Micron Technology, Inc. (MU)
POSITIVEFundamental
76
मूल्य
$929.75
मार्केट कैप
-
भाग 1 · कंपनी का मूल्य कितना है
अवलोकन
Micron makes memory and storage chips — DRAM, which computers and servers use to hold data they are actively working with, and NAND flash, which stores data long-term in solid-state drives and phones. It is one of only three companies in the world with the scale to manufacture advanced memory competitively, alongside Samsung and SK Hynix. Demand today is increasingly driven by AI servers, which need far more high-bandwidth memory per unit than a standard computer.
यह पैसा कैसे कमाती है
Micron sells chips outright to computer, phone, and server makers at prices set largely by the broader memory market, since DRAM and NAND are close to commodities: when the industry has more supply than buyers need, prices for everyone fall sharply, and when supply is tight they rise just as sharply. Fiscal 2025 revenue jumped 49% mostly on higher prices and the newer high-bandwidth memory used in AI accelerators, illustrating how much results depend on where the industry sits in its cycle rather than on unit sales alone.
सेगमेंट के अनुसार राजस्व
High-bandwidth memory and DRAM sold to the largest cloud and AI computing customers, the fastest-growing and now largest part of Micron.
Memory chips for smartphones and personal computers, Micron's largest business by revenue but growing the slowest of the four.
DRAM and NAND sold to traditional enterprise and data-center server makers outside the largest hyperscale cloud AI buyers.
Memory and storage for cars, industrial equipment and connected devices, sold under long product lifecycles distinct from consumer electronics.
प्रतिस्पर्धी बढ़त (Moat)
स्केल · संकीर्णBuilding a competitive memory fab costs tens of billions of dollars, which has narrowed the industry to three real players worldwide — Micron, Samsung and SK Hynix — and keeps new entrants out. That scale advantage protects Micron's position but does not give it pricing power: DRAM and NAND are still largely interchangeable between suppliers, so prices are set by the whole industry's supply, not by any one company.
मांग को क्या चलाता है
चक्रीयMemory has one of the most pronounced boom-and-bust cycles in technology: prices can double or halve within a year as manufacturers add or cut capacity slower than demand shifts. AI data-center buildouts are currently driving a strong upcycle, but the same industry has swung from shortage to oversupply repeatedly over the past two decades.
प्रमुख जोखिम
- Severe price cyclicality — Memory prices can swing sharply within a single year based on industry-wide supply and demand, and a downturn can turn a very profitable year into a loss-making one quickly.
- Customer concentration — The ten largest customers together generate roughly half of total revenue; losing or renegotiating terms with even one of them would have a large effect on results.
- Heavy, ongoing capital spending — Staying competitive requires continuous, multi-billion-dollar investment in new fabs and equipment years before that capacity generates revenue, regardless of where prices sit in the cycle at the time.
- Export controls and China exposure — US restrictions on advanced chip technology and China's own restrictions on Micron products in response have already cost the company sales in one of its largest markets.
ग्राहक Concentration
Micron's ten largest customers together have accounted for roughly half of total revenue in each of the last three fiscal years, though no single customer's individual share is broken out.
खरीदने के पक्ष में तर्क
Buyers argue that AI data centers need far more memory per server than before, that a three-player industry structure gives Micron real pricing power in an upcycle, and that fiscal 2025's 49% revenue growth shows the current cycle still has room to run.
बेचने के पक्ष में तर्क
Sellers fear that memory has always been a boom-and-bust business and today's AI-driven prices will eventually invite more supply and fall again, that half of revenue riding on ten customers leaves Micron exposed to any one of them slowing orders, and that China's restrictions on Micron chips could deepen if trade tensions escalate further.
Written by the editors, published on 18 अगस्त 2026
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बैलेंस शीट और तरलता
राजस्व
$90.27B
पिछले 12 महीने (28/5/2026 तक)
शुद्ध आय
$50.47B
पिछले 12 महीने (28/5/2026 तक)
Free Cash Flow
$1.67B
कुल इक्विटी
$54.16B
कुल देनदारियाँ
$28.63B
Current Ratio
3.42
Interest Coverage
257.58
Debt/EBITDA
0.35
Earnings Per Share
राजस्व और शुद्ध आय
Free Cash Flow
आय विवरण
ऐतिहासिक विवरण
समय के साथ मार्जिन
समय के साथ ऋण
ऋण कितना भारी है
वृद्धि तालिका
वृद्धि — राजस्व
Fair Value अनुमान
Fair Value
$818.79
वर्तमान मूल्य
$929.75
Margin of Safety
-13.6%
Fair Value सीमा
$532.21 - $1105.37
अनुमान विधियाँ
मूल्यांकन मेट्रिक्स
P/E Ratio
20.61
ROE
15.8%
P/B Ratio
10.21
P/FCF
39.29
Gross Margin
72.6%
ROIC
40.8%
लाभप्रदता Radar
Value Creation (Economic Moat)
ROIC
40.8%
WACC
16.8%
ROIC − WACC
+24.0 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental विश्लेषण मानदंड
पास (21)
- EPS shows upward trend
- Price CAGR 46.04%
- ROIC 40.8%
- Gross Margin 72.6%
- Debt/Equity ratio
- Operating Margin 65.6%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 70.5%
- Revenue Growth 5Y 11.8%
- Analyst Consensus 91% Buy
- Earnings Surprise avg 16.2%
- PEG Ratio 0.82
- Earnings Quality (OCF/NI) 1.02
- Share Dilution 1.2%
- Net Margin Trend 55.9% vs 18.4%
- Piotroski F-Score 7/9
फेल (5)
- P/FCF 39.29
- P/B Ratio 10.21
- CapEx intensity
- Price below Graham Number
- DCF valuation (Overvalued)
अनुपलब्ध (1)
- Dividend Payout NaN%
Piotroski F-Score
मजबूत वित्तीय स्वास्थ्य
Earnings गुणवत्ता
उच्च गुणवत्ता: earnings नकदी द्वारा समर्थित
शेयर Dilution
शेयर संख्या स्थिर है
प्रशासन
कार्यकारी टीम
| नाम | पद | आयु |
|---|---|---|
| Mr. Sanjay Mehrotra | CEO, President & Chairman | 66 |
| Mr. Mark J. Murphy | Executive VP & CFO | 57 |
| Mr. Manish H. Bhatia | Executive Vice President of Global Operations | 53 |
| Dr. Scott J. DeBoer Ph.D. | Executive VP and Chief Technology & Products Officer | 59 |
| Mr. Sumit Sadana | Executive VP & Chief Business Officer | 56 |
| Mr. Scott R. Allen | Corporate VP & Chief Accounting Officer | 57 |
| Mr. Anand Bahl | Corp. VP & Chief Information Officer | - |
| Mr. Satya Kumar | Corporate VP of Investor Relations & Treasurer | - |
| Mr. Michael Charles Ray Ph.D. | Senior VP, Chief Legal Officer & Corporate Secretary | 57 |
| Mr. Michael D. Cordano | Executive VP of Worldwide Sales | 61 |
Audit जोखिम
1
बोर्ड जोखिम
7
मुआवजा जोखिम
6
शेयरधारक अधिकार जोखिम
1
भाग 2 · कीमत और खरीदने का समय
यह हिस्सा यह नहीं बताता कि कंपनी अच्छी है या नहीं: यह तय करने में मदद करता है कि उसे कब खरीदें, जब फंडामेंटल आपको आश्वस्त कर चुके हों। इसमें: तकनीकी विश्लेषण, संभावना, ऐतिहासिक गिरावट, गामा एक्सपोज़र।
Latest News
Recent headlines for MU, sourced from Markets Gazette.
- 11h agoPOSITIVEPerché Micron e SanDisk rimbalzano dopo il crollo delle azioni memoria di lunedì?
Micron Technology Inc. and SanDisk saw their shares rebound in Tuesday's pre-market trading, recovering from Monday's significant sell-off in the memory chip sector. Micron climbed over 3%, while SanDisk gained approximately 4%. This bounce occurred as investors reassigned capital to semiconductor stocks ahead of Nvidia's earnings report. The sharp recovery suggests Monday's decline may have been an overreaction or a short-term capitulation event, rather than a fundamental shift in the companies' underlying business activities. The market appears to be looking past the immediate volatility, anticipating potential positive catalysts.
- 1d agoNEGATIVEPerché le azioni di Micron, SK Hynix e SanDisk scendono oggi?
Micron Technology shares plunged approximately 7% on Monday, alongside significant drops in SK Hynix (down 5%) and SanDisk (down 9%), as investors reacted to potential shifts in Apple's supply chain. Reports suggest the Trump administration may permit Apple to source DRAM from China's CXMT and NAND flash from Yangtze Memory Technologies. This news, coupled with Samsung's disappointing shareholder return announcement and broader profit-taking in semiconductors, has created a negative sentiment for memory chip manufacturers. The potential loss of market share and increased competition from Chinese suppliers are key concerns for investors.
- 5d agoPOSITIVEMicron a $2.000? I conti Nvidia possono mettere alla prova la scommessa più audace di Wall Street
Micron Technology (NASDAQ: MU) is approaching Nvidia's earnings report with an aggressive price target of $2,000, raised from $1,500 by D.A. Davidson analyst Gil Luria. This bullish outlook, maintained with a Buy recommendation, is predicated on the idea that AI-driven demand and long-term customer agreements have significantly stabilized Micron's historically cyclical revenues. The upcoming Nvidia report will serve as a crucial test for this thesis, as Micron currently trades approximately 22% below its all-time high. Investors are closely watching to see if the company can sustain its growth trajectory.
- 5d agoPOSITIVELe azioni Micron salgono del 2% oggi: ecco perché
Micron Technology Inc. (MU) shares rose 2% on August 20th following the announcement of a $10 billion AI research lab to be built in Boise, Idaho, over the next decade. This significant investment will focus on memory technology, computing systems, and future semiconductor manufacturing. The expansion is driven by the surging demand for memory chips fueled by the growth of AI infrastructure. Construction of the advanced Micron Research Labs is slated to begin in 2027, with space for hundreds of researchers. This strategic move positions Micron to capitalize on the AI boom, potentially boosting future revenue and market share.
- 6d agoPOSITIVEPrincipali motivi per cui le azioni Micron sono pronte a un forte rimbalzo
Micron Technology's stock has experienced a significant downturn, falling from a year-to-date high of $125.50 in June to its current trading price of $94.00. This decline mirrors the performance of other memory chip companies globally. However, analysts are expressing optimism for a potential rebound. New Street Research has set a price target of $125.00, representing a nearly 35% upside from current levels, while DA Davidson has raised its target to $150.00. This positive analyst sentiment suggests a belief in the company's underlying value and future prospects, potentially signaling a turning point for the stock.
- 7d agoNEGATIVELe azioni MU scendono del 7%: i titoli della memoria sotto pressione
Micron Technology (MU) shares tumbled 7.7% to $934 on Tuesday, marking a significant reversal after a strong prior rally. The decline occurred amidst broader pressure on the semiconductor sector, driven by rising Treasury yields and concerns over increased financing costs for AI infrastructure. Fellow memory chip makers SK Hynix and SanDisk also experienced sharp drops of 9.2% and nearly 10%, respectively. This sell-off highlights the sector's sensitivity to macroeconomic factors like interest rates, impacting even high-flying stocks like Micron.
- 7d agoPOSITIVEJim Cramer: non è troppo tardi per investire in SNDK, MU, STX e WDC
Jim Cramer suggests it's not too late to invest in memory chip stocks like SanDisk (SNDK), Micron Technology (MU), Seagate Technology (STX), and Western Digital (WDC). Historically a boom-and-bust sector, memory chips are now seeing sustained demand from AI-driven hyperscale data centers. Despite significant rallies, Cramer argues that supply constraints and new discipline among manufacturers present a structural argument for continued growth. Investors who missed the initial surge may still find opportunities as the AI revolution fuels demand for memory and storage solutions.
- 8d agoNEGATIVEMicron -6%, SK Hynix e SanDisk -5%: perché crolla il settore memoria?
Micron Technology (MU) shares plunged approximately 6% in pre-market trading, following a broader sell-off in the memory chip sector. SanDisk (SNDK) also fell 5.3%, and SK Hynix ADRs dropped 5.1%. This sharp decline, occurring without a clear overnight deterioration in memory demand, suggests investors are reducing exposure to AI chip winners. The Nasdaq 100 futures also dipped 1.2%, indicating a general market caution. For investors, this signals a potential rotation away from high-flying tech stocks, prompting a re-evaluation of risk appetite in the semiconductor industry.
via Markets Gazette