Companies/Technology/Semiconductors (memory and storage)

Micron

958.20▼ 1.97%Pooled price · full market data →

What matters nowUpdated 10 h ago

  • Micron filed its fiscal 2026 10-K on Oct 9 1, and on Oct 8 its board raised the buyback authorization to $35.16 billion, with repurchases starting Dec 9, 2026 2. On Oct 7 the Taoyuan union in Taiwan voted 99% in favour of authorizing a strike over a proposed profit-sharing system, with no strike date set and further mediation planned 3.
  • MU's pooled 24/7 venue price was 953.07 at 11:51 UTC on Oct 13, down 2.50% from the 977.45 previous close; this is a pooled 24/7 venue price, not an exchange close. The stock fell 6.02% on Oct 12 alongside a chip-sector sell-off (Intel -5.16%, AMD -3.74%, NVDA -2.81%, S&P 500 -0.38%) with no Micron-specific event found, while the Oct 8 drop of 5.10% and the Oct 7 gain of 4.57% are not yet explained, with 2, 3 and 4 as candidate causes.
  • Fiscal Q4 2026 revenue was $54.23 billion, up 379% year over year ·, and trailing twelve-month revenue to Sep 3, 2026 reached $133.19 billion (up 256.3%) with EPS of $74.27 (up 877.2%). The valuation data shows a 12.8x P/E, 9.6x EV/EBITDA and a 5.47% FCF yield, with net cash of $35.57 billion and an 80.7% gross margin.
  • Capital spending is the next swing factor: Micron guided to about $25 billion of capex in fiscal H1 2027 and more than $50 billion for the full year, against $27.37 billion in fiscal 2026 6. Insiders sold 266,805 shares worth $247.7 million across 15 sales over the last 180 days with no buys, and 10 of those sales were planned.
  • Fiscal Q1 2027 earnings are estimated for Dec 16, 2026 (not confirmed), against company guidance of $61.5 billion plus or minus $1.5 billion in revenue and $37.84 plus or minus $1.00 in GAAP diluted EPS. The second Taichung HBM packaging plant is set to start HBM production in mid-October 7, US CPI for September is due Oct 14 at 12:30 UTC, and Polymarket gives 80.5% odds of no Fed rate change after the October 2026 meeting.

Micron makes DRAM and NAND flash memory and storage products: high-bandwidth memory (HBM) for AI accelerators, server DRAM, SSDs, and memory for phones, PCs, cars and industrial devices. Its fiscal 2026 (53 weeks ended September 3, 2026) revenue was $133.19 billion, with DRAM at $100.68 billion and NAND at $31.79 billion. Memory pricing is the main driver of its results, so traders track DRAM and NAND contract prices, HBM supply and its capex plans alongside the reported numbers.

How it makes money

Micron sells memory and storage chips to cloud and enterprise server makers, PC and phone manufacturers, and automotive and industrial customers. It reports four business units: Cloud Memory (HBM and server memory for AI and cloud), Core Data Center (data-center SSDs and server DRAM), Mobile and Client, and Automotive and Embedded. Revenue depends on bit shipments and average selling prices, which swing sharply with supply and demand across the memory cycle. Capital spending on fabs sets how much capacity it can add in later years.

Last 12 monthsChart & venues →

322.42759.311,196.21Applied Materials unveils $5B EPIC Center in Sunnyvale with TSMC, Intel, Samsung, Micron and SK hynix as founders1China's CXMT says its 4F² DRAM cell design will reach servers by year-end, rattling memory stocks2Micron Taoyuan union in Taiwan votes 99% in favor of strike, with no strike date set3Micron plans about $25 billion of capex in fiscal H1 2027 and more than $50 billion for the year4Micron posts record fiscal Q4 revenue of $54.23 billion and guides $61.5 billion for next quarter5Micron names Manish Bhatia President and COO and Scott DeBoer President and CTPO6Micron shares rise about 16% in pre-market trading after record quarter and guidance7Micron reports fiscal Q3 2026 results: revenue $41.46B, up 346% from a year earlier8Dec 31Mar 13May 23Aug 2Oct 12
Numbered dots: the stories that mattered. Click one.

Valuation & fundamentalsFull financials →

Market cap$1.08Tpooled price × shares
Enterprise value$1.05T+ net debt −$35.57B
P/E (TTM)12.9×EPS $74.27
EV / EBITDA9.6×EBITDA $108.84B
P / Sales8.1×EV/Sales 7.9×
P / Book7.8×equity $138.38B
FCF yield5.4%FCF $58.96B
Shareholder yield0.1%div 0.06% · buyback 0.1%
Revenue (TTM)$133.19B256.3% YoY
Last quarter revenue379.3%growth YoY
EPS growth (TTM)877.2%last Q 1059.5%
Gross margin80.7%operating 74.6%
Net margin63.8%EBITDA 81.7%
ROE88.3%on average equity
Cash$38.36Bdebt $2.79B
Shares out1.13Bdiluted —

TTM through 2026-09-03 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →

Biggest businessesAll products & projects →

scalingproduct line

DRAM

DRAM revenue rose 252% to $100.68 billion in fiscal 2026, driven by an approximate 180% rise in average selling prices.

DRAM revenue · FY2026 (53 weeks ended 2026-09-03)
$100.68 billion (about 76% of FY2026 revenue) +252% vs $28.58 billion in FY2025
DRAM average selling price · FY2026 vs FY2025
up approximately 180%
DRAM bit shipments · FY2026 vs FY2025
up in the mid-20% range
scalingproduct line

NAND and SSD

NAND revenue rose 274% to $31.79 billion in fiscal 2026 on higher prices and steady bit growth.

NAND revenue · FY2026 (53 weeks ended 2026-09-03)
$31.79 billion (about 24% of FY2026 revenue) +274% vs $8.50 billion in FY2025
NAND average selling price · FY2026 vs FY2025
up approximately 200%
NAND bit shipments · FY2026 vs FY2025
up in the mid-20% range

Next: Singapore NAND fab becomes operational (additional cleanroom space) · 2028

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Cloud Memory (CMBU)

Largest business unit in fiscal 2026 at $43.09 billion, up from $13.52 billion; fiscal Q4 revenue was $16.28 billion.

CMBU revenue · FY2026
$43.09 billion (about 32% of FY2026 revenue) +219% vs $13.52 billion in FY2025
CMBU revenue · fiscal Q4 2026
$16.28 billion +258% vs $4.54 billion in fiscal Q4 2025
scalingproduct line

Core Data Center (CDBU)

Revenue rose to $37.59 billion in fiscal 2026 from $7.23 billion; fiscal Q4 revenue was $18.00 billion.

CDBU revenue · FY2026
$37.59 billion (about 28% of FY2026 revenue) vs $7.23 billion in FY2025 (about 5.2x)
CDBU revenue · fiscal Q4 2026
$18.00 billion vs $1.58 billion in fiscal Q4 2025

Latest newsAll news →

Applied Materials unveils $5B EPIC Center in Sunnyvale with TSMC, Intel, Samsung, Micron and SK hynix as founders

Applied Materials unveiled its EPIC Center on October 12, 2026, at its Sunnyvale, California campus.

Project

Micron falls about 4% on Monday after CXMT reportedly advances stacked DRAM

Micron fell about 4% on Monday, October 12, 2026, in the morning session.

News

China's CXMT says its 4F² DRAM cell design will reach servers by year-end, rattling memory stocks

CXMT's chief executive said at the 4th Integrated Circuit and Chiplet Conference in Shanghai on October 9 to 10 that the company has made progress on a 4F² DRAM cell design using vertical surround gate transistors.

Markets

Micron lifts buyback authorization to $35.16 billion, effective December 9, 2026

Micron's board raised the maximum amount for discretionary share repurchases to $35.16 billion on October 8, 2026, according to the fiscal 2026 Form 10-K.

Capital

Micron Taoyuan union in Taiwan votes 99% in favor of strike, with no strike date set

The Taoyuan union at Micron's Taiwan operations voted on October 7, 2026 to authorize a strike, with 1,994 members in favor, or 99% of those casting ballots.

News