Should You Sell Your Micron Stock Now?

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Micron Technology (MU) stock lost 19.6% between October 5 and November 3, 2026, while the S&P 500 fell 2.6%. The decline came even after the company reported what it called a record fiscal fourth quarter on September 30, and said it was positioned for a record fiscal 2027. For a holder thinking of selling, the question is whether those profits can last. So how much is Micron earning now, and what are buyers paying for those earnings?

How Much Is Micron Earning Right Now?

Net income for the twelve months to September 3, 2026, reached $85.0 billion, about ten times the $8.54 billion Micron earned in the twelve months before. With an operating margin of 74.6% over the latest twelve months, compared to 18.7% for the S&P 500, the company keeps far more of each sales dollar as profit than the index does.

At the November 3 close, buyers paid 11.4 times those trailing earnings for the stock, against 22.8 for the S&P 500. Because that multiple is based on a profit Micron reached only in the past year, it stays this low only as long as earnings hold near today’s level.

Can Micron Keep Its Profits This High?

On the September 30 call, management said market conditions should remain tight through 2028 and that it expects to sustain strong financial performance. For a holder, that outlook is the case for staying in: the profits behind today’s multiple would not be a one-year peak.

The risk lies in Micron’s prices. Management said margins should widen over the rest of fiscal 2027 from the first quarter’s level as prices keep rising, though at a slower rate. The company has said for some time that price increases would eventually slow, and it named start-up costs as a partial offset to higher prices. Guidance for fiscal Q1 2027 assumes only single-digit bit growth for both DRAM and NAND against the prior quarter, so shipment volumes will grow only modestly. With margin gains tied to continued price increases, the profits behind today’s multiple depend on prices still rising.

Micron Reports Again In December

Micron is expected to report its next quarterly results in December 2026. Gross margin is the number to watch in that report, having reached 86.8% in fiscal Q4 2026 against 44.7% in fiscal Q4 2025. A drop from that level would weaken the case for holding Micron.

Does This Mean You Should Act On MU?

Our purpose is to inform you with unique data so you make the right investment decisions. That said, betting on a single stock is always risky, no matter which direction you choose.

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