Micron Technology Inc (MU) Fair Value & Analysis
Technology · US · Market cap $964B · ISIN US5951121038
What is Micron Technology Inc really worth?
Micron Technology Inc
MU · US
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
A solid business, but trading 546% above our fair value of $148.38.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 26 valuation models · updated 6 days ago
Share price +7.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($257.19). The favourable scenario is already priced in.
- The model range is unusually wide ($66.16 to $257.19). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range $47.94 – $1,213 · fair‑value band $66.16 – $257.19 · the $958.16 price screens above the $148.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Micron Technology Inc (MU) currently trades at $958.16, while our model-based Fair Value estimate is $148.38, implying the stock looks roughly 545.6% overvalued today. The Quality Score stands at 74/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of $184.03 per share, and 0 of the 26 models we run sit above the $958.16 price. Bear case: the Asset-Based group reads lowest at $32.13, and 26 of the 26 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Micron Technology Inc generated revenue of $58.1B at a net margin of 41.5%. Revenue grew 196.3% year over year. It earns a return on equity of 39.8%. Net debt stands at $5.6B. Fundamentals as of Aug 30, 2026
Our scenario range runs from $66.16 (bear case) to $257.19 (bull case); at $958.16, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 12% below its 52-week high, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −59% fair-value upside, at −85%, MU screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly $20.72 per share, which is 14.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($184.03) versus Dividend Discount ($7.95). Highest evidence: FCF DCF (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally. It operates through the Cloud Memory Business Unit; Core Data Center Business Unit; Mobile and Client Business Unit; and Automotive and Embedded Business Unit segments.
Full company description
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally. It operates through the Cloud Memory Business Unit; Core Data Center Business Unit; Mobile and Client Business Unit; and Automotive and Embedded Business Unit segments. The company provides memory products, including dynamic random access memory components and modules, CXL-based memory, LPDDR components and modules, graphics memory, high-bandwidth memory, and data center memory products; multichip packages (MCP) comprising embedded multimedia card-based, universal flash storage-based, and NAND-based MCPs; and technology leadership products that include 1y DRAM and G9 NAND technologies. It also offers storage products, such as data center solid-state drives (SSD), client SSD storage, and auto and industrial SSD storage; managed NAND; NAND flash; NOR flash; and memory cards. In addition, the company provides design tools, including FBGA and part decoders; DRAM power calculators; NAND power calculators; simulation models; chipset compatibility guides; serial presence-detection tools; cross-reference tools; UFSparm; SSD firmware; software and drivers; storage executive software; and obsolete part catalogs. It markets its semiconductor memory and storage products under the Micron and Crucial brands. The company serves the data center, PC, graphics, networking, automotive, industrial, and consumer embedded markets, as well as the smartphone and other mobile-device markets. It sells its products through its direct sales force, independent sales representatives, distributors, and retailers; web-based customer direct sales channel; and channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Micron Technology Inc reported revenue of $37.4B in FY2025 versus $27.7B in FY2021, a compound +7.8%/yr. Reported net income was $8.5B in FY2025, compounding +9.9%/yr from FY2021.
of which total revenue +6.7 % · buybacks/dilution +0.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
MU screens 546% overvalued. Compare with NVIDIA Corporation →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Micron Stock Closes Above $1,000. Why It’s Not What It Seems.
- Dow Jones Futures: Nvidia, Micron, Sandisk Flash Buy Signals; Apple, Inflation Reports Ahead
- Analyst Has Strong Take on Micron, SanDisk Stocks
- Micron Rockets 4.2% as GPT-6 Reignites the Memory Trade
Peer Group
Semiconductors · 325 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Semiconductors median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 44/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NVIDIA Corporation NVDA | $227.98 | $98.98 | −57% |
| Taiwan Semiconductor Manufacturing Company TSM | $427.30 | $296.10 | −31% |
| Broadcom Inc AVGO | $371.54 | $118.27 | −68% |
| SK hynix Inc 000660 | 1,647,000 KRW | 1,481,291 KRW | −10% |
| Advanced Micro Devices, Inc AMD | $476.67 | $55.02 | −88% |
| Intel Corporation INTC | $92.09 | $35.41 | −62% |
| Texas Instruments Incorporated TXN | $266.54 | $78.54 | −71% |
| QUALCOMM Incorporated QCOM | $164.78 | $147.20 | −11% |
| MediaTek Inc 2454 | 3,845 TWD | 1,559 TWD | −59% |
| Analog Devices, Inc ADI | $354.52 | $130.34 | −63% |
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