Micron Technology, Inc. (MU) AI Stock Analysis

Headquartered in Boise, Idaho, Micron Technology, Inc. specializes in memory and storage solutions powering global applications across cloud computing, enterprise storage, mobile devices, automotive electronics, and industrial markets. The company develops DRAM, NAND, and NOR memory technologies across four primary units. Its Compute and Networking Business Unit delivers high-performance memory for cloud servers and networking infrastructure. The Mobile Business Unit supplies memory components for smartphones, while the Embedded Business Unit provides solutions tailored for automotive, industrial, and consumer electronics. In addition, the Storage Business Unit produces solid-state drives (SSDs) and component-level solutions for enterprise and consumer storage.

Micron experienced significant fluctuations before accelerating sharply. Revenue fell 49.5% to $15.54B in FY2023 with net income of -$5.83B, down from $30.76B in FY2022. Performance rebounded in FY2024 with revenue rising 61.6% to $25.11B, followed by $37.38B in FY2025. In FY2026, revenue surged 256.3% to $133.19B, delivering a 5-year revenue CAGR of 36.9% from FY2021 to FY2026. Gross margin expanded to 80.7% and operating margin reached 75.0% in FY2026, supporting net income of $84.97B and EPS of $75.28. For the latest quarter ended August 31, 2026, quarterly revenue grew 379.3% year-over-year while quarterly earnings rose 1059.5%.

As of August 31, 2026, Micron held $43.43B in cash and short-term investments against $5.18B in total debt, yielding net cash of $38.26B. Liquidity is supported by a current ratio of 3.31 and a debt-to-equity ratio of 0.04. In FY2026, operating cash flow totaled $89.67B, which funded $30.71B in capital expenditures and yielded free cash flow of $58.96B. Cash returns to shareholders included $1.78B in share buybacks and $610.0M in dividends paid, while research and development expense reached $5.65B.

Micron trades at a trailing P/E of 11.8x, compared to 43.3x for the median of its Nasdaq-100 Technology peers. Its forward P/E of 7.0x and price-to-sales of 7.5x also trade below the peer medians of 25.7x and 12.4x, while EV/EBITDA stands at 17.8x versus the peer median of 32.8x. The stock closed at $878.84 on October 16, 2026, reflecting a 1-year return of 334.4% compared to 16.8% for the S&P 500. Over five years, Micron generated a return of 1230.0%, outperforming the S&P 500 return of 83.0%.

Micron pays a quarterly dividend with an annual forward payout of $0.60 per share, representing a dividend yield of 0.07%. The dividend payout ratio is 0.8%, and the company has paid dividends for 6 consecutive years. Its most recent ex-dividend date was October 14, 2026, following total dividends paid of $610.0M during FY2026.

Wall Street coverage consists of 36 Strong Buy, 9 Buy, 3 Hold, and 1 Sell ratings. The mean price target of $1560.57 implies an upside of 77.6% above the last close of $878.84. For the fiscal year ending August 31, 2027, consensus estimates project revenue of $275.50B and EPS of $176.55, reflecting expected EPS growth of 133.8%. Micron beat EPS estimates in each of the last 4 quarters.

This page is an AI-written research summary of Micron Technology, Inc. (MU). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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