Micron Technology designs and manufactures memory and storage chips, mainly DRAM and NAND flash, used in data centers, PCs, phones, cars and industrial equipment. It is one of only three companies that make HBM, the stacked high-bandwidth memory placed beside processors in AI servers, and it is the largest memory chipmaker based in the United States. Unlike chip designers that outsource production, Micron runs its own fabs and assembly sites in the United States and across Asia. It earns money by selling chips, memory modules and solid-state drives to cloud providers, device makers and distributors. Micron was founded in 1978 and is headquartered in Boise, Idaho.
Company Size
10,001+
Company Stage
IPO
Headquarters
Boise, Idaho
Founded
1978
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ETFs sold a net $69.5 million of Micron Technology (MU) on Wednesday, October 14, with 46 funds buying and 16 selling. The sales ended three straight days of net buying. QQQ was the largest seller at $183.9 million, followed by CGGR at $60.3 million and BAI at $11.6 million. QQQ cut 201,135 shares, leaving it with 23,603,066. Net buying was $329.6 million on October 13, $66.8 million on October 12, and $157.4 million on October 9. Micron has a market cap of $1.05 trillion. Trailing 12-month revenue reached $133.19 billion, up 250.7% year over year, and the shares are up 226.52% this year.
Micron Technology shares closed at $914.13 on October 14, about 25% below the record close of $1,213.56 set on June 25. The drop came even as the memory maker beat its own outlook for fiscal fourth-quarter results. Micron posted $54.2 billion in revenue and adjusted earnings of $33.42 per share, topping guidance of $50 billion and about $31. It forecasts about $61.5 billion in revenue for the first quarter of fiscal 2027. The sell-off appears tied to slowing DRAM price gains, which rose by a high-teens percentage last quarter versus the low 60s before. Capital spending is also rising, and rival CXMT plans new server memory by the end of 2026. The stock now trades at about 12 times fiscal 2026 earnings, down from 27 times at its peak.
Cathie Wood, founder and chief executive officer of ARK Invest, said memory chip demand is rising but the cycles are "vicious." Speaking to investors in Hong Kong on October 13, she said more competitors, especially from China, would increase volatility. Micron shares have risen 385% over the past year and SanDisk shares nearly 965%. Both have fallen sharply in the past week. Micron's non-GAAP gross margin hit 87.0% in fiscal Q4 2026, up from 45.7% a year earlier. To blunt a downturn, it signed 26 customer agreements backed by $32 billion in commitments. SanDisk's agreements carry $16.5 billion in financial guarantees. State-backed CXMT plans server-grade DDR5 chips before the end of 2026, though large-scale output is unproven.
Micron Technology reported fiscal 2026 revenue of $133.2 billion, up 256% from a year earlier. Earnings per share rose from $7.59 to $74.33, and the company's market value reached about $1.1 trillion. Fourth-quarter revenue was $54.23 billion, up 379% year over year. Gross margin for the year hit 81.1%. Micron guides first-quarter fiscal 2027 revenue of $60 billion to $63 billion. The surge reflects a shortage of memory chips for AI data centres, and mostly higher prices rather than volume. Micron also announced a custom HBM4E product for Nvidia. At about $950 a share, a $2,000 stake could be worth roughly $2,690 by 2029 in a bull case, or $890 if supply catches up and prices fall.
Micron Technology shares fell below $1,000 on October 12 for the first time since September 17, after China's ChangXin Memory Technologies (CXMT) announced a technological advance. The advance is expected to enable memory chips that store more data in less space. Micron fell 3.9% on Monday and by a similar amount on Tuesday, but is still up 230% this year, with a market cap of about $1.1 trillion. The company reported record fourth-quarter fiscal 2026 results on September 30. Revenue rose 379.3% year over year to $54.2 billion, beating estimates of $50.95 billion. Non-GAAP earnings per share were $33.42, against a forecast of $31.82. Micron expects first-quarter fiscal 2027 revenue of $61.5 billion, plus or minus $1.5 billion. Of 42 analysts, 34 rate the stock "Strong Buy"; the average price target is $1,563.22.