Micron Technology (MU)
Market Price (7/23/2026): $983.25 | Market Cap: $1.1 TrilInvestor Relations Sector: Information Technology | Industry: Semiconductors
Micron Technology (MU)
Market Price (7/23/2026): $983.25Market Cap: $1.1 TrilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 86% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 48% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 53%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%, CFO LTM is 31 Bil, FCF LTM is 10 Bil Megatrend and thematic driversMegatrends include Artificial Intelligence, Cloud Computing, and 5G & Advanced Connectivity. Themes include AI Chips, Show more. | Stock price has recently run up significantly6M Rtn6 month market price return is 147%, 12M Rtn12 month market price return is 780% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 107% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.1% Key risksMU key risks include [1] intense competition from emerging state-owned entities and [2] targeted geopolitical actions, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 86% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 48% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 53%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%, CFO LTM is 31 Bil, FCF LTM is 10 Bil |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Cloud Computing, and 5G & Advanced Connectivity. Themes include AI Chips, Show more. |
| Stock price has recently run up significantly6M Rtn6 month market price return is 147%, 12M Rtn12 month market price return is 780% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 107% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.1% |
| Key risksMU key risks include [1] intense competition from emerging state-owned entities and [2] targeted geopolitical actions, Show more. |
Qualitative Assessment
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Micron Technology (MU) stock has gained about 185% since 3/31/2026 because of the following key factors:
1. Exceptional Fiscal Q3 2026 Performance and Robust Outlook.
Micron Technology (whose fiscal Q3 2026 ended on May 28, 2026) reported record financial results for the quarter, significantly exceeding analyst expectations. The company posted revenue of $41.46 billion, a 346% increase year-over-year, and non-GAAP earnings per share (EPS) of $25.11, which was well above Wall Street forecasts. Following this strong performance, Micron provided bullish guidance for fiscal Q4 2026, projecting revenue of approximately $50 billion and non-GAAP EPS of about $31.
2. Surging Demand and Pricing Power in AI-Driven Memory Markets.
The stock's significant gain was largely fueled by exceptionally strong demand and rising prices for its memory and storage products, particularly High Bandwidth Memory (HBM), DRAM, and NAND, driven by the booming artificial intelligence (AI) sector and data center expansion. Micron's data center revenue exceeded $25 billion in fiscal Q3 2026, indicating an annualized run rate of over $100 billion, with data center SSD revenue more than doubling sequentially to over $5 billion. This robust demand outpaced industry supply, leading to substantial price increases, with DRAM contract prices rising 58-63% quarter-over-quarter and NAND prices climbing 70-75% in Q2 2026, with further increases projected for Q3 2026.
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Micron Technology (MU) stock has gained about 185% since 3/31/2026 because of the following key factors:
1. Exceptional Fiscal Q3 2026 Performance and Robust Outlook.
Micron Technology (whose fiscal Q3 2026 ended on May 28, 2026) reported record financial results for the quarter, significantly exceeding analyst expectations. The company posted revenue of $41.46 billion, a 346% increase year-over-year, and non-GAAP earnings per share (EPS) of $25.11, which was well above Wall Street forecasts. Following this strong performance, Micron provided bullish guidance for fiscal Q4 2026, projecting revenue of approximately $50 billion and non-GAAP EPS of about $31.
2. Surging Demand and Pricing Power in AI-Driven Memory Markets.
The stock's significant gain was largely fueled by exceptionally strong demand and rising prices for its memory and storage products, particularly High Bandwidth Memory (HBM), DRAM, and NAND, driven by the booming artificial intelligence (AI) sector and data center expansion. Micron's data center revenue exceeded $25 billion in fiscal Q3 2026, indicating an annualized run rate of over $100 billion, with data center SSD revenue more than doubling sequentially to over $5 billion. This robust demand outpaced industry supply, leading to substantial price increases, with DRAM contract prices rising 58-63% quarter-over-quarter and NAND prices climbing 70-75% in Q2 2026, with further increases projected for Q3 2026.
3. Record Gross Margins and Long-Term Strategic Customer Agreements.
Micron achieved a record non-GAAP gross margin of 84.9% in fiscal Q3 2026, a significant increase from 39.0% in the same period last year, primarily due to higher pricing and a favorable product mix. Additionally, the company secured 16 multi-year Strategic Customer Agreements (SCAs) with minimum committed volumes extending through calendar 2030, representing approximately $100 billion in cumulative minimum revenue value. These agreements, which include $22 billion in projected customer cash deposits and financial commitments, are expected to provide long-term revenue visibility and mitigate the historical cyclicality of the memory industry.
4. Positive Analyst Sentiment and Upgraded Price Targets.
Wall Street analysts responded to Micron's performance and market position with highly bullish commentary, issuing numerous "Buy" and "Strong Buy" ratings and raising price targets. For example, KeyBanc raised its price target to $1,750, and Cantor Fitzgerald issued a target of $2,000. The average analyst price target for Micron has ranged from approximately $1,507 to $1,569, indicating substantial upside potential, as analysts anticipate tight memory market conditions to persist beyond calendar 2027.
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Stock Movement Drivers
Fundamental Drivers
The 184.0% change in MU stock from 3/31/2026 to 7/22/2026 was primarily driven by a 184.0% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7222026 | Change |
|---|---|---|---|
| Stock Price ($) | 337.79 | 959.48 | 184.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 58,119 | 58,119 | 0.0% |
| Net Income Margin (%) | 41.5% | 41.5% | 0.0% |
| P/E Multiple | 15.8 | 44.8 | 184.0% |
| Shares Outstanding (Mil) | 1,126 | 1,126 | 0.0% |
| Cumulative Contribution | 184.0% |
Market Drivers
3/31/2026 to 7/22/2026| Return | Correlation | |
|---|---|---|
| MU | 184.0% | |
| Market (SPY) | 14.9% | 56.9% |
| Sector (XLK) | 35.6% | 79.3% |
Fundamental Drivers
The 236.4% change in MU stock from 12/31/2025 to 7/22/2026 was primarily driven by a 66.3% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7222026 | Change |
|---|---|---|---|
| Stock Price ($) | 285.25 | 959.48 | 236.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 42,312 | 58,119 | 37.4% |
| Net Income Margin (%) | 28.1% | 41.5% | 47.4% |
| P/E Multiple | 26.9 | 44.8 | 66.3% |
| Shares Outstanding (Mil) | 1,125 | 1,126 | -0.1% |
| Cumulative Contribution | 236.4% |
Market Drivers
12/31/2025 to 7/22/2026| Return | Correlation | |
|---|---|---|
| MU | 236.4% | |
| Market (SPY) | 9.9% | 51.3% |
| Sector (XLK) | 25.4% | 72.9% |
Fundamental Drivers
The 680.5% change in MU stock from 6/30/2025 to 7/22/2026 was primarily driven by a 125.3% change in the company's Net Income Margin (%).| (LTM values as of) | 6302025 | 7222026 | Change |
|---|---|---|---|
| Stock Price ($) | 122.94 | 959.48 | 680.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 33,813 | 58,119 | 71.9% |
| Net Income Margin (%) | 18.4% | 41.5% | 125.3% |
| P/E Multiple | 22.1 | 44.8 | 102.9% |
| Shares Outstanding (Mil) | 1,118 | 1,126 | -0.7% |
| Cumulative Contribution | 680.5% |
Market Drivers
6/30/2025 to 7/22/2026| Return | Correlation | |
|---|---|---|
| MU | 680.5% | |
| Market (SPY) | 22.0% | 52.3% |
| Sector (XLK) | 43.0% | 71.5% |
Fundamental Drivers
The 1440.2% change in MU stock from 6/30/2023 to 7/22/2026 was primarily driven by a 395.7% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7222026 | Change |
|---|---|---|---|
| Stock Price ($) | 62.30 | 959.48 | 1440.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18,173 | 58,119 | 219.8% |
| P/S Multiple | 3.8 | 18.6 | 395.7% |
| Shares Outstanding (Mil) | 1,094 | 1,126 | -2.8% |
| Cumulative Contribution | 1440.2% |
Market Drivers
6/30/2023 to 7/22/2026| Return | Correlation | |
|---|---|---|
| MU | 1440.2% | |
| Market (SPY) | 74.6% | 56.6% |
| Sector (XLK) | 111.3% | 69.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MU Return | 24% | -46% | 72% | -1% | 240% | 240% | 1224% |
| Peers Return | 46% | -48% | 112% | 23% | 100% | 114% | 745% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| MU Win Rate | 42% | 42% | 58% | 50% | 75% | 57% | |
| Peers Win Rate | 53% | 37% | 63% | 53% | 60% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| MU Max Drawdown | -30% | -50% | -18% | -45% | -41% | -30% | |
| Peers Max Drawdown | -27% | -56% | -23% | -39% | -36% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: WDC, INTC, NVDA, AMD, QCOM. See MU Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/22/2026 (YTD)
How Low Can It Go
| Event | MU | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.9% | -18.8% |
| % Gain to Breakeven | 61.0% | 23.1% |
| Time to Breakeven | 62 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -36.4% | -7.8% |
| % Gain to Breakeven | 57.1% | 8.5% |
| Time to Breakeven | 399 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.3% | -6.7% |
| % Gain to Breakeven | 11.5% | 7.1% |
| Time to Breakeven | 10 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -48.8% | -24.5% |
| % Gain to Breakeven | 95.2% | 32.4% |
| Time to Breakeven | 522 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.5% | -33.7% |
| % Gain to Breakeven | 74.0% | 50.9% |
| Time to Breakeven | 245 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.7% | -19.2% |
| % Gain to Breakeven | 55.6% | 23.8% |
| Time to Breakeven | 207 days | 105 days |
In The Past
Micron Technology's stock fell -37.9% during the 2025 US Tariff Shock. Such a loss loss requires a 61.0% gain to breakeven.
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| Event | MU | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.9% | -18.8% |
| % Gain to Breakeven | 61.0% | 23.1% |
| Time to Breakeven | 62 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -36.4% | -7.8% |
| % Gain to Breakeven | 57.1% | 8.5% |
| Time to Breakeven | 399 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -48.8% | -24.5% |
| % Gain to Breakeven | 95.2% | 32.4% |
| Time to Breakeven | 522 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.5% | -33.7% |
| % Gain to Breakeven | 74.0% | 50.9% |
| Time to Breakeven | 245 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.7% | -19.2% |
| % Gain to Breakeven | 55.6% | 23.8% |
| Time to Breakeven | 207 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -43.7% | -12.2% |
| % Gain to Breakeven | 77.7% | 13.9% |
| Time to Breakeven | 210 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -70.3% | -6.8% |
| % Gain to Breakeven | 236.4% | 7.3% |
| Time to Breakeven | 568 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -46.5% | -17.9% |
| % Gain to Breakeven | 86.8% | 21.8% |
| Time to Breakeven | 128 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -33.6% | -15.4% |
| % Gain to Breakeven | 50.7% | 18.2% |
| Time to Breakeven | 189 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -77.5% | -53.4% |
| % Gain to Breakeven | 343.8% | 114.4% |
| Time to Breakeven | 281 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -22.9% | -8.6% |
| % Gain to Breakeven | 29.6% | 9.5% |
| Time to Breakeven | 2133 days | 47 days |
In The Past
Micron Technology's stock fell -37.9% during the 2025 US Tariff Shock. Such a loss loss requires a 61.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Micron Technology (MU)
Micron Technology, Inc. (MU) is a global leader in the design, manufacture, and sale of advanced memory and storage products. The company provides essential semiconductor devices, primarily focusing on DRAM (Dynamic Random Access Memory) for high-speed data retrieval and NAND (Non-Volatile) products for persistent data storage. It also offers NOR memory, known for its fast read speeds. These critical components are supplied under the company's Micron and Crucial brands, as well as through private labels.
Micron's diverse portfolio of memory and storage solutions serves a wide range of industries and applications. Its DRAM products are vital for cloud servers, enterprise systems, client computing, graphics, and networking markets, as well as powering smartphones and other mobile devices. The company's NAND-based SSDs (Solid State Drives) and other storage solutions cater to enterprise, cloud, client, and consumer storage needs. Beyond these, Micron also develops specialized memory and storage products for the demanding automotive, industrial, and broader consumer markets.
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Here are 1-3 brief analogies for Micron Technology:
- Micron is like Intel for computer memory chips.
- Micron is like Samsung, but solely focused on making memory and storage chips.
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- DRAM (Dynamic Random Access Memory) Products: Semiconductor devices offering low-latency, high-speed data retrieval for various computing applications.
- NAND Products: Non-volatile, re-writable semiconductor storage devices primarily used for data storage.
- NOR Memory Products: Non-volatile, re-writable semiconductor memory devices providing fast read speeds.
- SSDs (Solid State Drives): Storage devices and component-level solutions for enterprise, cloud, client, and consumer markets.
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Based on the company description, Micron Technology primarily designs, manufactures, and sells memory and storage products as components and solutions to other businesses for integration into their final products. Therefore, its major customers are other companies rather than individuals.
Major customers for Micron Technology typically include large-scale manufacturers and cloud service providers across the following sectors:
- Smartphone and Mobile Device Manufacturers: Companies that integrate Micron's memory and storage into smartphones, tablets, and other mobile devices.
- Example: Apple Inc. (AAPL)
- PC, Server, and Enterprise System Manufacturers: Companies that utilize Micron's DRAM, NAND, and SSD solutions for client PCs, enterprise servers, and data center infrastructure.
- Example: Dell Technologies Inc. (DELL)
- Cloud Service Providers and Hyperscalers: Large technology companies that build and operate massive data centers requiring vast amounts of memory and storage for their cloud computing services.
- Example: Microsoft Corp. (MSFT) for its Azure cloud platform.
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- ASML (ASML)
- Applied Materials (AMAT)
- Lam Research (LRCX)
- KLA Corporation (KLAC)
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Sanjay Mehrotra, Chairman, President and CEO
Sanjay Mehrotra is the Chairman, President, and CEO of Micron Technology. He co-founded SanDisk Corporation in 1988 and served as its president and CEO from 2011 until its acquisition by Western Digital in 2016 for $19 billion. Mehrotra has over 40 years of experience in the semiconductor memory industry, including engineering and leadership positions at Integrated Device Technology, SEEQ Technology, and Intel Corp. He holds more than 70 patents.
Mark Murphy, Executive Vice President and Chief Financial Officer
Mark Murphy is the Executive Vice President and Chief Financial Officer at Micron Technology, joining the company in 2022. He is responsible for leading Micron's finance organization and all financial functions, including accounting, tax, treasury, internal audit, and investor relations. Prior to Micron, Murphy served as Executive Vice President and CFO of Qorvo, a semiconductor company. He also held senior leadership positions at Delphi Automotive, MEMC Electronic Materials, and Praxair. Murphy has over 25 years of experience across finance and general management roles in global companies.
Sumit Sadana, Executive Vice President and Chief Business Officer
Sumit Sadana is the Executive Vice President and Chief Business Officer at Micron Technology, a role he assumed in 2017. He is responsible for the company's business units, driving revenue and profitability, and corporate strategy and business development. Sadana previously served as Executive Vice President, Chief Strategy Officer, and General Manager of Enterprise Solutions at SanDisk. His career also includes executive roles at IBM and Freescale Semiconductor. Sadana has completed approximately $40 billion in mergers and acquisitions throughout his career.
Manish Bhatia, Executive Vice President, Global Operations
Manish Bhatia is the Executive Vice President, Global Operations at Micron Technology, a position he has held since October 2017. He is responsible for the company's end-to-end operations, including manufacturing, packaging, quality, and supply chain. Before joining Micron, Bhatia held several executive roles at Western Digital Corporation and SanDisk Corporation, including Executive Vice President of Worldwide Operations at SanDisk. He joined SanDisk in 2006 through the acquisition of Matrix Semiconductor. His earlier career included positions at McKinsey & Company and Saint Gobain Corporation.
Scott J. DeBoer, Executive Vice President, Chief Technology and Products Officer
Scott J. DeBoer is the Executive Vice President, Chief Technology and Products Officer at Micron Technology. He oversees the company's research and development, as well as product development and technology roadmap. DeBoer has held various leadership positions in technology and engineering throughout his career at Micron. His extensive experience includes driving innovation in memory and storage solutions.
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The key risks to Micron Technology's business include:
- Cyclicality and Potential Oversupply in the Memory Market: The memory and storage industry is inherently cyclical, characterized by fluctuating demand, pricing, and profitability. While currently experiencing strong demand, particularly for High Bandwidth Memory (HBM) driven by AI, there is a significant risk of future oversupply. Micron and its competitors are undertaking substantial capital expenditures to expand production capacity, which could lead to an imbalance where supply outstrips demand, resulting in declines in average selling prices and compressed profit margins, potentially by late 2026 or 2027.
- Intense Competition in High Bandwidth Memory (HBM): Micron faces fierce competition, especially in the high-growth HBM segment critical for AI applications. Key rivals like SK Hynix and Samsung are aggressively increasing their HBM production capacity and developing next-generation technologies. Reports suggest Micron may be trailing in the HBM4 market, potentially impacting its market share, pricing power, and future profitability in this crucial, high-margin area.
- Geopolitical Risks and Supply Chain Dependency: A substantial portion of Micron's manufacturing and operational footprint is located in Taiwan. This concentration exposes the company to significant geopolitical risks. Any regional conflict or increased tensions could lead to catastrophic disruptions in Micron's supply chain and manufacturing capabilities, severely impacting its global operations and financial performance.
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Micron Technology's main products, DRAM, NAND, and NOR memory, operate within substantial addressable markets globally.
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The global Dynamic Random Access Memory (DRAM) market was valued at approximately USD 121.83 billion in 2025 and is projected to grow to USD 223.7 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 7.20% during the forecast period. Another estimate placed the global DRAM market size at USD 135.4 billion in 2024, with a projection to reach USD 359.0 billion by 2033 at a CAGR of 11.4% from 2025-2033.
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The global NAND flash memory market was valued at USD 65.1 billion in 2024 and is estimated to grow at a 5.6% CAGR from 2025 to 2034. Other reports indicate the NAND flash memory market is estimated to be valued at USD 77.81 billion in 2026 and is expected to reach USD 117.00 billion by 2033, exhibiting a CAGR of 6.0% from 2026 to 2033. Furthermore, the NAND Flash Memory market was valued at USD 108.25 billion in 2025 and is projected to reach USD 225.68 billion by 2034, advancing at a CAGR of 8.64%.
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The global NOR Flash Market is projected to expand from USD 3.04 billion in 2025 to USD 4.27 billion by 2031, registering a CAGR of 5.74% between 2026 and 2031. Another analysis forecasts the global NOR Flash Market to reach a valuation of USD 5.27 billion in 2025 and to reach USD 10.73 billion by 2034, recording a CAGR of 8.2% from 2025 to 2034.
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Micron Technology (MU) is poised for significant revenue growth over the next 2-3 years, driven by several key factors:
- Explosive Demand for AI-Driven High Bandwidth Memory (HBM) and Data Center Products: The proliferation of artificial intelligence (AI) and large language models (LLMs) is creating unprecedented demand for high-performance memory. Micron has reported record revenues in data center DRAM and HBM, with HBM shipments ahead of plan. The company has sold out its entire HBM output for calendar year 2025 and has secured agreements for its calendar 2026 HBM supply, including the advanced HBM4. The HBM market is projected to expand significantly, with estimates indicating growth from approximately $35 billion in 2025 to nearly $100 billion by 2028.
- Overall DRAM and NAND Market Recovery and Improved Pricing: Following a period of oversupply, the broader memory market for both DRAM and NAND products is experiencing a robust recovery. Tight supply conditions across the industry are leading to increased pricing power for memory manufacturers like Micron. The company expects these tight market conditions to persist beyond calendar 2026. This environment is contributing to significantly improved gross margins and overall revenue expansion.
- Technological Leadership and New Product Ramps: Micron's continuous investment in advanced technology nodes, such as the 1-gamma DRAM and G9 NAND, is a crucial driver. The 1-gamma DRAM node offers higher bit density and improved power efficiency, while the ramp of HBM4 is expected to command higher average selling prices (ASPs). These technological advancements enhance Micron's competitive edge and enable the delivery of higher-value, higher-margin products.
- Recovery in Traditional End Markets: Beyond the dominant AI segment, Micron is also observing improvements in demand across other key end markets. This includes the recovery of inventories in client (PC) and smartphone markets, as well as strengthening demand in broad distribution, industrial, and parts of the automotive sectors. This broader market stabilization and growth will contribute to overall revenue diversification and stability.
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Share Repurchases
- Micron's annual share buybacks amounted to $425 million in 2023 and $300 million in 2024.
- The company conducted $300 million in share repurchases during the first quarter of fiscal 2026, which ended November 27, 2025.
- Micron completed $300 million in share repurchases under the CHIPS definitive agreement.
Capital Expenditures
- Micron invested $13.8 billion in capital expenditures during fiscal 2025.
- The company anticipates fiscal 2026 capital expenditures to be approximately $20 billion, an increase from fiscal 2025, primarily focused on 1γ DRAM and HBM-related investments, DRAM front-end equipment, and fab construction.
- For the first quarter of fiscal 2026, capital expenditures were $4.5 billion.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 382.20 |
| Mkt Cap | 711.2 |
| Rev LTM | 49,125 |
| Op Inc LTM | 7,879 |
| FCF LTM | 9,428 |
| FCF 3Y Avg | 3,346 |
| CFO LTM | 12,132 |
| CFO 3Y Avg | 12,119 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 33.5% |
| Rev Chg 3Y Avg | 22.0% |
| Rev Chg Q | 41.7% |
| QoQ Delta Rev Chg LTM | 8.9% |
| Op Inc Chg LTM | 102.5% |
| Op Inc Chg 3Y Avg | 53.8% |
| Op Mgn LTM | 28.4% |
| Op Mgn 3Y Avg | 14.2% |
| QoQ Delta Op Mgn LTM | 2.6% |
| CFO/Rev LTM | 30.0% |
| CFO/Rev 3Y Avg | 26.4% |
| FCF/Rev LTM | 23.8% |
| FCF/Rev 3Y Avg | 7.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 711.2 |
| P/S | 17.4 |
| P/Op Inc | 45.1 |
| P/EBIT | 26.7 |
| P/E | 30.8 |
| P/CFO | 46.6 |
| Total Yield | 2.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 0.5% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -20.8% |
| 3M Rtn | 50.2% |
| 6M Rtn | 105.1% |
| 12M Rtn | 299.3% |
| 3Y Rtn | 388.7% |
| 1M Excs Rtn | -21.2% |
| 3M Excs Rtn | 43.8% |
| 6M Excs Rtn | 114.4% |
| 12M Excs Rtn | 277.6% |
| 3Y Excs Rtn | 296.3% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cloud Memory Business Unit (CMBU) | 13,524 | 3,792 | 1,872 | ||
| Mobile and Client Business Unit (MCBU) | 11,859 | 11,667 | 7,394 | ||
| Core Data Center Business Unit (CDBU) | 7,229 | 4,984 | 2,124 | ||
| Automotive and Embedded Business Unit (AEBU) | 4,753 | 4,631 | 4,139 | ||
| All Other | 13 | 37 | 11 | 17 | 40 |
| Unallocated | 0 | 0 | 0 | ||
| Compute and Networking Business Unit (CNBU) | 13,693 | 12,280 | |||
| Embedded Business Unit (EBU) | 5,235 | 4,209 | |||
| Mobile Business Unit (MBU) | 7,260 | 7,203 | |||
| Storage Business Unit (SBU) | 4,553 | 3,973 | |||
| Total | 37,378 | 25,111 | 15,540 | 30,758 | 27,705 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cloud Memory Business Unit (CMBU) | 6,129 | 244 | -768 | ||
| Core Data Center Business Unit (CDBU) | 2,180 | 255 | -563 | ||
| Mobile and Client Business Unit (MCBU) | 1,981 | -1 | -3,189 | ||
| Automotive and Embedded Business Unit (AEBU) | 557 | 432 | 680 | ||
| All Other | -1 | 18 | 8 | 12 | 20 |
| Unallocated | -1,076 | 356 | -1,913 | -579 | -1,384 |
| Compute and Networking Business Unit (CNBU) | 5,844 | 4,295 | |||
| Embedded Business Unit (EBU) | 1,752 | 1,006 | |||
| Mobile Business Unit (MBU) | 2,160 | 2,173 | |||
| Storage Business Unit (SBU) | 513 | 173 | |||
| Total | 9,770 | 1,304 | -5,745 | 9,702 | 6,283 |
| $ Mil | 2001 |
|---|---|
| Semiconductor operations | 7,789 |
| Total | 7,789 |
Price Behavior
| Market Price | $959.48 | |
| Market Cap ($ Bil) | 1,080.4 | |
| First Trading Date | 05/16/1989 | |
| Distance from 52W High | -20.9% | |
| 50 Days | 200 Days | |
| DMA Price | $948.29 | $494.23 |
| DMA Trend | up | up |
| Distance from DMA | 1.2% | 94.1% |
| 3M | 1YR | |
| Volatility | 107.9% | 77.2% |
| Downside Capture | 458.15 | 257.45 |
| Upside Capture | 680.13 | 464.46 |
| Correlation (SPY) | 58.3% | 53.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.68 | 4.87 | 3.79 | 3.29 | 3.13 | 2.28 |
| Up Beta | 1.53 | 1.62 | 1.35 | 1.63 | 2.50 | 1.96 |
| Down Beta | 5.71 | 5.16 | 5.05 | 3.21 | 3.42 | 2.47 |
| Up Capture | 851% | 1428% | 1346% | 1624% | 2702% | 11570% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 12 | 25 | 38 | 69 | 144 | 408 |
| Down Capture | 345% | 313% | 294% | 199% | 157% | 112% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 9 | 16 | 25 | 56 | 108 | 343 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MU | |
|---|---|---|---|---|
| MU | 756.0% | 77.2% | 3.11 | - |
| Sector ETF (XLK) | 38.8% | 24.7% | 1.27 | 72.3% |
| Equity (SPY) | 20.0% | 12.6% | 1.16 | 53.6% |
| Gold (GLD) | 21.2% | 28.1% | 0.67 | 24.9% |
| Commodities (DBC) | 33.0% | 19.1% | 1.36 | 2.7% |
| Real Estate (VNQ) | 13.9% | 14.0% | 0.70 | -6.3% |
| Bitcoin (BTCUSD) | -43.6% | 42.9% | -1.21 | 27.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MU | |
|---|---|---|---|---|
| MU | 65.9% | 55.2% | 1.13 | - |
| Sector ETF (XLK) | 19.6% | 25.6% | 0.68 | 68.1% |
| Equity (SPY) | 12.8% | 17.1% | 0.58 | 57.5% |
| Gold (GLD) | 17.3% | 18.4% | 0.76 | 14.7% |
| Commodities (DBC) | 9.3% | 19.5% | 0.37 | 11.9% |
| Real Estate (VNQ) | 2.7% | 18.9% | 0.04 | 23.4% |
| Bitcoin (BTCUSD) | 15.2% | 53.5% | 0.46 | 25.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MU | |
|---|---|---|---|---|
| MU | 53.9% | 50.9% | 1.05 | - |
| Sector ETF (XLK) | 24.5% | 24.8% | 0.89 | 67.1% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 59.3% |
| Gold (GLD) | 11.5% | 16.1% | 0.58 | 10.0% |
| Commodities (DBC) | 7.1% | 17.9% | 0.31 | 18.4% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 30.5% |
| Bitcoin (BTCUSD) | 58.5% | 66.2% | 0.99 | 18.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 7/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/24/2026 | 15.7% | -1.5% | |
| 3/18/2026 | -3.8% | -17.2% | -1.4% |
| 12/17/2025 | 10.2% | 27.1% | 61.9% |
| 9/23/2025 | -2.8% | 0.5% | 19.3% |
| 6/25/2025 | -1.0% | -4.3% | -12.5% |
| 3/20/2025 | -8.0% | -11.5% | -35.1% |
| 12/18/2024 | -16.2% | -13.6% | 5.3% |
| 9/25/2024 | 14.7% | 4.3% | 11.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 13 |
| # Negative | 14 | 13 | 9 |
| Median Positive | 10.2% | 8.6% | 11.0% |
| Median Negative | -3.9% | -6.7% | -8.7% |
| Max Positive | 15.7% | 27.1% | 61.9% |
| Max Negative | -16.2% | -17.2% | -35.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/24/2026 | 15.7% | -1.5% | |
| 3/18/2026 | -3.8% | -17.2% | -1.4% |
| 12/17/2025 | 10.2% | 27.1% | 61.9% |
| 9/23/2025 | -2.8% | 0.5% | 19.3% |
| 6/25/2025 | -1.0% | -4.3% | -12.5% |
| 3/20/2025 | -8.0% | -11.5% | -35.1% |
| 12/18/2024 | -16.2% | -13.6% | 5.3% |
| 9/25/2024 | 14.7% | 4.3% | 11.7% |
| 6/26/2024 | -7.1% | -3.9% | -23.1% |
| 3/20/2024 | 14.1% | 23.9% | 11.0% |
| 12/20/2023 | 8.6% | 9.3% | 11.4% |
| 9/27/2023 | -4.4% | -0.1% | -5.2% |
| 6/28/2023 | -4.1% | -8.7% | 6.4% |
| 3/28/2023 | 7.2% | -3.4% | 4.6% |
| 12/21/2022 | -3.4% | -1.1% | 19.9% |
| 9/29/2022 | 0.2% | 9.2% | 8.3% |
| 6/30/2022 | -2.9% | 7.2% | 13.4% |
| 3/29/2022 | -3.5% | -9.1% | -14.3% |
| 12/20/2021 | 10.5% | 13.3% | 3.8% |
| 6/30/2021 | -5.7% | -9.3% | -8.7% |
| 3/31/2021 | 4.8% | 8.0% | -2.4% |
| 1/7/2021 | -2.1% | 2.8% | 6.2% |
| 9/29/2020 | -7.4% | -6.7% | -1.4% |
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 13 |
| # Negative | 14 | 13 | 9 |
| Median Positive | 10.2% | 8.6% | 11.0% |
| Median Negative | -3.9% | -6.7% | -8.7% |
| Max Positive | 15.7% | 27.1% | 61.9% |
| Max Negative | -16.2% | -17.2% | -35.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 03/19/2026 | 10-Q |
| 11/30/2025 | 12/18/2025 | 10-Q |
| 08/31/2025 | 10/03/2025 | 10-K |
| 05/31/2025 | 06/26/2025 | 10-Q |
| 02/28/2025 | 03/21/2025 | 10-Q |
| 11/30/2024 | 12/19/2024 | 10-Q |
| 08/31/2024 | 10/04/2024 | 10-K |
| 05/31/2024 | 06/27/2024 | 10-Q |
| 02/29/2024 | 03/21/2024 | 10-Q |
| 11/30/2023 | 12/21/2023 | 10-Q |
| 08/31/2023 | 10/06/2023 | 10-K |
| 05/31/2023 | 06/29/2023 | 10-Q |
| 02/28/2023 | 03/29/2023 | 10-Q |
| 11/30/2022 | 12/22/2022 | 10-Q |
| 08/31/2022 | 10/07/2022 | 10-K |
| 05/31/2022 | 07/01/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 03/19/2026 | 10-Q |
| 11/30/2025 | 12/18/2025 | 10-Q |
| 08/31/2025 | 10/03/2025 | 10-K |
| 05/31/2025 | 06/26/2025 | 10-Q |
| 02/28/2025 | 03/21/2025 | 10-Q |
| 11/30/2024 | 12/19/2024 | 10-Q |
| 08/31/2024 | 10/04/2024 | 10-K |
| 05/31/2024 | 06/27/2024 | 10-Q |
| 02/29/2024 | 03/21/2024 | 10-Q |
| 11/30/2023 | 12/21/2023 | 10-Q |
| 08/31/2023 | 10/06/2023 | 10-K |
| 05/31/2023 | 06/29/2023 | 10-Q |
| 02/28/2023 | 03/29/2023 | 10-Q |
| 11/30/2022 | 12/22/2022 | 10-Q |
| 08/31/2022 | 10/07/2022 | 10-K |
| 05/31/2022 | 07/01/2022 | 10-Q |
| 02/28/2022 | 03/30/2022 | 10-Q |
| 11/30/2021 | 01/06/2022 | 10-Q |
| 08/31/2021 | 10/08/2021 | 10-K |
| 05/31/2021 | 07/01/2021 | 10-Q |
| 02/28/2021 | 04/01/2021 | 10-Q |
| 11/30/2020 | 01/08/2021 | 10-Q |
| 08/31/2020 | 10/19/2020 | 10-K |
| 05/31/2020 | 06/30/2020 | 10-Q |
| 02/29/2020 | 03/26/2020 | 10-Q |
| 11/30/2019 | 12/20/2019 | 10-Q |
| 08/31/2019 | 10/17/2019 | 10-K |
| 05/31/2019 | 06/26/2019 | 10-Q |
Recent Forward Guidance
Updated 7/8/2026Latest: Q3 2026 Earnings Reported 6/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Revenue | 49.00 Bil | 50.00 Bil | 51.00 Bil | 49.3% | Higher New | Guidance: 33.50 Bil for Q3 2026 | |
| Q4 2026 Gross margin | 86.0% | 5.0% | Higher New | Guidance: 81.0% for Q3 2026 | |||
| Q4 2026 Operating expenses (GAAP) | 1.86 Bil | 16.2% | Higher New | Guidance: 1.60 Bil for Q3 2026 | |||
| Q4 2026 Operating expenses (Non-GAAP) | 1.65 Bil | ||||||
| Q4 2026 Diluted earnings per share (GAAP) | 29.7 | 30.7 | 31.7 | 62.6% | Higher New | Guidance: 18.9 for Q3 2026 | |
| Q4 2026 Diluted earnings per share (Non-GAAP) | 30 | 31 | 32 | ||||
Prior: Q2 2026 Earnings Reported 3/18/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | 32.75 Bil | 33.50 Bil | 34.25 Bil | 79.1% | Higher New | Guidance: 18.70 Bil for Q2 2026 | |
| Q3 2026 Gross margin | 81.0% | 14.0% | Higher New | Guidance: 67.0% for Q2 2026 | |||
| Q3 2026 Operating expenses | 1.60 Bil | 2.6% | Higher New | Guidance: 1.56 Bil for Q2 2026 | |||
| Q3 2026 Diluted earnings per share | 18.5 | 18.9 | 19.3 | 130.8% | Higher New | Guidance: 8.19 for Q2 2026 | |
Q1 2026 Earnings Reported 12/17/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 18.30 Bil | 18.70 Bil | 19.10 Bil | 49.6% | Higher New | Guidance: 12.50 Bil for Q1 2026 | |
| Q2 2026 Gross Margin | 66.0% | 67.0% | 68.0% | 16.5% | Higher New | Guidance: 50.5% for Q1 2026 | |
| Q2 2026 Operating Expenses | 1.54 Bil | 1.56 Bil | 1.58 Bil | 4.7% | Higher New | Guidance: 1.49 Bil for Q1 2026 | |
| Q2 2026 Diluted Earnings Per Share | 7.99 | 8.19 | 8.39 | 130.1% | Higher New | Guidance: 3.56 for Q1 2026 | |
Insider Activity
Updated 7/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Arnzen, April S | EVP and Chief People Officer | Direct | Sell | 7062026 | 1083.94 | 40,000 | 43,357,473 | 92,933,492 | Form |
| 2 | Dugle, Lynn A | Direct | Sell | 7022026 | 1150.43 | 1,300 | 1,495,559 | 20,394,823 | Form | |
| 3 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 6302026 | 1180.96 | 11,494 | 13,573,977 | 406,844,944 | Form |
| 4 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 6302026 | 1149.28 | 28,506 | 32,761,315 | 409,139,479 | Form |
| 5 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 6022026 | 975.63 | 2,561 | 2,498,589 | 375,132,698 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Arnzen, April S | EVP and Chief People Officer | Direct | Sell | 7062026 | 1083.94 | 40,000 | 43,357,473 | 92,933,492 | Form |
| 2 | Dugle, Lynn A | Direct | Sell | 7022026 | 1150.43 | 1,300 | 1,495,559 | 20,394,823 | Form | |
| 3 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 6302026 | 1180.96 | 11,494 | 13,573,977 | 406,844,944 | Form |
| 4 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 6302026 | 1149.28 | 28,506 | 32,761,315 | 409,139,479 | Form |
| 5 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 6022026 | 975.63 | 2,561 | 2,498,589 | 375,132,698 | Form |
| 6 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 6022026 | 960.38 | 37,439 | 35,955,527 | 371,727,080 | Form |
| 7 | Gomo, Steven J | Direct | Sell | 5132026 | 787.03 | 2,000 | 1,574,070 | 13,488,993 | Form | |
| 8 | Ray, Michael Charles | SVP, Chief Legal Officer | Direct | Sell | 5052026 | 534.30 | 7,601 | 4,061,207 | 35,919,321 | Form |
| 9 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 5052026 | 536.26 | 40,000 | 21,450,555 | 227,645,622 | Form |
| 10 | Cordano, Michael D | EVP, Worldwide Sales | Direct | Sell | 4162026 | 435.00 | 3,407 | 1,482,045 | 19,165,665 | Form |
| 11 | Cordano, Michael D | EVP, Worldwide Sales | Direct | Sell | 4132026 | 420.81 | 3,407 | 1,433,700 | 19,974,167 | Form |
| 12 | Arnzen, April S | EVP and Chief People Officer | Direct | Sell | 4032026 | 347.39 | 40,000 | 13,895,762 | 43,680,285 | Form |
| 13 | Sadana, Sumit | EVP and Chief Business Officer | Direct | Sell | 2042026 | 429.89 | 25,000 | 10,747,266 | 106,621,911 | Form |
| 14 | Ray, Michael Charles | SVP, Chief Legal Officer | Direct | Sell | 1292026 | 409.68 | 12,268 | 5,025,987 | 30,593,056 | Form |
| 15 | Bhatia, Manish H | EVP, Global Operations | Direct | Sell | 1262026 | 391.04 | 26,623 | 10,410,771 | 126,497,342 | Form |
| 16 | Liu, Teyin M | Direct | Buy | 1152026 | 337.22 | 11,600 | 3,911,711 | 8,737,280 | Form | |
| 17 | Liu, Teyin M | Direct | Buy | 1152026 | 337.07 | 11,600 | 3,910,012 | 4,823,472 | Form | |
| 18 | Arnzen, April S | EVP and Chief People Officer | Direct | Sell | 12232025 | 277.09 | 15,000 | 4,156,350 | 45,891,092 | Form |
| 19 | Gomo, Steven J | Direct | Sell | 12232025 | 263.63 | 5,000 | 1,318,150 | 5,045,615 | Form | |
| 20 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 11102025 | 233.39 | 3,743 | 873,567 | 92,556,142 | Form |
| 21 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 11102025 | 241.34 | 8,757 | 2,113,441 | 96,614,699 | Form |
| 22 | Murphy, Mark J | EVP & Chief Financial Officer | Direct | Sell | 11032025 | 225.31 | 126,000 | 28,389,111 | 49,499,119 | Form |
| 23 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10312025 | 225.23 | 10,602 | 2,387,880 | 92,136,303 | Form |
| 24 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10312025 | 230.53 | 11,898 | 2,742,851 | 96,749,014 | Form |
| 25 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10292025 | 220.72 | 22,500 | 4,966,229 | 98,569,265 | Form |
| 26 | Deboer, Scott J | EVP, CTO and Products Officer | Direct | Sell | 10292025 | 222.81 | 82,000 | 18,270,420 | 34,345,047 | Form |
| 27 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10222025 | 203.12 | 19,761 | 4,013,785 | 95,277,467 | Form |
| 28 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10222025 | 211.19 | 2,739 | 578,443 | 103,236,800 | Form |
| 29 | Allen, Scott R | CVP, Chief Accounting Officer | Direct | Sell | 10212025 | 210.02 | 8,800 | 1,848,176 | 8,450,575 | Form |
| 30 | Ray, Michael Charles | SVP, Chief Legal Officer | Direct | Sell | 10202025 | 201.63 | 3,682 | 742,384 | 20,581,914 | Form |
| 31 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10072025 | 188.47 | 21,563 | 4,064,029 | 51,386,600 | Form |
| 32 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10072025 | 194.44 | 10,800 | 2,099,964 | 57,206,722 | Form |
| 33 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10072025 | 190.51 | 5,137 | 978,628 | 58,106,358 | Form |
| 34 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 10032025 | 180.86 | 15,000 | 2,712,866 | 56,092,658 | Form |
| 35 | Arnzen, April S | EVP and Chief People Officer | Direct | Sell | 10022025 | 164.04 | 15,000 | 2,460,600 | 21,584,383 | Form |
| 36 | Beyer, Richard M | Direct | Sell | 9292025 | 155.68 | 5,552 | 864,335 | 14,950,106 | Form | |
| 37 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 9222025 | 162.20 | 13,798 | 2,238,003 | 52,738,228 | Form |
| 38 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 9222025 | 170.18 | 1,202 | 204,556 | 57,681,830 | Form |
| 39 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 9172025 | 158.29 | 7,319 | 1,158,546 | 53,843,041 | Form |
| 40 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 9172025 | 160.04 | 181 | 28,967 | 55,608,619 | Form |
| 41 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 9122025 | 152.27 | 7,500 | 1,142,042 | 52,937,142 | Form |
| 42 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 9122025 | 140.58 | 7,500 | 1,054,387 | 49,928,453 | Form |
| 43 | Mehrotra, Sanjay | President and CEO | Direct | Sell | 9092025 | 130.83 | 7,500 | 981,212 | 47,444,604 | Form |
| 44 | McCarthy, Mary Pat | Direct | Sell | 9042025 | 115.67 | 2,404 | 278,071 | 2,330,288 | Form | |
| 45 | Murphy, Mark J | EVP & Chief Financial Officer | Direct | Sell | 7242025 | 109.32 | 34,000 | 3,716,823 | 28,863,975 | Form |
| 46 | McCarthy, Mary Pat | Direct | Sell | 7032025 | 121.28 | 2,404 | 291,562 | 2,734,911 | Form | |
| 47 | Bhatia, Manish H | EVP, Global Operations | Direct | Sell | 7022025 | 123.16 | 80,000 | 9,852,800 | 33,877,252 | Form |
| 48 | Sadana, Sumit | EVP and Chief Business Officer | Direct | Sell | 7012025 | 125.49 | 92,638 | 11,625,143 | 25,264,400 | Form |
| 49 | Gomo, Steven J | Direct | Sell | 7012025 | 125.15 | 7,000 | 876,050 | 2,848,664 | Form |
Investor Activity (13F)
Updated Jul 23, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| DCF Advisers, LLC | $50.7 Mil | 19.1% | 72 | TRIM -10.3% | 13F |
| Trivest Advisors Ltd | $264.9 Mil | 19.1% | 29 | ADD +28.1% | 13F |
| WS Management LLLP | $121.6 Mil | 15.9% | 35 | TRIM -41.9% | 13F |
| Tensor Edge Capital, LLC | $78.8 Mil | 13.5% | 17 | ADD +16.6% | 13F |
| Oak Grove Capital LLC | $75.2 Mil | 12.9% | 82 | Hold | 13F |
| Prime Capital Management Co Ltd | $85.3 Mil | 9.6% | 7 | New | 13F |
| Horiko Capital Management LLC | $41.5 Mil | 9.6% | 20 | Hold | 13F |
| Tairen Capital Ltd | $88.3 Mil | 9.6% | 44 | New | 13F |
| Appaloosa LP | $562.5 Mil | 9.5% | 31 | ADD +11.0% | 13F |
| KCM Capital Inc | $50.7 Mil | 9.5% | 31 | ADD +66.7% | 13F |
| Anther Capital Ltd | $340.4 Mil | 8.9% | 31 | New | 13F |
| California First Leasing Corp | $27.7 Mil | 8.9% | 39 | Hold | 13F |
| Spectrum Financial Alliance Ltd LLC | $42.1 Mil | 8.1% | 32 | TRIM -51.3% | 13F |
| CTC LLC | $99.4 Mil | 8.0% | 25 | TRIM -16.0% | 13F |
| Headwater Capital Co Ltd | $36.1 Mil | 5.8% | 15 | ADD +37.2% | 13F |
| Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group | $15.2 Mil | 5.8% | 28 | Hold | 13F |
| WT Asset Management Ltd | $264.8 Mil | 5.5% | 32 | TRIM -13.1% | 13F |
| Crosslink Capital Inc | $56.6 Mil | 5.5% | 21 | Hold | 13F |
| PARUS FINANCE (UK) Ltd | $16.6 Mil | 5.0% | 37 | ADD +13.8% | 13F |
| Halter Ferguson Financial Inc. | $21.9 Mil | 4.8% | 36 | ADD +56.3% | 13F |
| Ravenswood Partners LP | $12.0 Mil | 4.4% | 35 | TRIM -39.9% | 13F |
| E20 Capital Ltd | $44.6 Mil | 4.2% | 22 | New | 13F |
| FFG Partners, LLC | $9.7 Mil | 3.9% | 35 | New | 13F |
| Element Capital Management LLC | $9.8 Mil | 3.8% | 34 | New | 13F |
| Valueworks LLC | $13.0 Mil | 3.6% | 35 | TRIM -60.1% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Anther Capital Ltd | $340.4 Mil | 8.9% | 31 | New | 13F |
| Tairen Capital Ltd | $88.3 Mil | 9.6% | 44 | New | 13F |
| Prime Capital Management Co Ltd | $85.3 Mil | 9.6% | 7 | New | 13F |
| Crake Asset Management LLP | $64.9 Mil | 2.3% | 20 | New | 13F |
| E20 Capital Ltd | $44.6 Mil | 4.2% | 22 | New | 13F |
| Element Capital Management LLC | $9.8 Mil | 3.8% | 34 | New | 13F |
| FFG Partners, LLC | $9.7 Mil | 3.9% | 35 | New | 13F |
| KCM Capital Inc | $50.7 Mil | 9.5% | 31 | ADD +66.7% | 13F |
| Halter Ferguson Financial Inc. | $21.9 Mil | 4.8% | 36 | ADD +56.3% | 13F |
| Headwater Capital Co Ltd | $36.1 Mil | 5.8% | 15 | ADD +37.2% | 13F |
| Trivest Advisors Ltd | $264.9 Mil | 19.1% | 29 | ADD +28.1% | 13F |
| Tensor Edge Capital, LLC | $78.8 Mil | 13.5% | 17 | ADD +16.6% | 13F |
| PARUS FINANCE (UK) Ltd | $16.6 Mil | 5.0% | 37 | ADD +13.8% | 13F |
| Appaloosa LP | $562.5 Mil | 9.5% | 31 | ADD +11.0% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Value Aligned Research Advisors, LLC | $62.4 Mil | 1.3% | 47 | Exited | Dec 31, 2025 | 13F |
| Shapiro Capital Management LLC | $36.0 Mil | 1.9% | 48 | Exited | Dec 31, 2025 | 13F |
| Talos Eurisko Asset Management LP | $22.8 Mil | 4.0% | 24 | Exited | Dec 31, 2025 | 13F |
| Alta Park Capital, LP | $15.5 Mil | 1.9% | 34 | Exited | Dec 31, 2025 | 13F |
| Fund 1 Investments, LLC | $12.6 Mil | 1.8% | 49 | Exited | Dec 31, 2025 | 13F |
| Overbrook Management Corp | $12.1 Mil | 2.1% | 46 | Exited | Dec 31, 2025 | 13F |
| Melqart Asset Management (UK) Ltd | $11.4 Mil | 1.1% | 44 | Exited | Dec 31, 2025 | 13F |
| MIG Capital, LLC | $10.6 Mil | 1.8% | 43 | Exited | Dec 31, 2025 | 13F |
| Nishkama Capital, LLC | $9.3 Mil | 1.3% | 49 | Exited | Dec 31, 2025 | 13F |
| Shannon River Fund Management LLC | $5.8 Mil | 0.9% | 26 | Exited | Dec 31, 2025 | 13F |
| Generali Powszechne Towarzystwo Emerytalne | $16.9 Mil | 3.0% | 28 | TRIM -66.7% | Mar 31, 2026 | 13F |
| Evergreen Quality Fund GP, Ltd. | $146.0 Mil | 3.3% | 40 | TRIM -61.1% | Mar 31, 2026 | 13F |
| Valueworks LLC | $13.0 Mil | 3.6% | 35 | TRIM -60.1% | Mar 31, 2026 | 13F |
| Analog Century Management LP | $48.7 Mil | 2.3% | 25 | TRIM -60.0% | Mar 31, 2026 | 13F |
| Spectrum Financial Alliance Ltd LLC | $42.1 Mil | 8.1% | 32 | TRIM -51.3% | Mar 31, 2026 | 13F |
| Summit Street Capital Management, LLC | $18.1 Mil | 2.6% | 31 | TRIM -42.0% | Mar 31, 2026 | 13F |
| WS Management LLLP | $121.6 Mil | 15.9% | 35 | TRIM -41.9% | Mar 31, 2026 | 13F |
| Ravenswood Partners LP | $12.0 Mil | 4.4% | 35 | TRIM -39.9% | Mar 31, 2026 | 13F |
| Thames Capital Management LLC | $17.0 Mil | 3.0% | 43 | TRIM -31.1% | Mar 31, 2026 | 13F |
| CTC LLC | $99.4 Mil | 8.0% | 25 | TRIM -16.0% | Mar 31, 2026 | 13F |
| WT Asset Management Ltd | $264.8 Mil | 5.5% | 32 | TRIM -13.1% | Mar 31, 2026 | 13F |
| DCF Advisers, LLC | $50.7 Mil | 19.1% | 72 | TRIM -10.3% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Appaloosa LP | $562.5 Mil | 9.5% | 31 | ADD +11.0% | 13F |
| Anther Capital Ltd | $340.4 Mil | 8.9% | 31 | New | 13F |
| Trivest Advisors Ltd | $264.9 Mil | 19.1% | 29 | ADD +28.1% | 13F |
| WT Asset Management Ltd | $264.8 Mil | 5.5% | 32 | TRIM -13.1% | 13F |
| Evergreen Quality Fund GP, Ltd. | $146.0 Mil | 3.3% | 40 | TRIM -61.1% | 13F |
| WS Management LLLP | $121.6 Mil | 15.9% | 35 | TRIM -41.9% | 13F |
| CTC LLC | $99.4 Mil | 8.0% | 25 | TRIM -16.0% | 13F |
| Tairen Capital Ltd | $88.3 Mil | 9.6% | 44 | New | 13F |
| Prime Capital Management Co Ltd | $85.3 Mil | 9.6% | 7 | New | 13F |
| Tensor Edge Capital, LLC | $78.8 Mil | 13.5% | 17 | ADD +16.6% | 13F |
| Oak Grove Capital LLC | $75.2 Mil | 12.9% | 82 | Hold | 13F |
| Crake Asset Management LLP | $64.9 Mil | 2.3% | 20 | New | 13F |
| Crosslink Capital Inc | $56.6 Mil | 5.5% | 21 | Hold | 13F |
| DCF Advisers, LLC | $50.7 Mil | 19.1% | 72 | TRIM -10.3% | 13F |
| KCM Capital Inc | $50.7 Mil | 9.5% | 31 | ADD +66.7% | 13F |
| Analog Century Management LP | $48.7 Mil | 2.3% | 25 | TRIM -60.0% | 13F |
| E20 Capital Ltd | $44.6 Mil | 4.2% | 22 | New | 13F |
| Spectrum Financial Alliance Ltd LLC | $42.1 Mil | 8.1% | 32 | TRIM -51.3% | 13F |
| Horiko Capital Management LLC | $41.5 Mil | 9.6% | 20 | Hold | 13F |
| Headwater Capital Co Ltd | $36.1 Mil | 5.8% | 15 | ADD +37.2% | 13F |
| California First Leasing Corp | $27.7 Mil | 8.9% | 39 | Hold | 13F |
| Halter Ferguson Financial Inc. | $21.9 Mil | 4.8% | 36 | ADD +56.3% | 13F |
| Summit Street Capital Management, LLC | $18.1 Mil | 2.6% | 31 | TRIM -42.0% | 13F |
| Thames Capital Management LLC | $17.0 Mil | 3.0% | 43 | TRIM -31.1% | 13F |
| Generali Powszechne Towarzystwo Emerytalne | $16.9 Mil | 3.0% | 28 | TRIM -66.7% | 13F |
MU Trade Sentinel
High Conviction
CONVICTION RATIONALE
Micron is capitalizing on a severe, AI-driven memory shortage by fundamentally changing its business model. New multi-year, take-or-pay agreements create approximately $100 billion in revenue backlog. These contracts lock in floor prices that management states will yield gross margins well above any previous cycle's peak, structurally improving profitability and visibility.
STOCK ARCHETYPE
Cyclical Manufacturer with a rapidly growing base of long-term contractual revenue.Volume (Bit Shipments) x Price (Average Selling Price) Mix shift to high-value, high-margin data center products (especially HBM) and exercising significant pricing power in an undersupplied market.
INVESTMENT THESIS
Evidence suggests a structural shift, with multi-year, take-or-pay contracts locking in unprecedented revenue and margin floors amid a persistent supply shortage.
- Signed agreements create a remaining performance obligation of approximately $100 billion.
- Q3 DRAM average selling prices rose in the low-60% range sequentially.
- Q3 NAND average selling prices rose in the mid-80% range sequentially.
- Management expects tight supply conditions to persist beyond calendar 2027.
- Q4 2026 gross margin is guided to be approximately 86%.
PRIMARY RISK
After a 665% twelve-month stock run, bears argue this is a classic cyclical peak. They point to management's own forecast for a 'meaningful moderation in the rate of price increases' as the first sign that the historic boom-bust dynamic will reassert itself, crushing non-contracted pricing.
- The stock returned 665.0% over the last twelve months.
- Options market implied volatility is at the 100th percentile of its range.
- Q4 guidance reflects a 'meaningful moderation in the rate of price increases'.
- The stock is -28.7% away from its 52-week high.
| KPI | Status | Rationale |
|---|---|---|
| Revenue Growth (Year-over-Year) | 196.3% year-over-year growth for the latest quarter ended 6/30/2026. - Accelerating | The revenue growth trajectory shows a powerful acceleration, driven by what management describes as an AI-fueled demand surge that is outpacing industry supply. This has led to substantial improvements in pricing. |
| DRAM Average Selling Price (ASP) Growth | low-60% range increase (Q3 2026 (sequential)) | Indicates the pricing power and profitability for the company's largest product line, reflecting the severe supply/demand imbalance. |
| NAND Average Selling Price (ASP) Growth | mid-80% range increase (Q3 2026 (sequential)) | Shows pricing strength in the storage market, also benefiting from strong demand and constrained supply. |
| Inventory-vs-Revenue Growth Divergence | -204.5 percentage points (Q3 2026) | A large negative divergence, where revenue grows massively while inventory shrinks, is a strong indicator of an undersupplied market and robust demand, suggesting pricing power will persist. |
Contractual Floor vs. Cyclical Ceiling
BULL VIEW
Bulls believe the ~$100 billion in take-or-pay contracts with high margin floors creates a durable earnings base that will buffer the company through any future cyclical weakness, justifying a permanently higher valuation.
CORE TENSION
Can the new ~$100B contractual backlog structurally de-risk the model, or will historical cyclicality, which drove a -4% post-earnings drop in March, ultimately prevail?
PREVAILING SENTIMENT
The latest evidence favors the bulls. The sheer scale of the ~$100 billion backlog and its unprecedented margin floors represent a fundamental, verifiable change to the business model.
BEAR VIEW
Bears argue that historical cyclicality will overwhelm the contracts. They believe non-contracted revenue will see prices collapse, and the stock will de-rate as the market anticipates the end of the upcycle.
| Timeline | Event & Metric To Watch |
|---|---|
Oct-Nov 2026 | Peer Signals Market Inflection Watch: Peers (NVDA, INTC, WDC) reporting inventory builds, softening data center demand, or a change in pricing tone. |
9/21/2026 | Post-Earnings Sentiment Shift Watch: Guidance for FQ1 2027 revenue or gross margin that implies deceleration from extremely high current growth rates. |
10/21/2026 | Intel Earnings Report Watch: Peer Intel (INTC) is scheduled to report earnings on 10/21/2026 per the earnings calendar. |
10/28/2026 | Western Digital Earnings Watch: Peer Western Digital (WDC) is scheduled to report earnings on 10/28/2026 per the earnings calendar. |
No set date | Adverse Litigation Ruling Watch: Court filings or rulings related to the Netlist appeal or the various YMTC patent infringement cases. |
No set date | New Geopolitical Trade Action Watch: News or regulatory filings from the US, China, or other jurisdictions announcing new tariffs, export controls, or entity listings. |
Monday, August 10 | KeyBanc Investor Conference Watch: Company executives will participate at the KeyBanc Capital Markets Technology Leadership Forum in Deer Valley, Utah. |
| Date | Event | Stock Impact |
|---|---|---|
2026-07-16 | Automotive Strategic Agreements Details: Micron announced it completed Strategic Customer Agreements (SCAs) with key automotive Tier 1 suppliers including Qualcomm, Visteon, HARMAN, and Hyundai Mobis to support long-term supply. | -6.1% $904.28 -> $848.95 |
2026-07-09 | US Investment Plan Accelerated Details: Micron increased its planned U.S. investment to over $250 billion through 2035 and announced the first concrete pour at its Clay, New York site, ahead of schedule. | +3.2% $948.80 -> $979.30 |
2026-06-24 | Record Q3 Results and Guidance Details: The company reported record revenue of $41.46 billion, and raised guidance for Q4 revenue by 49.3%. The stock had a two-day positive reaction of 15.0%. | +15.4% $1051.61 -> $1213.37 |
2026-06-22 | Strategic Agreement with Anthropic Details: Micron announced a strategic agreement with Anthropic covering AI architecture design, supply, and a strategic investment in Anthropic's Series H funding round. | -7.3% $1133.82 -> $1051.61 |
2026-05-22 | Virginia Fab Manufacturing Milestone Details: Micron started manufacturing of 1α (1-alpha) DRAM, its most advanced memory produced in the United States, at its Manassas, Virginia, fab. | +17.6% $761.98 -> $895.74 |
2026-03-18 | Q2 Earnings and Negative Reaction Details: Following the March 18, 2026 earnings call, the stock dropped, with a two-day reaction of -4.0%. News reports indicated investors focused on a potential margin peak and pricing trends. | -3.8% $461.43 -> $444.02 |
2026-02-11 | Stock Rallies on AI Visibility Details: The stock closed up 10.04% on February 11, 2026, as news highlighted that AI data center expansion reinforced AI revenue visibility. | +10.9% $373.04 -> $413.73 |
2026-01-22 | Strong Q1 Results Drive Optimism Details: News reports highlighted extraordinary Q1 results with 57% revenue growth and 167% YoY EPS expansion, driven by surging AI-related memory demand. | +2.7% $388.89 -> $399.42 |
Position Sizing
1% - 2%
MINIMAL POSITION
Sizing is volatility-based: MU trades at roughly 101% annualized options-implied volatility versus about 15% for the S&P 500 (6.9x the market), around the 100th percentile of its own trailing year. A 1% - 2% position keeps a single-name swing of that size within a diversified portfolio's risk budget.
Diversification Alternatives
NVDA - NVIDIA
AI Ecosystem LeaderNVIDIA offers a less capital-intensive, design-focused model with higher gross margins (74.1%) and dominant market share in the AI accelerators that drive memory demand.
INTC - Intel
Turnaround & Domestic SupplyIntel provides exposure to a broad semiconductor turnaround, supported by the U.S. CHIPS Act, with a different product focus on logic and CPUs rather than just memory.
A structurally transformed memory leader capitalizing on a multi-year, AI-driven supply shortage by locking in unprecedented long-term revenue and margin floors.
Micron is no longer just a cyclical commodity memory producer. The explosive, AI-driven demand for high-performance memory like HBM has created a structural and persistent supply-demand imbalance. Leveraging its technology leadership, Micron is fundamentally altering its business model by signing multi-year, take-or-pay Strategic Customer Agreements (SCAs) with major customers. These contracts, backed by billions in cash deposits, provide a durable revenue stream with gross margin floors that exceed any previous cycle's peak, significantly de-risking the business and enhancing financial predictability.
Announcements of additional large-scale SCAs, continued upward revisions to AI infrastructure spending by hyperscalers, or competitors signaling persistent supply constraints.
A sudden, unexpected slowdown in AI-related demand, a competitor achieving a significant technology breakthrough in HBM that leapfrogs Micron, or evidence of a rapid, large-scale increase in industry-wide memory production capacity.
Short-term stock price volatility unrelated to the fundamental supply/demand picture or the status of SCAs. Minor quarterly fluctuations in non-data center end markets like PC or mobile units.
Repricing Catalyst
The announcement and quantification of the Strategic Customer Agreements (SCAs), which provide approximately $100 billion in Remaining Performance Obligations (RPO), fundamentally changing the company's risk profile and revenue visibility from cyclical to partially contractual.
Cloud Memory Business Unit (CMBU)
$21.0B TTM (36% of Total) · 56% MarginWhat It Is
Sells memory solutions, including High-Bandwidth Memory (HBM), DDR, LPDDR, and GDDR, to large hyperscale cloud customers and provides HBM for all data center customers.
Who Pays & How
Large hyperscale cloud companies pay for high-performance memory to power their AI and cloud infrastructure. These solutions are critical for data-centric workloads and turning data into insight, with AI servers requiring significantly increasing quantities of DRAM and HBM.
Competition
Core Data Center Business Unit (CDBU)
$11.2B TTM (19% of Total) · 48% MarginWhat It Is
Sells memory solutions (primarily DDR5 and DDR4) to mid-tier cloud, enterprise, and OEM data center customers, and storage solutions (data center SSDs and NAND components) to all data center customers.
Who Pays & How
Enterprise and OEM data center customers pay for memory and high-performance storage to support the rapid proliferation of AI, cloud computing, and big data, which fuel demand for high-capacity SSDs.
Competition
Mobile and Client Business Unit (MCBU)
$19.0B TTM (33% of Total) · 50% MarginWhat It Is
Sells memory (LPDDR) and storage (managed NAND, SSDs) solutions for the mobile (smartphones) and client (PCs) segments, as well as Crucial-branded consumer products.
Who Pays & How
Smartphone and PC OEMs pay for memory and storage to enable their devices. AI adoption is a strong driver for content growth, as on-device AI capabilities require increased memory and storage capacity for better security and responsiveness.
Competition
Automotive and Embedded Business Unit (AEBU)
$7.0B TTM (12% of Total) · 39% MarginWhat It Is
Sells memory and storage solutions (DRAM, NAND, NOR, SSDs) for the automotive, industrial, and consumer segments, targeting the 'intelligent edge'.
Who Pays & How
Automotive Tier 1 suppliers and OEMs pay for high-reliability memory to support autonomous driving, ADAS, and in-vehicle infotainment. Industrial customers pay for solutions enabling IoT, automation, and smart infrastructure.
Competition
Micron Technology — Investor Video Playlist
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Semiconductors Resources |
| EE Times |
| Semiconductor Engineering |
| Semiconductor Digest |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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