NASDAQ · MU
Micron Technology, Inc.
Technology · Semiconductors
$884.74▼ 5.30% ($49.53)at close
After hours$889.15▲ 0.50%7:59 PM ET
Valuation
Revenue & margin DCF
Verdict: expensive. Price above all scenarios.
The price needs 23.9% revenue growth a year for 10 years. Our scenarios assume 14.1–24.4%.
That's below its past 4-year pace of 44.3%.
Value per share
Base case
$733.77
Price used $884.74 is 21% above this
USD · TTM ending Sep 3, 2026 · Price Oct 30, 8:00 PM UTC
Revenue each value needs
Revenue today $133B. The price needs $1.1T by 2036. Base case: $799B. At its recent pace: $5.2T. Bear to Bull: $496B to $1.2T.
Revenue today $133B. The price needs $1.1T by 2036. Base case: $799B. At its recent pace: $5.2T. Bear to Bull: $496B to $1.2T.
Revenue in 2036
today $133B
+$339Bmore than the Base case · 1.4×
Value per share · Base case
$733.77
Price $884.74
21% above this
- 10-yr revenue CAGR
- 19.6%
- Ending operating margin
- 30.0%
- Discount rate
- 14.2%
USD · TTM ending Sep 3, 2026 · Price Oct 30, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 294.96% over the last year. Revenue grew 256.33% in FY2026 versus FY2025. Operating margin moved from 26.41% to 74.59% (FY2026 versus FY2025). Free cash flow grew 3,434.95% in FY2026 versus FY2025.
What the market seems to be pricing
The stock move broadly lines up with stronger business momentum, and the shares are still only around the 39th percentile of their historical P/FCF range.
What would invalidate this read
Operating margin is at 74.59%. Revenue grew 256.33% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.
Return analysis
Company profile
Micron Technology, Inc. is a global leader specializing in the development, manufacture, and sale of advanced semiconductor memory and storage solutions.
Market multiples
Stock splits
Every 1 shares became 2
Every 1 shares became 2
Every 2 shares became 5
Profitability & growth
Analyst consensus
58
Buy
10
Hold
2
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Actuals vs estimates by quarter, or any quarter against the same one a year earlier.
Next report
Dec 23, 2026
Q1 FY27 · EPS est $38.20 · Revenue est $61.5B
Same quarter, year over year
FY26 Full year +810.9%Each cell vs the same quarter a year earlier (the cell below) · Q1–Q4 combined $75.51 vs $8.29 · all 4 quarters up
Q1
Q2
Q3
Q4
FY total
FY27
—
—
—
—
FY26
FY25
FY24
Fiscal year totals
- FY26
- $75.51
- +810.9%
- FY25
- $8.29
- +552.8%
- FY24
- $1.27
- —
n/m: last year’s figure was zero, a loss or too small to compare against
Q4 FY26
Reported Sep 30, 2026 · Latest
HoverTap a cell to inspect
Actual
$33.42
Estimate
$31.77
Year over year
n/m
Vs prior quarter
+33.1%
Institutional Sentiment
Micron Technology, Inc. · MU
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.