MU) reported $133.19B in revenue over the trailing twelve months. Revenue was $37.38B in fiscal year 2025. That is 923% more than the $3.65B of fiscal year 1996.
Micron Technology, Inc. (MU) grew revenue by 48.9% in fiscal year 2025, compared with the prior fiscal year.
Yes. Micron Technology, Inc. (MU) earned $84.97B in net income over the trailing twelve months (a 63.8% net margin).
Micron Technology, Inc. (MU) does not currently pay a meaningful dividend.
Micron Technology, Inc. (MU) had a return on equity (ROE) of 17.2% in fiscal year 2025. That is above the market's typical 10-15%.
Micron Technology, Inc. (MU) generated $58.96B in free cash flow over the trailing twelve months.
