Micron Technology designs and manufactures memory and storage products, including DRAM, NAND, and NOR flash. These products power devices across computing, networking, automotive, industrial, and mobile markets. The company sells to OEMs, distributors, and end users worldwide and funds ongoing research and development to meet evolving needs. Micron aims to provide scalable memory solutions and maintain an inclusive, growth‑oriented workplace for its employees.
Company Size
10,001+
Company Stage
IPO
Headquarters
Boise, Idaho
Founded
1978
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Morgan Stanley said last year that humanoid robots could become a $5 trillion market by 2050. The article names Micron, Tesla, and Alphabet as stocks that could benefit. Micron makes memory chips that robots need for AI inference and sensor processing. Its revenue rose 379% year over year in its fiscal 2026 fourth quarter, and it cites humanoid robots as a driver of future memory demand. Tesla sees its Optimus robots as its key source of value. Chief executive officer Elon Musk believes they can make Tesla a $25 trillion company; revenue rose 26% year over year in the second quarter. Alphabet offers cloud services, its Gemini AI model, and its own AI chips. Its Waymo unit delivers more than 500,000 paid robotaxi rides a week.
Semiconductor stocks fell in the week ended October 9 after a strong start to the month. The Financial Times reported that OpenAI told investors its annualised revenue was nearing $50 billion at the end of September, below the roughly $70 billion cited in media reports. Chip valuations are closely tied to expectations for AI infrastructure spending, so the PHLX Semiconductor Index finished the week lower while the broader market held up better. The index was up 73% year to date as of late September. Higher long-term Treasury yields and rising oil prices added pressure. Among individual stocks, TSMC reported September revenue of NT$511.86 billion, up 54.6% from a year earlier. Intel fell after Elon Musk suggested TSMC could join his Terafab chip project in Texas, and Arm shares dropped during its licensing trial with Qualcomm.
Micron reported fiscal fourth-quarter results on 30 September that exceeded expectations, with adjusted earnings per share of $33.42 on sales of $54.23 billion, surpassing analyst estimates of $31.61 per share on revenue of $51.07 billion. The memory chip maker's guidance for the current quarter also beat expectations. The company forecasts revenue of $61.5 billion and adjusted earnings per share of $38.15, compared to analyst estimates of $57.02 billion in revenue and $35.40 per share in earnings. A key catalyst approaching is the expiration of a share buyback restriction on 9 December. The two-year limitation was imposed as a condition of receiving CHIPS Act funding. Micron has previously stated it plans to return 100% of excess cash to shareholders through buybacks and dividends once the restriction lifts.
AI semiconductor stocks are set to extend their recent rally through year-end, with Nvidia, Micron Technology and Sandisk expected to lead gains, according to Lynx Equity Strategies analyst KC Rajkumar. The sector has shrugged off concerns about higher bond yields, with stocks being bought in waves. Micron rose roughly 4% recently after breaking out of its trading range in early September. Samsung reported preliminary third-quarter operating profit up roughly ninefold year over year, whilst Micron's August-quarter operating profit rose about 11%. Taiwan Semiconductor Manufacturing reported third-quarter revenue growth of 51% year over year, above guidance. Rajkumar said AI semiconductors are emerging from a period of investor scepticism and are no longer the crowded trade they were several months ago.
Micron Technology reported record NAND revenue of $14.1 billion in fiscal Q4 2026, up 526% year-over-year, outpacing its 343% DRAM growth. Data centre SSD revenue reached nearly $10 billion, over two-thirds of NAND revenue, driven by AI workloads. CFO Mark Murphy noted NAND bit shipments rose about 10% from the previous quarter, whilst prices increased approximately 30% due to tight industry conditions. The price gain represents the most exposed metric, as it could reverse if supply catches up. Analyst consensus forecasts Micron's normalised earnings per share near $206 in fiscal 2028, dropping to around $139 in fiscal 2030. At $1,088, the stock trades under 8 times the fiscal 2030 estimate. The main risk centres on pricing once Micron's Singapore NAND facility begins output in the second half of calendar 2028.