NASDAQ · Technology
Micron Technology stock overview: financials, insider activity, and peer context
Micron produces DRAM, NAND, and memory solutions used in data centers, PCs, mobile devices, autos, industrial systems, and AI infrastructure. This page connects filing evidence with ownership, insider activity, forecasts, ETFs, and peer context so each dataset can be checked against the others.
Deterministic, source-linked commentary
What the latest evidence says about MU
The newest reported numbers give MU a clearer starting point. 10-Q covers CY2026Q1. quarterly revenue was $23.9B; year-over-year growth was 196.3%; operating margin was 67.6%; trailing free cash flow was $2.7B. Read together, these figures test whether scale is translating into profit and cash. Verify periods and company footnotes in the original SEC EDGAR filing.
The valuation range should move when MU's operating assumptions move. The forecast scenarios were updated 2026-06-25. Revenue growth, margins, cash generation, and risk assumptions must be checked against each new filing. Compare them with the latest earnings analysis.
Cross-checking the company pages keeps timing differences visible. Use institutional ownership, insider filings, earnings analysis, forecast scenarios alongside the filing. Company facts can update before 13F positions, so align every source date and report period before treating a difference as a change in fundamentals.
Business model
Company snapshot
Micron produces DRAM, NAND, and memory solutions used in data centers, PCs, mobile devices, autos, industrial systems, and AI infrastructure. The latest standardized snapshot records $54.86B of trailing revenue, $22.49B of net income, and $2.7B of free cash flow. These figures describe the reported company, while valuation and price require a separate market-data timestamp.
Operating lines
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
Geographic revenue mix
The current standardized filing dataset does not extract a comparable geographic revenue table for every issuer. Review the latest 10-K segment note for domestic and international mix, concentration, foreign-exchange sensitivity, and country-specific regulation.
10-Q · 2026-03-19
What the latest filing shows
Revenue for the latest standardized quarter was $23.86B, while diluted EPS was 12.07. Revenue changed 196.3% from the comparable period. Gross margin was 74.4% and operating margin was 67.6%. Margin direction matters because it shows whether growth is translating into operating leverage or requiring more cost to support.
Open original SEC filingEarnings & filings
MU earnings calls, releases, and filing evidence
Earnings calls
No authorized call transcript summary is available yet for this ticker.
Filings & announcements
Q3 FY2026 · Earnings Release Summary
Micron disclosed FY2026 Q3 revenue of $41.456B, GAAP gross margin of 84.6%, and GAAP diluted EPS of $24.67.; Cloud Memory revenue was $13.769B and Core Data Center revenue was $11.524B; the two data-center lines together exceeded $25B.; Micron reported capex, net of $7.1B, adjusted free cash flow of $18.3B, and $30.2B of cash, marketable investments, and restricted cash.
Source: Micron fiscal Q3 2026 results · 2026-06-25Q2 FY2026 · Earnings Release Summary
Revenue was $23.86B versus $13.64B in the prior quarter and $8.05B a year earlier.; GAAP gross margin was 74.4% and non-GAAP gross margin was 74.9%.; GAAP diluted EPS was $12.07 and non-GAAP diluted EPS was $12.20.
Source: Micron fiscal Q2 2026 results · 2026-03-18Q1 FY2026 · Earnings Release Summary
Revenue was $13.64B versus $11.32B in the prior quarter and $8.71B a year earlier.; GAAP gross margin was 56.0% and non-GAAP gross margin was 56.8%.; GAAP diluted EPS was $4.60 and non-GAAP diluted EPS was $4.78.
Source: Micron fiscal Q1 2026 results · 2025-12-17Q4 FY2025 · Earnings Release Summary
Micron reported fiscal Q4 2025 revenue of $11.32B.; GAAP gross margin was 44.7% and non-GAAP gross margin was 45.7%.; GAAP diluted EPS was $2.83 and non-GAAP diluted EPS was $3.03.
Source: Micron fiscal Q4 and FY2025 results · 2025-09-23Q3 FY2025 · Earnings Release Summary
Revenue was $9.30B versus $8.05B in the prior quarter and $6.81B a year earlier.; GAAP diluted EPS was $1.68 and non-GAAP diluted EPS was $1.91.; Operating cash flow was $4.61B versus $3.94B in the prior quarter.
Source: Micron fiscal Q3 2025 results · 2025-06-25Earnings history
| Date | Period | Status | Revenue | EPS | Source |
|---|---|---|---|---|---|
| 2026-06-25 | Q3 FY2026 | Reported | $41.456B | $24.67. | Micron fiscal Q3 2026 results |
| 2026-03-18 | Q2 FY2026 | Reported | $23.86B | $12.07 | Micron fiscal Q2 2026 results |
| 2025-12-17 | Q1 FY2026 | Reported | $13.64B | $4.60 | Micron fiscal Q1 2026 results |
| 2025-09-23 | Q4 FY2025 | Reported | $11.32B | $2.83 | Micron fiscal Q4 and FY2025 results |
| 2025-06-25 | Q3 FY2025 | Reported | $9.30B | $1.68 | Micron fiscal Q3 2025 results |
| 2025-03-20 | Q2 FY2025 | Reported | $8.05B | $1.56, | Micron fiscal Q2 2025 results |
CY2026Q1
Earnings analysis
| Period | Revenue | Net income | EPS | Operating margin |
|---|---|---|---|---|
| CY2026Q1 | $23.86B | $13.79B | 12.07 | 67.6% |
| TTM | $54.86B | $22.49B | 19.76 | 47.8% |
| CY2025 | $37.38B | $8.54B | See filing | 26.1% |
Micron Technology's fiscal Q3 2026 report should be read as a stock-outlook reset, not just a beat-or-miss event. The key facts are $41.456B revenue, versus $23.860B last quarter and $9.301B a year ago, GAAP gross margin reached 84.6%, with Cloud Memory revenue of $13.769B and Core Data Center revenue of $11.524B, $24.67 GAAP diluted EPS, $25.11 non-GAAP diluted EPS, $25.388B operating cash flow, and $18.304B adjusted free cash flow, and fiscal Q4 guidance calls for $50.0B +/- $1.0B of revenue, gross margin near 86%, and $31.00 +/- $1.00 non-GAAP diluted EPS. Bottom line: the report improves the setup only if those numbers support whether Micron's AI memory shortage economics can stay durable enough to justify the post-earnings valuation reset.
Read detailed earnings analysisScenario analysis
Forecast range
After Micron's record fiscal Q3 2026 report, a practical 2026 scenario map is $786-944 in a bear case, $965-1,206 in a base case, and $1,237-1,520 in a bull case. The new forecast is anchored to a post-earnings share price of $1,048.51, market value near $1.20T, Q3 revenue of $41.456B, 84.6% GAAP gross margin, $25.11 non-GAAP EPS, and Q4 guidance for $50.0B +/- $1.0B of revenue.
Forecast assumptions
- Revenue growth must be checked against the latest filing and management guidance.
- Current reported operating margin is 47.8%.
- TTM free-cash-flow margin is 4.9%.
- Discount rates and valuation multiples should move when risk-free rates, business risk, or estimate confidence changes.
This is not a buy or sell recommendation. Forecasts are conditional ranges whose assumptions can fail.
Open forecast methodology and scenariosTechnology
Peer comparison
| Company | TTM revenue | Revenue growth | Operating margin | Tracked holders |
|---|---|---|---|---|
| MUMicron Technology | $54.86B | 196.3% | 47.8% | 0 |
| INTCIntel | $52.76B | 7.2% | -11.2% | 0 |
| CSCOCisco | $60.22B | 12% | 23.8% | 0 |
| ORCLOracle Corporation | $62.3B | 21.7% | 30.2% | 0 |
| AVGOBroadcom | $65.18B | 29.5% | 40.7% | 0 |
| CRMSalesforce | $41.46B | 13.3% | 21.2% | 0 |
| AMDAdvanced Micro Devices | $34.62B | 37.8% | 9.9% | 4 |
MU's 196.3% revenue growth and 47.8% operating margin should be read against peers using the same reporting definitions. A higher margin may reflect pricing power or business mix, while a lower margin can reflect investment, cyclicality, or weaker economics.
Fund ownership
ETF exposure
MU appears among the disclosed top holdings of 10 tracked ETFs shown below. ETF weights change with price movement, rebalancing, creations, redemptions, and issuer methodology.
| ETF | MU weight | AUM | Holdings date |
|---|---|---|---|
| QQQInvesco QQQ Trust Series I | 3.73% | $466.45B | May 15, 2026 |
| VTVVanguard Value ETF | 2.26% | $174.54B | Apr 30, 2026 |
| VGTVanguard Information Technology ETF | 2.62% | $136.23B | Apr 30, 2026 |
| XLKState Street Technology Select Sector SPDR ETF | 5.21% | $113.90B | May 18, 2026 |
| RSPInvesco S&P 500 Equal Weight ETF | 0.31% | $86.11B | May 18, 2026 |
| SMHVanEck Semiconductor ETF | 5.99% | $62.25B | May 19, 2026 |
| SOXXiShares Semiconductor ETF | 9.58% | $32.44B | May 19, 2026 |
| MTUMiShares MSCI USA Momentum Factor ETF | 7.30% | $25.26B | May 19, 2026 |
| IWDiShares Russell 1000 Value ETF | 2.38% | $73.55B | May 19, 2026 |
| QQQMInvesco NASDAQ 100 ETF | 3.52% | $91.12B | May 18, 2026 |
10-K · 2025-10-03
Key risk factors disclosed in the latest 10-K
The categories below are a deterministic research checklist anchored to Micron Technology's industry and latest annual filing. They summarize areas investors should locate in Item 1A; they do not replace the company's exact legal disclosure.
- Demand and product-cycle risk: Memory semiconductors can experience changing customer demand, replacement cycles, and competitive product launches that affect revenue timing.
- Competition and execution: Market share depends on product quality, pricing, distribution, innovation, and management's ability to convert investment into durable customer demand.
- Supply chain and counterparties: Supplier concentration, logistics disruption, component availability, and customer concentration can affect delivery schedules, costs, and working capital.
- Regulation and litigation: Antitrust, privacy, securities, labor, tax, environmental, and industry-specific rules may change costs or restrict products and business practices.
- Financial and market risk: Foreign exchange, interest rates, credit conditions, investment values, and capital-allocation decisions can affect reported earnings and valuation.
Shareholder returns
Dividend and buyback history
Dividend
Micron Technology reported $524M of dividends paid over the trailing period and $134M in the latest standardized quarter. These are company cash outflows, not a per-share forward yield.
Share buybacks
The standardized snapshot does not currently expose a reliable repurchase authorization and share-count bridge for every issuer. Compare diluted shares outstanding across filings and read the capital-return note before concluding that buybacks reduced the share base.
Research workflow
Common research questions about MU
Who is the largest tracked institutional holder of MU?
The current tracked-manager sample does not identify an active MU holder. The MU ownership page will reflect a matching position when one enters the filing dataset.
What does recent insider activity show for MU?
No recent Form 4 transaction appears in the current MU window. Check the MU Form 4 history for later company-officer or director filings.
What business does Micron Technology operate?
Micron produces DRAM, NAND, and memory solutions used in data centers, PCs, mobile devices, autos, industrial systems, and AI infrastructure. The MU company snapshot connects that business description with reported revenue, profit, and cash flow.
How does MU compare with a close operating peer?
MU's revenue growth is 196.3% and its operating margin is 47.8%. Compare those figures with INTC research using the same definitions.
What do the latest financials say about MU?
10-Q reports $54.9B of trailing revenue, with revenue growth of 196.3% and an operating margin of 47.8%. The supporting period and source are listed in the MU filing section.
How strong is MU's cash return profile?
Micron Technology reported $524.0M of trailing dividends paid alongside $2.7B of free cash flow. The MU capital-return section separates company cash outflows from a forward per-share yield.
Which assumptions matter most for the MU outlook?
The MU range depends on revenue growth, operating margin, cash conversion, and the risk assumptions in each new filing. Recheck them in the MU forecast section.
Primary and reference data
Sources and methodology
- Filings: SEC EDGAR CompanyFacts, 10-K, 10-Q, 8-K, Form 4, 13F-HR.
- Fundamentals: SEC EDGAR CompanyFacts; market references may use yfinance and Finnhub where explicitly available.
- ETF: Issuer disclosures and the locally dated ETF holdings snapshot.
Methodology: How SnowballHare parses and validates data.
Editorial standards: How research is published.
Disclaimer: Informational only; not investment, legal, or tax advice. Cross-check material facts against original filings before acting.
Reference notes
Data notes
Reporting dates
Use filing dates, report periods, and source links together for MU. A company filing, a 13F disclosure, a Form 4 transaction, and an earnings release can describe different time windows, so the date beside each row matters before comparing signals.
Ownership context
13F rows are delayed public long-equity snapshots from a selected manager universe. They are useful for seeing which tracked institutions reported exposure, but they do not show every hedge, short position, cash balance, or trade made after the quarter ended.
Insider transactions
Form 4 activity should be read by transaction type, role, value, and remaining ownership. Open-market purchases and sales are different from grants, option exercises, gifts, or tax withholding, and the original SEC filing is still the controlling document.
Earnings and forecasts
Earnings pages and forecast pages are linked when a supported article exists. Treat those pages as context for reported numbers, guidance, margins, and scenario assumptions, then return to the table data when you need the underlying source date or filing trail.