Micron Technology (MU)
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-04
$1016.59+6.10%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-04
Research Workspace
Put MU beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Semiconductors is in supercycle. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Primary pillar under pressure — Maintain and improve gross margin around 80-86%: 84.6% vs 86% target.
View ThesisRevenue growth is accelerating — up about 167% over the past year.
View GrowthMiddle-of-the-pack quality for its industry.
View QualityManagement screens strong on capital allocation, earnings delivery, guidance credibility.
View ManagementExpectations look reasonable — what the market is pricing in sits in line with or below what analysts forecast.
View ValuationThis stock is highly volatile — it swings about 4% on a typical day and fell roughly 39% in its worst 12-month stretch.
View RiskMicron Technology's growth depends on its AI memory investments. The company is investing $250 million in areas shaping AI's future. Revenue grew 345% year over year, and the last quarter beat expectations. Micron trades at 23× P/E, below its peer median of 49×. This suggests the price reflects less growth than expected. The primary risk is if Micron cuts guidance on the next call. Our read shows peer multiples imply a price about 14% above where it trades. The thesis is on watch due to pressure on gross margins.
Trailing returns as of 2026-09-04. MU is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 48 analysts currently covering MU (as of Sep 2026).
Based on 24 Wall Street analysts offering 12-month price targets for MU in the last 4 months.
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Compare MU with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
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| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| MU Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 11 valuation methods, at three horizons. As of 2026-09-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Semiconductors — fair value, gap to price, and forward P/E.
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
Compare the value case
Put MU next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Advances: Drive record revenue growth through AI and data center demand
Increased demand from AI boosts revenue growth potential.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-09-04. EPS is implied from price ÷ P/E. Not investment advice.
Current $1016.59
The last 12 months of price, then the range of analyst 12-month targets from today’s $1016.59.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Top 10% on quality vs scored peers
A second lens on the 12-month fair value: for companies that score high on measured quality (profitability, balance-sheet safety, earnings stability), this read trusts more of today's profit margins instead of averaging them toward their multi-year history the way the headline number does. Shown alongside the fair value above, not in place of it. A diagnostic, not a price target or a buy/sell signal.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Advances: Drive record revenue growth through AI and data center demand
Indicates positive pricing trends supporting revenue growth.
Threatens: Drive record revenue growth through AI and data center demand
China's market share impacts Micron's revenue growth potential.
Concerns over unrealistic expectations could impact future guidance.
Highlights competitive risks impacting Micron's growth potential.
Threatens: Increase revenue to $33.5 billion in Q3 2026
Guidance suggests revenue growth may not meet expectations.
Advances: Drive record revenue growth through AI and data center demand
Increased productivity supports revenue growth objective.
Nvidia's warning could impact investor sentiment and stock performance.
