MU — Micron Technology, Inc.
Technology · Semiconductors
About Micron Technology, Inc.
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products in the United States, Taiwan, Japan, China, Europe and internationally. It operates through Cloud Memory, Core Data Center, Mobile & Client, and Automotive & Embedded business units. Micron's products include DRAM components and modules, high-bandwidth memory (HBM), CXL-based memory, LPDDR and graphics memory, data-center memory and NAND flash storage — the memory that AI accelerators, servers and data centers depend on.
The semiconductor industry
Semiconductors are the physical foundation of the AI build-out — the chips that train and run every model. It is a cyclical, capital-intensive industry split between fabless designers, who design chips and outsource production; foundries, who manufacture them; and integrated device makers. AI has become the dominant demand driver, concentrating spending on data-center accelerators, custom silicon, high-bandwidth memory and the networking that stitches them together. The sector is also unusually exposed to export controls, manufacturing concentration in Taiwan, and sharp boom-bust capex cycles. Micron is one of a handful of makers of DRAM and NAND memory, and its high-bandwidth memory (HBM) has become critical to AI accelerators — putting it at the center of the AI-memory upcycle, and squarely exposed to memory's notorious boom-bust cycle.
Key data · delayed ~15 min, as of 1 July 2026
| Ticker | MU |
| Company | Micron Technology, Inc. |
| Price | $1051.89 |
| Market cap | $1167.78B |
| Sector / industry | Technology / Semiconductors |
| Performance | 1W +2.2% · 1M +3.5% · 1Y +788.5% |
| Analyst mean target | $1454 (40 analysts, strong_buy) |
Valuation read
What the price implies: after a parabolic AI-memory run, MU trades on a forward P/E near 7×, so the reverse-DCF backs out roughly ~-5%/yr earnings growth — the market is pricing in flat-to-declining earnings, the classic read for a cyclical memory maker near a cycle peak (forward earnings $149.63). Run your own assumptions in the fair-value calculator.
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