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Oakmont Investment Advisors Inc. acquired a new position in Micron Technology, Inc. (NASDAQ:MU – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,902 shares of the semiconductor manufacturer’s stock, valued at approximately $12,584,000. Micron Technology accounts for approximately 8.8% of Oakmont Investment Advisors Inc.’s portfolio, making the stock its largest holding.

Other institutional investors have also recently made changes to their positions in the company. Heritage Trust Co lifted its position in shares of Micron Technology by 9.7% in the fourth quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock worth $4,289,000 after buying an additional 1,323 shares in the last quarter. Denali Advisors LLC bought a new stake in Micron Technology in the 2nd quarter worth approximately $7,364,000. Castleark Management LLC bought a new stake in Micron Technology in the 1st quarter worth approximately $3,709,000. Oppenheimer & Co. Inc. raised its holdings in shares of Micron Technology by 16.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 48,520 shares of the semiconductor manufacturer’s stock worth $56,006,000 after acquiring an additional 6,702 shares in the last quarter. Finally, Legacy Wealth Management LLC MS boosted its position in shares of Micron Technology by 73.3% during the 2nd quarter. Legacy Wealth Management LLC MS now owns 3,544 shares of the semiconductor manufacturer’s stock valued at $4,091,000 after acquiring an additional 1,499 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes Several analysts have recently issued reports on MU shares. Royal Bank Of Canada upped their target price on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. DA Davidson increased their target price on Micron Technology from $1,500.00 to $2,000.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Wells Fargo & Company boosted their target price on shares of Micron Technology from $1,220.00 to $1,525.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Needham & Company LLC boosted their target price on shares of Micron Technology from $1,550.00 to $1,650.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $1,500.00 price target on shares of Micron Technology in a report on Thursday, June 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Buy” and a consensus target price of $1,295.63.

Get Our Latest Stock Report on Micron Technology Key Headlines Impacting Micron Technology Here are the key news stories impacting Micron Technology this week:

Positive Sentiment: AI demand and supply constraints remain major tailwinds. Oracle’s strong cloud-infrastructure growth reinforced expectations for continued data-center AI spending, while limited DRAM and high-bandwidth memory supply could support Micron’s pricing and margins. Micron Stock Rises as This Key Number From Oracle Boosts AI Trade Positive Sentiment: Long-term customer agreements may reduce earnings volatility. Micron’s strategic contracts reportedly cover substantial memory volumes through 2030, with pricing protections that improve revenue visibility and could make the company less exposed to the traditional boom-and-bust memory cycle. Micron Bets on Long-Term SCA Deals Positive Sentiment: Analysts remain constructive ahead of fiscal fourth-quarter results. Bullish commentary points to persistent shortages, rising HBM4 demand and potentially strong revenue and gross-margin guidance at the September 30 earnings report. Micron’s Q4 Might Change the Game Neutral Sentiment: Employee rewards highlight both strong profitability and rising costs. Taiwan-based direct labor employees are slated to receive fiscal 2026 rewards equivalent to 35–68 months of pay. The payouts recognize exceptional results but may increase expense pressure, while unions representing about 10,000 workers continue to threaten industrial action. Micron’s Taiwan Workers to Get Rewards Worth Up to 68 Months of Pay Negative Sentiment: Valuation and execution expectations are unusually high. Despite record guidance and worsening shortages, investors appear concerned that much of the AI-memory upside is already reflected in MU’s valuation. Any moderation in memory pricing or results that merely meet expectations could trigger profit-taking. Micron’s 662% Rally Created a Problem Wall Street Cannot Ignore Negative Sentiment: Competitive and macroeconomic risks are weighing on sentiment. Intel-backed startup Kepler Computing is targeting the memory-chip market, raising concerns about future pricing power. Separately, higher oil prices, inflation worries and interest-rate pressure have hurt high-beta technology stocks. Micron Stock Slips as Intel-Backed Start-up Takes Aim at Memory-Chip Market Micron Technology Trading Down 0.2% MU opened at $975.26 on Friday. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $929.44 and its two-hundred day moving average is $754.92. The company has a market capitalization of $1.10 trillion, a P/E ratio of 22.08, a PEG ratio of 0.62 and a beta of 2.22. Micron Technology, Inc. has a 52 week low of $153.21 and a 52 week high of $1,255.00.

Micron Technology (NASDAQ:MU – Get Free Report) last issued its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, topping the consensus estimate of $21.39 by $3.72. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The business had revenue of $41.46 billion during the quarter, compared to analysts’ expectations of $35.91 billion. During the same period in the prior year, the business earned $1.91 EPS. The business’s revenue for the quarter was up 345.8% compared to the same quarter last year. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Analysts forecast that Micron Technology, Inc. will post 72.93 earnings per share for the current year.

Micron Technology Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, July 6th. Micron Technology’s payout ratio is presently 1.36%.

Insider Buying and Selling In related news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $968.90, for a total value of $38,756,000.00. Following the completion of the sale, the chief executive officer directly owned 264,503 shares of the company’s stock, valued at $256,276,956.70. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Scott Allen sold 879 shares of the stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $1,000.00, for a total transaction of $879,000.00. Following the transaction, the chief accounting officer owned 34,958 shares in the company, valued at approximately $34,958,000. The trade was a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 177,204 shares of company stock valued at $182,156,264 over the last quarter. 0.24% of the stock is owned by company insiders.

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

Recommended Stories Five stocks we like better than Micron Technology Rocket Lab Tackles a Supply Chain Bottleneck as the Stock Hunts for a Bottom. Time to Buy? Optical Cable Corporation Is Starting to Get the Market’s Attention Oil Above $100 Is Creating a New Opportunity Beyond the Major Producers Is Nike’s Index Demotion a Warning or a Buying Opportunity?

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OceanIQ Capital LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 515 shares of the semiconductor manufacturer’s stock, valued at approximately $594,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Outlook Capital Management LLC acquired a new position in Micron Technology during the second quarter worth approximately $196,056,000. Turner Financial Group Inc. purchased a new stake in Micron Technology during the 2nd quarter valued at approximately $2,180,000. Oakmont Investment Advisors Inc. purchased a new stake in Micron Technology during the 2nd quarter valued at approximately $12,584,000. Strive Financial Group LLC lifted its position in Micron Technology by 319.5% during the 2nd quarter. Strive Financial Group LLC now owns 558 shares of the semiconductor manufacturer’s stock worth $644,000 after acquiring an additional 425 shares during the period. Finally, Invested Advisors acquired a new stake in Micron Technology during the 2nd quarter worth approximately $248,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets A number of research firms have recently issued reports on MU. Needham & Company LLC boosted their target price on Micron Technology from $1,550.00 to $1,650.00 and gave the company a “buy” rating in a report on Thursday, June 25th. ThinkEquity reaffirmed a “buy” rating on shares of Micron Technology in a report on Monday, August 3rd. Barclays lifted their price objective on shares of Micron Technology from $1,175.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Raymond James Financial boosted their price objective on shares of Micron Technology from $1,100.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Finally, Rosenblatt Securities upped their price objective on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $1,295.63.

Check Out Our Latest Report on Micron Technology Key Headlines Impacting Micron Technology Here are the key news stories impacting Micron Technology this week:

Positive Sentiment: AI demand and supply constraints remain major tailwinds. Oracle’s strong cloud-infrastructure growth reinforced expectations for continued data-center AI spending, while limited DRAM and high-bandwidth memory supply could support Micron’s pricing and margins. Micron Stock Rises as This Key Number From Oracle Boosts AI Trade Positive Sentiment: Long-term customer agreements may reduce earnings volatility. Micron’s strategic contracts reportedly cover substantial memory volumes through 2030, with pricing protections that improve revenue visibility and could make the company less exposed to the traditional boom-and-bust memory cycle. Micron Bets on Long-Term SCA Deals Positive Sentiment: Analysts remain constructive ahead of fiscal fourth-quarter results. Bullish commentary points to persistent shortages, rising HBM4 demand and potentially strong revenue and gross-margin guidance at the September 30 earnings report. Micron’s Q4 Might Change the Game Neutral Sentiment: Employee rewards highlight both strong profitability and rising costs. Taiwan-based direct labor employees are slated to receive fiscal 2026 rewards equivalent to 35–68 months of pay. The payouts recognize exceptional results but may increase expense pressure, while unions representing about 10,000 workers continue to threaten industrial action. Micron’s Taiwan Workers to Get Rewards Worth Up to 68 Months of Pay Negative Sentiment: Valuation and execution expectations are unusually high. Despite record guidance and worsening shortages, investors appear concerned that much of the AI-memory upside is already reflected in MU’s valuation. Any moderation in memory pricing or results that merely meet expectations could trigger profit-taking. Micron’s 662% Rally Created a Problem Wall Street Cannot Ignore Negative Sentiment: Competitive and macroeconomic risks are weighing on sentiment. Intel-backed startup Kepler Computing is targeting the memory-chip market, raising concerns about future pricing power. Separately, higher oil prices, inflation worries and interest-rate pressure have hurt high-beta technology stocks. Micron Stock Slips as Intel-Backed Start-up Takes Aim at Memory-Chip Market Insider Buying and Selling In other Micron Technology news, Director Lynn Dugle sold 1,300 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total transaction of $1,495,559.00. Following the sale, the director directly owned 17,728 shares in the company, valued at approximately $20,394,823.04. The trade was a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the sale, the chief executive officer directly owned 264,503 shares in the company, valued at approximately $256,276,956.70. This represents a 13.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 177,204 shares of company stock valued at $182,156,264 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

Micron Technology Stock Performance NASDAQ MU opened at $975.26 on Friday. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.62 and a beta of 2.22. The business’s 50 day moving average is $929.44 and its two-hundred day moving average is $754.92. Micron Technology, Inc. has a 12-month low of $153.21 and a 12-month high of $1,255.00. The company has a current ratio of 3.42, a quick ratio of 2.98 and a debt-to-equity ratio of 0.05.

Micron Technology (NASDAQ:MU – Get Free Report) last posted its quarterly earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 EPS for the quarter, beating the consensus estimate of $21.39 by $3.72. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The business had revenue of $41.46 billion during the quarter, compared to analysts’ expectations of $35.91 billion. During the same period last year, the firm earned $1.91 EPS. The company’s quarterly revenue was up 345.8% compared to the same quarter last year. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Research analysts expect that Micron Technology, Inc. will post 72.93 EPS for the current year.

Micron Technology Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 6th were given a $0.15 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology’s dividend payout ratio is presently 1.36%.

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

See Also Five stocks we like better than Micron Technology Rocket Lab Tackles a Supply Chain Bottleneck as the Stock Hunts for a Bottom. Time to Buy? Optical Cable Corporation Is Starting to Get the Market’s Attention Oil Above $100 Is Creating a New Opportunity Beyond the Major Producers Is Nike’s Index Demotion a Warning or a Buying Opportunity?

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Investor s Fiduciary Advisor Network LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 559 shares of the semiconductor manufacturer’s stock, valued at approximately $645,000.

Other large investors have also made changes to their positions in the company. High Note Wealth LLC increased its position in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 34 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Micron Technology in the first quarter worth $27,000. Bayban bought a new position in Micron Technology during the fourth quarter worth $29,000. WealthCollab LLC raised its stake in Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 270 shares during the last quarter. Finally, Financial Life Planners bought a new stake in Micron Technology in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology In related news, Director Lynn A. Dugle sold 1,300 shares of Micron Technology stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the completion of the transaction, the director directly owned 17,728 shares of the company’s stock, valued at $20,394,823.04. The trade was a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the transaction, the executive vice president owned 191,021 shares in the company, valued at approximately $178,469,010.09. This trade represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 177,204 shares of company stock worth $182,156,264. 0.24% of the stock is owned by company insiders.

Micron Technology Price Performance NASDAQ:MU opened at $975.26 on Friday. The firm has a market cap of $1.10 trillion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 0.62 and a beta of 2.22. Micron Technology, Inc. has a 12 month low of $153.21 and a 12 month high of $1,255.00. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $929.44 and its two-hundred day moving average price is $754.92. Micron Technology (NASDAQ:MU – Get Free Report) last posted its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, topping the consensus estimate of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The company had revenue of $41.46 billion during the quarter, compared to analyst estimates of $35.91 billion. During the same quarter last year, the business posted $1.91 earnings per share. The company’s revenue was up 345.8% on a year-over-year basis. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post 72.93 EPS for the current fiscal year.

Micron Technology Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Monday, July 6th. Micron Technology’s dividend payout ratio (DPR) is currently 1.36%.

Micron Technology News Roundup Here are the key news stories impacting Micron Technology this week:

Positive Sentiment: AI demand and supply constraints remain major tailwinds. Oracle’s strong cloud-infrastructure growth reinforced expectations for continued data-center AI spending, while limited DRAM and high-bandwidth memory supply could support Micron’s pricing and margins. Micron Stock Rises as This Key Number From Oracle Boosts AI Trade Positive Sentiment: Long-term customer agreements may reduce earnings volatility. Micron’s strategic contracts reportedly cover substantial memory volumes through 2030, with pricing protections that improve revenue visibility and could make the company less exposed to the traditional boom-and-bust memory cycle. Micron Bets on Long-Term SCA Deals Positive Sentiment: Analysts remain constructive ahead of fiscal fourth-quarter results. Bullish commentary points to persistent shortages, rising HBM4 demand and potentially strong revenue and gross-margin guidance at the September 30 earnings report. Micron’s Q4 Might Change the Game Neutral Sentiment: Employee rewards highlight both strong profitability and rising costs. Taiwan-based direct labor employees are slated to receive fiscal 2026 rewards equivalent to 35–68 months of pay. The payouts recognize exceptional results but may increase expense pressure, while unions representing about 10,000 workers continue to threaten industrial action. Micron’s Taiwan Workers to Get Rewards Worth Up to 68 Months of Pay Negative Sentiment: Valuation and execution expectations are unusually high. Despite record guidance and worsening shortages, investors appear concerned that much of the AI-memory upside is already reflected in MU’s valuation. Any moderation in memory pricing or results that merely meet expectations could trigger profit-taking. Micron’s 662% Rally Created a Problem Wall Street Cannot Ignore Negative Sentiment: Competitive and macroeconomic risks are weighing on sentiment. Intel-backed startup Kepler Computing is targeting the memory-chip market, raising concerns about future pricing power. Separately, higher oil prices, inflation worries and interest-rate pressure have hurt high-beta technology stocks. Micron Stock Slips as Intel-Backed Start-up Takes Aim at Memory-Chip Market Analysts Set New Price Targets MU has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Micron Technology from $1,500.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Sanford C. Bernstein set a $1,300.00 target price on shares of Micron Technology in a research note on Monday, June 22nd. The Goldman Sachs Group boosted their price target on Micron Technology from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. ThinkEquity reaffirmed a “buy” rating on shares of Micron Technology in a report on Monday, August 3rd. Finally, Rosenblatt Securities raised their price objective on Micron Technology from $1,200.00 to $1,500.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $1,295.63.

Check Out Our Latest Report on Micron Technology

Micron Technology Company Profile (Free Report)

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

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NEOS Investment Management LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 8.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 848,739 shares of the semiconductor manufacturer’s stock after purchasing an additional 68,714 shares during the period. Micron Technology accounts for approximately 3.6% of NEOS Investment Management LLC’s portfolio, making the stock its 5th biggest position. NEOS Investment Management LLC owned about 0.08% of Micron Technology worth $979,691,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. M.E. Allison & CO. Inc. increased its holdings in Micron Technology by 0.8% in the second quarter. M.E. Allison & CO. Inc. now owns 1,324 shares of the semiconductor manufacturer’s stock worth $1,528,000 after buying an additional 11 shares during the last quarter. Cherrydale Wealth Management LLC lifted its stake in Micron Technology by 1.4% in the second quarter. Cherrydale Wealth Management LLC now owns 972 shares of the semiconductor manufacturer’s stock valued at $1,122,000 after acquiring an additional 13 shares during the last quarter. Bellevue Asset Management LLC grew its position in Micron Technology by 25.5% in the second quarter. Bellevue Asset Management LLC now owns 64 shares of the semiconductor manufacturer’s stock worth $74,000 after acquiring an additional 13 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its position in Micron Technology by 8.8% in the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 161 shares of the semiconductor manufacturer’s stock worth $186,000 after acquiring an additional 13 shares in the last quarter. Finally, Red Door Wealth Management LLC increased its stake in shares of Micron Technology by 0.7% during the 2nd quarter. Red Door Wealth Management LLC now owns 1,914 shares of the semiconductor manufacturer’s stock worth $2,209,000 after purchasing an additional 14 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Down 0.2% Micron Technology stock opened at $975.26 on Friday. The business has a 50 day moving average price of $929.44 and a two-hundred day moving average price of $754.92. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 0.62 and a beta of 2.22. Micron Technology, Inc. has a 12 month low of $153.21 and a 12 month high of $1,255.00.

Micron Technology (NASDAQ:MU – Get Free Report) last announced its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, topping the consensus estimate of $21.39 by $3.72. The company had revenue of $41.46 billion for the quarter, compared to analyst estimates of $35.91 billion. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.Micron Technology’s revenue for the quarter was up 345.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 72.93 EPS for the current year. Micron Technology Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, July 6th. Micron Technology’s payout ratio is 1.36%.

Analysts Set New Price Targets Several equities research analysts recently issued reports on the stock. Wolfe Research set a $1,500.00 price objective on shares of Micron Technology in a research note on Thursday, June 25th. Seaport Research Partners reissued a “buy” rating on shares of Micron Technology in a research report on Friday, August 14th. Stifel Nicolaus raised their target price on Micron Technology from $550.00 to $1,500.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Wells Fargo & Company boosted their price target on Micron Technology from $1,220.00 to $1,525.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, Barclays upped their price target on Micron Technology from $1,175.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $1,295.63.

Check Out Our Latest Analysis on Micron Technology

Insider Buying and Selling In other news, Director Lynn Dugle sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total transaction of $1,495,559.00. Following the completion of the transaction, the director directly owned 17,728 shares of the company’s stock, valued at approximately $20,394,823.04. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April Arnzen sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $1,083.94, for a total transaction of $43,357,600.00. Following the sale, the executive vice president owned 85,737 shares in the company, valued at approximately $92,933,763.78. This trade represents a 31.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 177,204 shares of company stock worth $182,156,264. Insiders own 0.24% of the company’s stock.

Key Headlines Impacting Micron Technology Here are the key news stories impacting Micron Technology this week:

Positive Sentiment: AI demand and supply constraints remain major tailwinds. Oracle’s strong cloud-infrastructure growth reinforced expectations for continued data-center AI spending, while limited DRAM and high-bandwidth memory supply could support Micron’s pricing and margins. Micron Stock Rises as This Key Number From Oracle Boosts AI Trade Positive Sentiment: Long-term customer agreements may reduce earnings volatility. Micron’s strategic contracts reportedly cover substantial memory volumes through 2030, with pricing protections that improve revenue visibility and could make the company less exposed to the traditional boom-and-bust memory cycle. Micron Bets on Long-Term SCA Deals Positive Sentiment: Analysts remain constructive ahead of fiscal fourth-quarter results. Bullish commentary points to persistent shortages, rising HBM4 demand and potentially strong revenue and gross-margin guidance at the September 30 earnings report. Micron’s Q4 Might Change the Game Neutral Sentiment: Employee rewards highlight both strong profitability and rising costs. Taiwan-based direct labor employees are slated to receive fiscal 2026 rewards equivalent to 35–68 months of pay. The payouts recognize exceptional results but may increase expense pressure, while unions representing about 10,000 workers continue to threaten industrial action. Micron’s Taiwan Workers to Get Rewards Worth Up to 68 Months of Pay Negative Sentiment: Valuation and execution expectations are unusually high. Despite record guidance and worsening shortages, investors appear concerned that much of the AI-memory upside is already reflected in MU’s valuation. Any moderation in memory pricing or results that merely meet expectations could trigger profit-taking. Micron’s 662% Rally Created a Problem Wall Street Cannot Ignore Negative Sentiment: Competitive and macroeconomic risks are weighing on sentiment. Intel-backed startup Kepler Computing is targeting the memory-chip market, raising concerns about future pricing power. Separately, higher oil prices, inflation worries and interest-rate pressure have hurt high-beta technology stocks. Micron Stock Slips as Intel-Backed Start-up Takes Aim at Memory-Chip Market Micron Technology Profile (Free Report)

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

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Meadowbrook Wealth Management LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 68.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 462 shares of the semiconductor manufacturer’s stock after selling 1,015 shares during the quarter. Meadowbrook Wealth Management LLC’s holdings in Micron Technology were worth $533,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. High Note Wealth LLC raised its stake in shares of Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Micron Technology during the 1st quarter valued at $27,000. Bayban bought a new position in Micron Technology during the 4th quarter valued at $29,000. WealthCollab LLC increased its position in shares of Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 270 shares during the period. Finally, Financial Life Planners bought a new stake in shares of Micron Technology in the 1st quarter worth $36,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $968.90, for a total value of $38,756,000.00. Following the completion of the sale, the chief executive officer owned 264,503 shares of the company’s stock, valued at $256,276,956.70. The trade was a 13.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynn A. Dugle sold 1,300 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the transaction, the director directly owned 17,728 shares in the company, valued at approximately $20,394,823.04. This represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 177,204 shares of company stock valued at $182,156,264 in the last three months. 0.24% of the stock is currently owned by company insiders.

Micron Technology Trading Down 0.2% NASDAQ MU opened at $975.26 on Friday. The company has a current ratio of 3.42, a quick ratio of 2.98 and a debt-to-equity ratio of 0.05. Micron Technology, Inc. has a 1-year low of $153.21 and a 1-year high of $1,255.00. The firm’s fifty day simple moving average is $929.44 and its 200-day simple moving average is $754.92. The company has a market capitalization of $1.10 trillion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 0.62 and a beta of 2.22. Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $21.39 by $3.72. The firm had revenue of $41.46 billion during the quarter, compared to analysts’ expectations of $35.91 billion. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The business’s revenue for the quarter was up 345.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 earnings per share. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 72.93 earnings per share for the current fiscal year.

Micron Technology Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 6th were issued a $0.15 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology’s dividend payout ratio is currently 1.36%.

Key Micron Technology News Here are the key news stories impacting Micron Technology this week:

Positive Sentiment: AI demand and supply constraints remain major tailwinds. Oracle’s strong cloud-infrastructure growth reinforced expectations for continued data-center AI spending, while limited DRAM and high-bandwidth memory supply could support Micron’s pricing and margins. Micron Stock Rises as This Key Number From Oracle Boosts AI Trade Positive Sentiment: Long-term customer agreements may reduce earnings volatility. Micron’s strategic contracts reportedly cover substantial memory volumes through 2030, with pricing protections that improve revenue visibility and could make the company less exposed to the traditional boom-and-bust memory cycle. Micron Bets on Long-Term SCA Deals Positive Sentiment: Analysts remain constructive ahead of fiscal fourth-quarter results. Bullish commentary points to persistent shortages, rising HBM4 demand and potentially strong revenue and gross-margin guidance at the September 30 earnings report. Micron’s Q4 Might Change the Game Neutral Sentiment: Employee rewards highlight both strong profitability and rising costs. Taiwan-based direct labor employees are slated to receive fiscal 2026 rewards equivalent to 35–68 months of pay. The payouts recognize exceptional results but may increase expense pressure, while unions representing about 10,000 workers continue to threaten industrial action. Micron’s Taiwan Workers to Get Rewards Worth Up to 68 Months of Pay Negative Sentiment: Valuation and execution expectations are unusually high. Despite record guidance and worsening shortages, investors appear concerned that much of the AI-memory upside is already reflected in MU’s valuation. Any moderation in memory pricing or results that merely meet expectations could trigger profit-taking. Micron’s 662% Rally Created a Problem Wall Street Cannot Ignore Negative Sentiment: Competitive and macroeconomic risks are weighing on sentiment. Intel-backed startup Kepler Computing is targeting the memory-chip market, raising concerns about future pricing power. Separately, higher oil prices, inflation worries and interest-rate pressure have hurt high-beta technology stocks. Micron Stock Slips as Intel-Backed Start-up Takes Aim at Memory-Chip Market Wall Street Analyst Weigh In Several analysts have recently weighed in on MU shares. Rosenblatt Securities upped their price objective on Micron Technology from $1,200.00 to $1,500.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Zacks Research cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Morgan Stanley upped their price target on shares of Micron Technology from $1,050.00 to $1,200.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. KeyCorp restated an “overweight” rating on shares of Micron Technology in a research report on Monday, July 20th. Finally, New Street Research raised shares of Micron Technology from a “neutral” rating to a “buy” rating and set a $1,250.00 price objective on the stock in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $1,295.63.

Check Out Our Latest Stock Analysis on MU

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

Featured Stories Five stocks we like better than Micron Technology Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model Kroger’s Textbook Entry for Buy-and-Hold Investors AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window Amgen Drops 10% on a Trial It Didn’t Even Run Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Free Report).

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Despite investor concerns over the durability of data center spending, the long-term growth outlook continues to strengthen, reinforcing the AI infrastructure investment case. PwC expects global data center capex to reach $31.6T through 2050, with an increasing percentage tied to AI infrastructure. As U.S. data center construction spending surges 57% YoY to record levels, and AI adoption expands, the market may be underpricing the pace and scale of the AI buildout.

In 2025, Nvidia (NVDA -0.03%) became the first company to achieve a $5 trillion market cap as the artificial intelligence (AI) boom drove its business to new heights. The stock has added 1,390% since the AI boom began in January 2023, and Nvidia is still the world's most valuable company today.

In 2026, Micron Technology (MU -0.22%) achieved a $1 trillion market value just 48 days after reaching $500 billion, the fastest pace on record. The stock has added 1,860% since the AI boom began in January 2023, and its business is flourishing today due to a memory chip supply shortage.

Could Micron eventually be a $5 trillion company? Here's what investors should know.

Image source: The Motley Fool

Nvidia is a full-stack computing companyNvidia designs differentiated chips that are generally superior to alternative solutions. Its graphics processing units (GPUs) are considered the gold standard in accelerating artificial intelligence (AI) workloads. But the company also combines those chips with networking, software, and other hardware to create powerful rack-scale compute platforms.

Nvidia has pricing power for a number of reasons. Its GPUs routinely deliver better results than other AI accelerators when benchmarked across training and inference tasks. Most AI applications are built around its CUDA software platform, which creates a lock-in effect because switching accelerators often requires costly, time-consuming code changes.

Additionally, Nvidia's full-stack strategy that spans hardware and software lets it optimize data center systems for performance and power efficiency in ways that most competitors cannot. That edge typically means Nvidia systems have the lowest total cost of ownership, according to CEO Jensen Huang.

Here's the big picture: Nvidia dominates the AI infrastructure market. It accounts for more than 80% of AI accelerator sales, it's the largest networking company in the world, and it's on pace to be the leading supplier of central processing units (CPUs) this year. Ultimately, Nvidia's involvement at every critical layer of the data center means it would be difficult to displace the company.

Micron is the third-largest memory chip manufacturerMicron manufactures memory and data storage solutions built on DRAM and NAND flash technology. CPUs store information on NAND (long-term memory) and use DRAM (working memory) to perform tasks. Also, GPUs use a specialized type of DRAM called high-bandwidth memory (HBM) to accelerate complex tasks like AI by rapidly feeding data to the processor's cores.

Micron has benefited greatly from a critical supply shortage in memory chips fueled by the AI boom. However, the company ranks third in DRAM, HBM, and NAND market share after Samsung and SK Hynix, and it lacks a durable competitive advantage because memory chips are considered commodities, as chips from different suppliers are interchangeable.

"We do not believe Micron has an economic moat," wrote William Kerwin at Morningstar. "We view DRAM and NAND as commodity-like products prone to market supply/demand dynamics and steady pricing erosion." However, he also believes the AI boom will create a strong upcycle for the company in the medium term.

Here's the big picture: Micron manufacturers memory chips critical to AI workloads, and the company is growing at a phenomenal pace. Revenue rose 345% last quarter. But price increases made possible by a supply shortage (not something unique about Micron) were the driving force behind that growth, and history says that supply shortage will eventually become a supply glut that causes prices to crater.

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Micron is unlikely to be a $5 trillion company in the near futureTo summarize, Nvidia possesses structural pricing power because it designs cutting-edge silicon, networking, and software that are difficult for competitors to replicate. But Micron lacks structural pricing power because its commoditized chips are easily replicated, so prices are largely dictated by supply and demand.

Ultimately, Micron has very little chance of becoming the next Nvidia because it lacks a durable competitive advantage and its sales are tied to a highly cyclical market. Historical data corroborates that idea. In the last decade, Micron stock has dropped more than 25% on five occasions, while Nvidia stock has dropped more than 25% on just three occasions.

That past volatility probably foreshadows what investors can expect in the future. Micron currently trades at 22 times earnings, which matches the 10-year average. If memory chip prices fall when the supply shortage eases, as they have following past supply shortages, Micron stock could drop sharply as its earnings decline. For that reason, I doubt Micron will be worth $5 trillion any time soon.

Seagate just gave back a chunk of its monster year-to-date run with no news attached, and the reason Micron is doing the opposite tells you everything about where the smart money actually sits in memory right now.

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Seagate Technology Holdings (NASDAQ:STX | STX Price Prediction) stock is down 4% to $827.88 in Friday afternoon trading, giving back a slice of a run that has tripled the shares this year. The move arrives without a company announcement, a guidance change or an analyst rating action attached to it, which points to profit taking after an outsized advance. Seagate shares are up 201% year to date.

Meanwhile, SanDisk (NASDAQ:SNDK) stock is falling 3% to $1,635.85, also with no fresh release to explain the slide. SanDisk has climbed 29% over the past month, so Friday’s pullback lands on shares that had been on a sharp, unbroken advance.

Micron Technology (NASDAQ:MU) stock is holding its ground, up 0.2% to $979.17. The Roundhill Memory ETF (CBOE:DRAM) is up 1% in the same session. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 1%, so the broader market is rising even as STX and SNDK fall.

Profit Takers Target Two Memory Stocks A review across financial wires turned up no same-day company announcement, guidance revision, pricing item, regulatory decision or analyst rating change from Seagate that would justify a session move of this size. The same holds for SanDisk, which has no fresh release or research note attached to Friday’s slide. That absence of a trigger is itself the story, because a stock carrying a run this large can shed a few percentage points on any quiet day as holders lock in gains.

The Roundhill Memory ETF rising in the same session in which Seagate and SanDisk fall is the fact that settles what this is. The fund’s advance alongside those two declines points to name-level selling that looks like portfolio housekeeping on a quiet news day for both companies.

Why Micron Is Holding Up Micron’s business is weighted toward the dynamic random access memory (DRAM) used in artificial intelligence servers, which is the corner of memory that has been bid up hardest as hyperscalers scale out AI training and inference. Seagate makes hard disk drives and SanDisk makes flash memory, so both sit on different rungs of the storage stack from Micron’s DRAM-heavy mix.

The steadiness in Micron stock while STX and SNDK drop provides a major clue for investors. If holders were rotating out of memory as a broad theme, Micron shares would be moving with the group. That the most AI-exposed name in the trio is holding says the selling in Seagate and SanDisk reflects their own runs, with the AI-memory trade still intact underneath.

What to Watch For Seagate stock, the risk worth naming is that a stock up this much for the year has further to fall on any given day than the size of the news would suggest. The same holders who rode Seagate shares higher can trim without needing a headline to justify it. SanDisk stock carries the same shape at a shorter horizon, with a month-long advance close to a third that can give back a few percentage points on nothing more than sellers finding the exit together.

Investors sizing their exposure to Seagate and SanDisk shares may want to keep an eye on whether either name gives back more of its run before the closing bell, and whether the DRAM memory ETF’s advance holds up alongside those declines. Micron stock’s steadiness on a day of storage weakness is itself the read here, and position sizing on names carrying moves this size should stay conservative.

Contact [email protected] for any questions or corrections.

David Moadel

David Moadel is financial writer specializing in stocks, ETFs, options, precious metals, and Bitcoin. David has written well over 1,000 articles for leading online publications, helping investors understand markets, income strategies, and risk.His work has appeared in The Motley Fool, InvestorPlace, U.S. News & World Report, TipRanks, ValueWalk, Benzinga, Market Realist, TalkMarkets, Finmasters, 24/7 Wall St., and others.With a master’s degree in education, David has taught at the elementary, high school, and college levels. That teaching background shapes his writing style: clear, educational, and practical. David has also built a loyal social-media audience by providing trustworthy financial content on YouTube, X/Twitter, and StockTwits.

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Micron just posted the highest revenue guidance in its history while the shortage fueling its growth gets worse, yet Wall Street wiped out tens of billions in market cap anyway. The signal hiding inside that contradiction is worth understanding before…

You don’t often see a trillion-dollar chipmaker shed tens of billions of dollars in market capitalization on a day when the shortage driving its earnings worsens. That is what happened to Micron Technology (NASDAQ:MU | MU Price Prediction) on Thursday.

The stock closed at $977.41, down 4.9% in the session. On the same day, Chinese AI chipmakers are raising prices on forthcoming Huawei and Cambricon accelerators because high-bandwidth memory has become prohibitively scarce and expensive in the grey channel there.

Those Chinese price signals do not translate cleanly into Micron revenue, because export restrictions distort that channel. They speak to global memory tightness rather than to sales into China. Micron is one of three companies that dominate advanced high-bandwidth memory production, alongside SK Hynix and Samsung, so scarcity in that market accrues mechanically to those three balance sheets.

Fifty-Seven Billion Gone in a Session Micron’s fiscal Q3 2026 revenue came in at $41.46 billion, beating the $35.25 billion consensus by 17.60% and rising 345.7% year over year. Non-GAAP EPS of $25.11 beat the $20.28 consensus by 23.79%, the seventh consecutive EPS beat.

GAAP gross margin ran at 84.6%, with non-GAAP at 84.9%. Operating income of $33.32 billion rose 1,436% year over year. Free cash flow was $18.30 billion on capex of $7.83 billion.

Guidance for fiscal Q4 calls for revenue of $50 billion plus or minus $1 billion, non-GAAP EPS of $31 plus or minus $1, and gross margin of approximately 86%. It is the highest revenue outlook the company has ever issued.

CEO Sanjay Mehrotra said DRAM and NAND demand keeps outrunning supply and management does not yet have “line of sight as to when memory supply will be able to catch up with increasing demand”. That is the operating context the market discounted this week.

What The Contract Book Says Micron has signed 16 Strategic Customer Agreements, typically five-year take-or-pay contracts, covering roughly 20% of DRAM volume and a third of NAND volume over the agreement period. Fourteen of the sixteen carry a minimum-price commitment worth about $100 billion cumulatively.

Micron is collecting roughly $18 billion in cash deposits and $4 billion in letters of credit against those obligations. Management described the deposits as separate binding commitments held during performance of the agreements.

HBM4 12-high volume ramp is tracking twice as fast as HBM3E 12-high, with over $1 billion in HBM4 revenue already shipped. Management expects tight supply-demand conditions to “persist beyond calendar 2027”, with only gradual improvement in 2028.

That is a pricing regime. The contract book converts it into visible revenue.

Market Reaction Over the past week, the stock is up 2.01%, over the past month up 12.54%, and year to date up 242.67%. One-year performance is 599.28%.

The post-earnings reversal after fiscal Q3 was severe. The day-of move was +15.74%, but the one-week change was -19.61% and the thirty-day change was -32.39%. Over the same thirty days, SPY returned 0.89%, and Invesco QQQ Trust (NYSEARCA:QQQ) returned -5.71%.

All 8 recorded earnings periods in the reaction history were beats, with an average one-week change of -3.44%. The Q3 26 one-week and thirty-day drawdowns are the largest in that record.

An Intel (NASDAQ:INTC)-backed start-up entering the memory-chip market also added a competitive overhang to the session.

Bull Case Hear the bear case first, because it has teeth. Memory has always been cyclical; the supply that cures a shortage is usually already being built, and the ten-year Treasury sits at 4.83%, the high of the supplied one-year series.

WTI crude is at $100 a barrel as of this writing, keeping the rate-shock scenario alive for growth semis. A stock up 242.67% year to date has priced in a great deal of good news.

The bull case still wins on the evidence. Q4 guidance of $50 billion in revenue at an 86% gross margin describes a business selling into a worsening shortage while locking customers into multi-year minimums. Forward PE sits at 6x against a trailing PE of 23x, with an analyst target price of $1,513.11 and 9 strong buys plus 35 buys versus 4 holds and 0 sells.

Bottom Line The Chinese HBM price signal, the Q4 guide and the contract book all point in the same direction, even as the stock moves the other way. If you own Micron for the AI memory cycle, this session is noise against a lengthening shortage (the power, cooling, and networking suppliers riding the same buildout are the subject of a free report we put together here).

The forward catalyst worth watching is capital returns. Management said it intends to increase them from December 9, 2026, the second anniversary of the definitive CHIPS agreements, and said that “over time, we expect to return 100% of our excess cash to shareholders”.

A trillion-dollar memory maker selling into a shortage it cannot fully supply is a rare setup. The market gave a cheaper entry into an intact thesis.

Is MU Stock a Buy? Micron looks attractive for long-term holders who can tolerate the volatility. The valuation looks demanding on trailing metrics and cheap on forward earnings; the shortage is intensifying, and the Strategic Customer Agreements give the next several years unusual revenue visibility for a memory maker.

SK Hynix (NASDAQ:SKHY) and Samsung compete for the same HBM demand, but the three-supplier structure benefits Micron directly, and it remains the only U.S.-based memory manufacturer. The real risk is macro. If the ten-year keeps climbing from 4.83% and WTI stays above $90, multiples in growth semis will compress regardless of fundamentals.

On balance, the fundamentals outweigh the macro overhang, and the stock has already done part of the work of resetting the entry. Verdict: Buy.

Contact [email protected] for any questions or corrections.

Tim Bohen of @Stockstotrade says "I'm all in on the AI trade," as he sees no cracks leading to substantial concerns in momentum. He likes Micron's (MU) consolidation building support for the next breakout, Oracle (ORCL) setting the stage for returning profits on its CapEx, and Apple (AAPL) expanding its tech reach through its new iPhone Duo and 18 models.

Key Takeaways Micron has signed 16 customer agreements covering about 20% of DRAM volume and one-third of NAND volume.MU's deals represent about $100B in remaining performance obligations from committed volumes and pricing.MU's take-or-pay deals use fixed prices or pricing bands to help protect against severe memory-price declines. Micron Technology, Inc.  (MU - Free Report) is taking steps to reduce one of the biggest challenges in the memory industry — sharp swings in revenues and profits. Its new Strategic Customer Agreements (SCAs) could provide more predictable demand and pricing while helping the company manage future memory cycles.

Micron has signed 16 SCAs covering customers across data centers, consumer markets and automotive. Most agreements run for five years through 2030, while automotive deals generally run for three years. Together, the contracts represent about 20% of Micron’s DRAM volume and one-third of its NAND volume.

The financial impact could be significant. During its third-quarter fiscal 2026 results, Micron revealed the SCAs signed so far represent about $100 billion of remaining performance obligations based on minimum committed volumes and pricing. The company also expects to receive about $22 billion in customer deposits and related financial commitments, with roughly $18 billion expected as cash deposits.

The key benefit is greater stability. The agreements are structured as take-or-pay contracts, meaning customers commit to specific volumes. Many also include fixed prices or price floors and ceilings. This can protect Micron from severe pricing declines during weaker memory cycles.

Micron’s recent results show why it is betting on SCAs. Third-quarter revenues jumped to $41.46 billion from $9.30 billion a year earlier, while non-GAAP earnings surged to $25.11 per share from $1.91. This is a massive year-over-year swing, primarily boosted by the ongoing AI-driven demand for memory and storage.

As SCAs expand, MU could gain greater earnings visibility and stronger cash flow planning. This will make Micron's growth story less dependent on short-term memory pricing and potentially more durable over the long term.

MU Rivals’ Strategy to Reduce Business CyclicalitySK hynix (SKHY - Free Report) and Sandisk Corporation (SNDK - Free Report) are pursuing strategies similar to Micron by building stronger customer commitments.

SK hynix has finalized long-term agreements with around 10 customers. These multi-year deals are designed to improve supply stability and support longer-term growth. In the second quarter of 2026, SK hynix’s revenues jumped 257% year over year to 79.32 trillion Korean won, while operating profit soared 557% to 60.54 trillion won.

Sandisk is also moving toward longer-term customer contracts through its New Business Model agreements. The company has signed eight such agreements, covering about 50% of its bits in fiscal 2027 and roughly two-thirds in fiscal 2028. These contracts include committed volumes, financial guarantees and pricing structures that can reduce exposure to traditional NAND price swings.

SanDisk's strategy is already supported by strong growth. The company’s fiscal 2026 revenues rose 175% to $20.25 billion, while data center revenues increased 437%.

For Micron, these competitors show that long-term contracts are becoming an important tool across the memory industry. However, Micron's 16 SCAs, covering about 20% of DRAM and one-third of NAND volume, give it significant visibility as it seeks to reduce earnings volatility.

Micron’s Price Performance, Valuation and EstimatesShares of Micron have surged around 242.3% year to date compared with the Zacks Computer and Technology sector’s return of 18%.

Micron Technology YTD Price Return Performance
Image Source: Zacks Investment Research

From a valuation standpoint, MU trades at a forward price-to-earnings ratio of 6.16, significantly lower than the sector’s average of 20.63.

Micron Technology 12-Month Forward P/E Ratio
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Micron’s fiscal 2026 and 2027 earnings implies a year-over-year increase of 791% and 113.7%, respectively. Bottom-line estimates for fiscal 2026 have been revised upward over the past 60 days, while estimates have been raised upward for fiscal 2027 in the past 30 days.

Image Source: Zacks Investment Research

Micron currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

AXQ Capital LP cut its stake in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 66.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,006 shares of the semiconductor manufacturer’s stock after selling 5,849 shares during the quarter. AXQ Capital LP’s holdings in Micron Technology were worth $3,470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. JNBA Financial Advisors boosted its stake in shares of Micron Technology by 77.3% in the second quarter. JNBA Financial Advisors now owns 39 shares of the semiconductor manufacturer’s stock valued at $45,000 after purchasing an additional 17 shares during the period. Ramsey Quantitative Systems purchased a new stake in Micron Technology during the 2nd quarter worth $46,000. RHL Group LLC purchased a new stake in Micron Technology during the 2nd quarter worth $47,000. Philadelphia Investment Partners LLC acquired a new position in Micron Technology in the 2nd quarter worth $54,000. Finally, Signature Resources Capital Management LLC lifted its holdings in Micron Technology by 1,125.0% in the 2nd quarter. Signature Resources Capital Management LLC now owns 49 shares of the semiconductor manufacturer’s stock worth $57,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Key Headlines Impacting Micron Technology Here are the key news stories impacting Micron Technology this week:

Positive Sentiment: Micron has reportedly signed multiyear strategic customer agreements covering approximately $22 billion in memory supply through 2030, including guaranteed floor prices. The contracts could improve revenue visibility and reduce the impact of the traditional memory-chip cycle. Micron: The Show Goes On Positive Sentiment: AI data-center demand continues to strain DRAM and high-bandwidth memory supplies. Micron is reportedly only 1.6 percentage points behind the No. 2 DRAM supplier after narrowing a 6.4-point gap in one quarter, suggesting potential market-share gains. Micron Is 1.6 Points From Taking the No. 2 Spot in DRAM Positive Sentiment: Recent results were exceptionally strong: quarterly revenue rose 345.8% year over year to $41.46 billion, while earnings exceeded analyst estimates. Analysts remain focused on whether elevated memory pricing and AI demand can support another leg higher. Micron’s Earnings Could Be a Catalyst for AI Neutral Sentiment: Investors are looking ahead to Micron’s September 30 earnings report for evidence that margins, memory prices and demand remain durable after the stock’s major AI-driven rally. A bullish outlook points to multiyear supply shortages, while historical memory cycles remain a concern. Micron’s Boom-and-Bust Risk Negative Sentiment: Thursday’s decline reflected a wider memory-stock selloff as rising oil prices increased inflation and interest-rate concerns, pressuring high-beta technology shares. Why Memory Stocks Are Falling Negative Sentiment: Valuation concerns have intensified after MU’s 662% one-year rally. Critics argue much of the AI upside is already reflected in the stock, while dependence on a major customer and the possibility of renewed memory oversupply create downside risk. Micron’s Rally Created a Problem Wall Street Cannot Ignore Negative Sentiment: Intel-backed startup Kepler Computing is targeting the memory-chip market, raising longer-term competitive concerns. Investors are also questioning whether China’s AI-chip development could eventually weaken Micron’s pricing power. Intel-Backed Startup Takes Aim at Memory Micron Technology Price Performance Shares of MU stock opened at $977.41 on Friday. The firm has a fifty day moving average of $929.44 and a two-hundred day moving average of $753.37. The firm has a market cap of $1.10 trillion, a P/E ratio of 22.13, a P/E/G ratio of 0.65 and a beta of 2.22. Micron Technology, Inc. has a 1-year low of $147.61 and a 1-year high of $1,255.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 2.98. Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 EPS for the quarter, topping the consensus estimate of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The business had revenue of $41.46 billion for the quarter, compared to analysts’ expectations of $35.91 billion. During the same quarter last year, the company posted $1.91 earnings per share. The company’s quarterly revenue was up 345.8% compared to the same quarter last year. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 72.93 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Monday, July 6th. Micron Technology’s payout ratio is 1.36%.

Insiders Place Their Bets In related news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the sale, the chief executive officer directly owned 264,503 shares of the company’s stock, valued at approximately $256,276,956.70. This represents a 13.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynn Dugle sold 1,300 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the transaction, the director owned 17,728 shares in the company, valued at $20,394,823.04. This trade represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 177,204 shares of company stock worth $182,156,264. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth Several brokerages have recently weighed in on MU. Wolfe Research set a $1,500.00 target price on Micron Technology in a research note on Thursday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,500.00 price target on shares of Micron Technology in a research note on Thursday, June 25th. Mizuho cut their price target on Micron Technology from $1,375.00 to $1,300.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 25th. Barclays increased their price target on Micron Technology from $1,175.00 to $2,000.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Finally, DA Davidson raised their price objective on Micron Technology from $1,500.00 to $2,000.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $1,295.63.

Get Our Latest Stock Analysis on Micron Technology

Micron Technology Profile (Free Report)

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

See Also Five stocks we like better than Micron Technology AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Free Report).

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The AI buildout is shifting gears, and the companies supplying its memory and compute are sitting on multi-year contracted revenue that Wall Street may still be underestimating. Three chipmakers stand at the center of a spending wave that Jensen Huang…

The AI buildout is entering a new phase where compute and memory sit on the same critical path, and three chipmakers are positioned to capture the spending wave.

NVIDIA (NASDAQ: NVDA | NVDA Price Prediction) CEO Jensen Huang put it bluntly on the latest call: “The buildout of AI factories, the largest infrastructure expansion in human history, is accelerating at extraordinary speed.” That expansion is pulling GPUs, DRAM, HBM, and NAND flash off the shelves faster than fabs can restock them.

Here is how NVIDIA, Micron Technology (NASDAQ: MU), and SanDisk (NASDAQ: SNDK) can each punch through to fresh round-number highs in 2027.

NVIDIA to $300: Vera Rubin Ramp Does the Heavy Lifting NVDA closed at $218.36, up 17.36% year to date. Wall Street’s consensus target sits at $327.65, and the fiscal 2028 EPS estimate has climbed from $12.6269 ninety days ago to $15.4581 today on 39 upward revisions.

At $300, NVDA would trade near 19x that fiscal 2028 number, cheaper than the S&P 500’s roughly 22x forward multiple. Q2 revenue jumped 105.8% YoY to $96.22B, Data Center rose 117%, and management guided Q3 to $108 billion.

Huang noted top-five hyperscaler capex is tracking to $1.3 trillion in 2027, and Vera Rubin’s revenue per gigawatt jumps to $40 billion versus $25 billion for Blackwell. Supply commitments of $279B tied to Rubin memory procurement give the ramp visible legs.

Micron to $1,750: HBM4 and Take-or-Pay Contracts Rewire the Cycle MU trades at $977.41, a 242.67% YTD move, with analysts targeting $1,513.11. A $1,750 stretch would price the stock at roughly 11x the $155.0252 fiscal 2027 EPS consensus, still a discount to the market.

Micron has beaten EPS 7 consecutive quarters, and CEO Sanjay Mehrotra said “DRAM and NAND industry demand continues to significantly exceed industry supply” with tightness lasting beyond calendar 2027.

The company has signed 16 Strategic Customer Agreements covering minimum contractual revenue of roughly $100 billion, shipped over $1 billion in HBM4 revenue, and guided fiscal Q4 to $50 billion in revenue and $31 EPS. Every upward revision on the fiscal 2027 line tightens the math.

SanDisk to $2,500: NAND Turns Into a Contracted Cash Machine SNDK is the wildest ride of the trio at $1,692.59, up 2,189.76% over the past year with consensus at $2,125.09. A $2,500 target implies roughly 12x the $214.0982 fiscal 2027 EPS estimate, which itself has risen from $175.3757 ninety days ago.

Q4 revenue soared 371.6% YoY and non-GAAP EPS of $39.25 obliterated the $33.28 estimate. CEO David Goeckeler said his eight New Business Model agreements now carry a minimum $93.9 billion in expected revenue and NBMs will represent approximately two-thirds of fiscal 2028 bits.

With bits on allocation beyond calendar 2027, pricing power stays firmly with SanDisk.

Bottom Line: A Coordinated Path Higher Getting NVDA to $300, MU to $1,750, and SNDK to $2,500 requires the AI capex cycle to keep compounding through 2027, but each name already has multi-year contracted revenue, expanding margins, and rising estimates behind it.

Memory inflation that pressures NVIDIA’s gross margin to 71% to 72% in Q4 is the same force pushing Micron and SanDisk higher. Spotting the next chip name of this scale early follows a repeatable pattern, one we reverse-engineered in a free playbook here. The blueprint for another leg up in 2027 remains on the table.

Contact [email protected] for any questions or corrections.

Micron Technology (MU.O) said ​on Friday its ‌direct labour employees in Taiwan would receive total ​fiscal 2026 ​rewards equivalent to 35 to ⁠68 months of ​pay, with minimum ​cash compensation of T$1.7 million ($53,809.39).

The U.S. memory chipmaker also ​said Taiwan employees ​who joined before August 29, ‌2025, ⁠would receive a T$1 million ($31,652.58) cash bonus for fiscal 2026.

The ​announcement ​comes ⁠after unions representing around two-thirds ​of Micron's workforce ​in ⁠Taiwan signaled widespread support among members for ⁠a ​strike.

($1 = 31.5930 ​Taiwan dollars)

September's historically weak seasonality and rising Treasury yields could create additional volatility, particularly for growth stocks with premium valuations. Higher rates can compress growth-stock multiples even when revenue, earnings, profitability, and forward estimates remain fundamentally strong. Rate-driven selloffs can create attractive entry points when share-price declines significantly outpace deterioration in underlying business fundamentals.

Severe memory shortages support exceptional economics, but they also create expectations that ordinary results cannot satisfy. Summary

Micron’s strongest pricing environment has become its toughest valuation test.

Micron Technology MU, the American memory-chip producer, fell approximately 4.2% to $984.62 Thursday even as a global high-bandwidth-memory crunch gave suppliers more pricing power. Chinese AI-chip companies raised prices as scarce HBM supplies pushed component costs higher, with Huawei's upcoming Ascend accelerator reportedly becoming 20% to 50% more expensive.

Micron's fiscal third-quarter results show just how dramatically that scarcity is flowing through the business. Revenue surged to $41.46 billion from $9.30 billion a year earlier, while adjusted free cash flow reached $18.3 billion. Management expects approximately $50 billion in fourth-quarter revenue and an adjusted gross margin near 86%.

That forecast implies another 20.6% sequential revenue jump, while third-quarter adjusted free cash flow represented a remarkable 44.1% of sales. Yet the chart flashes a clear valuation warning: Micron's $984.62 share price stands 56.92% above its GF Value™ estimate of $627.48. The shortage is delivering extraordinary economics, but the premium leaves little room for AI demand—or memory pricing—to cool.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

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Scott Bessent declared himself the house and promised bond traders they were playing a losing hand against Washington. The bond market has been calling that bluff ever since, and the pressure is now spreading from Wall Street trading desks to…

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Treasury Secretary Scott Bessent walked to the microphones this month with a line lifted from a poker table: “I am the house now.” The message to bond traders was blunt. Washington and Tokyo would jointly defend the yen, the Treasury would step up buybacks of longer-dated debt, and anyone shorting the long end of the curve was betting against a player with asymmetric information on Japanese monetary policy. Then the bond market answered. The 10-year Treasury yield closed at 4.83% on September 9, its highest reading of the year, while the 30-year sat at 5.28%. The house, at least on this hand, is losing.

Buyback Math That Did Not Add Up The proximate trigger was a Treasury announcement to repurchase up to $6 billion of roughly 10- to 20-year bonds, triple the previous standard operation. Traders had penciled in $8 billion to $10 billion or more. Against a Treasury market north of $30 trillion and a national debt that just crossed $40 trillion, the operation landed as what one economist called a drop in the bucket. The Federal Reserve is holding the funds rate steady at 3.75%, making this a long-end story. And the long end is being pushed by forces Bessent cannot buy back.

Capital Crowding Out Uncle Sam Start with the private-sector demand for capital that now rivals Treasury issuance. NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) reported fiscal Q2 revenue of $96.22 billion and disclosed supply obligations that surged to $279 billion, largely tied to memory for its Vera Rubin systems. Microsoft (NASDAQ:MSFT) spent $115.95 billion in capex in fiscal 2026, up 79.6% year over year. Micron (NASDAQ:MU) CEO Sanjay Mehrotra told investors he does “not have line of sight as to when memory supply will be able to catch up with increasing demand”. That capital has to come from somewhere, and the power, cooling, and networking suppliers behind the buildout are absorbing much of it (we profiled seven of them in a free report on the AI infrastructure trade). Every dollar of investment-grade paper sold to fund a data center is a dollar not buying a 10-year note.

Layer on Exxon Mobil (NYSE:XOM) territory. WTI crude closed at $91.48 on September 1, up 6.2% in a month, feeding the inflation risk premium bond traders are demanding. Core PCE just printed a fresh high at 130.658. On the bank’s earnings call, Jamie Dimon summarized the backdrop: risks are “shifting below the surface like tectonic plates, including geopolitical tensions and wars, sticky inflation, large global fiscal deficits and elevated asset prices.” The intervention did work in one market: USD/JPY fell from 163.82 on July 28 to 153.54 on September 9, forcing an uncomfortable unwind of the yen-funded carry trade that helps finance long-duration tech.

Where This Hits Main Street The clearest transmission runs through housing. D.R. Horton (NYSE:DHI) reported that its cancellation rate jumped to 20% from 17% a year earlier, with home sales gross margin squeezed to 20.7%. Management pegged the going market mortgage rate at roughly 6.5% and is buying rates down by 1.6% on average just to keep buyers at the closing table. Housing starts fell 12.4% in July to a 1.24 million annualized pace. Meanwhile, JPMorgan Chase (NYSE:JPM) is guiding to full-year net interest income of about $105.5 billion, benefiting from the same higher-for-longer curve that is punishing borrowers.

The signal to watch is the next buyback operation and the reception at the coming 20- and 30-year auctions. If the 30-year settles above 5.30% into year-end despite Treasury muscle, the market will have delivered its verdict: on this table, the house does not set the price.

Contact [email protected] for any questions or corrections.

Memory stocks fell sharply on Thursday as a jump in oil prices intensified broader market concerns about inflation and higher interest rates, weighing on high-beta technology shares.

Micron Technology MU and SanDisk each fell about 4%, while SK Hynix dropped more than 5%.

Seagate Technology declined 2.3%, and Western Digital was down about 3.7%.

The selling came as the broader market also weakened.

The S&P 500 and Dow Jones Industrial Average were both down about 0.6%, while the Nasdaq Composite fell 0.7%.

The Philadelphia Semiconductor Index declined 2.7%, with more volatile memory stocks taking a larger hit.

Investor sentiment deteriorated as US oil prices moved above $100 a barrel amid growing concerns that the conflict between the United States and Iran could keep energy prices elevated.

West Texas Intermediate futures for October rose above $100 a barrel, while Brent crude futures for November climbed above $105.

The oil surge also pushed the 10-year US Treasury yield above 4.9%, its highest level since November 2023.

Higher energy prices and bond yields can weigh particularly heavily on growth-oriented technology stocks by raising concerns about inflation and borrowing costs.

"The recent run-up in prices lays bare the market’s approach: this conflict will last longer than anticipated even a month ago, let alone at the beginning of the summer. If oil supply and exports are diminished, the oil balance remains tight ​, and prices remain elevated," PVM analyst John Evans said in a Reuters report.

A tame wholesale inflation report did little to ease concerns over the prospect of higher interest rates and surging oil prices.

The producer price index, a measure of wholesale inflation, rose a seasonally adjusted 0.4% in August, matching the Dow Jones consensus estimate.

On an annual basis, PPI increased 5.4%, remaining well above the Federal Reserve’s 2% inflation target.

The data came ahead of Friday’s closely watched consumer price index report.

Both the PPI and CPI feed into the Fed’s preferred inflation gauge, the personal consumption expenditures price index, which will not be released until after the central bank’s Sept. 16 interest-rate decision.

“The PPI release itself was inconclusive, in that doesn’t really help to settle the question of ‘hike or no hike’ from the Fed next week, but WTI oil prices surging back above $100 and Treasury yields hitting new highs is certainly raising the stakes for investors ahead of tomorrow’s crucial CPI report,” wrote Stephen Coltman, head of macro at 21Shares.

Fed funds futures were last pricing in a 74% probability of a quarter-point rate hike at the conclusion of next week’s meeting, according to the CME FedWatch Tool.

Goldman Sachs has identified early signs that investor interest in memory stocks is returning after a relatively quiet summer.

The firm said Micron and SanDisk are beginning to break out of downtrends that had constrained their shares during the summer.

Despite Thursday's decline, Micron remains up about 3% over the past five trading sessions, while SanDisk has gained more than 9% over the same period.

The potential shift comes as positioning across the broader artificial intelligence trade remains relatively subdued.

Goldman’s prime brokerage data showed gross leverage among US fundamental long/short hedge funds at the 27th percentile of the past year, while net leverage was only at the fourth percentile.

Options activity has also cooled.

The CBOE Semiconductor ETF Volatility Index has fallen to around 36 from roughly 65 in July, indicating a significant decline in expected swings across semiconductor stocks.

That combination could give investors who reduced their exposure during the summer room to rebuild positions if strong AI-related demand for memory continues.

The fundamental outlook is also providing support for the sector.

Susquehanna analyst Mehdi Hosseini expects average prices for dynamic random-access memory, or DRAM, to increase 50% sequentially during the current quarter, followed by another 20% increase in the fourth quarter of 2026.

That would provide a significant tailwind for Micron.

NAND flash prices are expected to rise even more sharply.

Hosseini forecasts a 60% sequential increase in NAND prices this quarter, followed by another 25% rise in the following quarter, potentially benefiting SanDisk.

The next major catalyst for Micron will be its fiscal fourth-quarter earnings, due on September 30.

Analysts expect revenue to reach about $50.8 billion, compared with management's guidance of roughly $50 billion.

Non-GAAP earnings are forecast at $31.28 per share, representing a 932% increase from the fourth quarter of 2025 and broadly matching the company’s guidance.

Micron is a major supplier to the AI industry, with about 24% of the DRAM market and 15% of the NAND market.

Strong results would therefore provide an important read-through for other memory companies, including SanDisk.

The extraordinary gains in memory stocks have nevertheless raised questions about whether valuations have run too far.

Micron has gained more than 600% over the past year, while SanDisk has surged more than 2,200%.

Yet their valuations remain below the broader technology sector on a trailing earnings basis, with Micron trading at about 21 times earnings and SanDisk at around 20 times, compared with a technology-sector average of roughly 32 times.

A bigger concern is whether memory manufacturers will add too much capacity and eventually trigger a supply glut if demand weakens.

For now, however, AI demand appears to be providing a substantial buffer, particularly in high-bandwidth memory, or HBM, used in advanced AI systems.

Demand for HBM is "already more than double the current supply and still growing very fast," D.A. Davidson managing director Gil Luria said in the MarketWatch report.

Therefore, even if Micron significantly expands its HBM capacity, it "will likely not be enough to meet demand in that timeframe," Luria said in emailed comments to the publication.

That tight supply-demand balance remains central to the bullish case for memory stocks, even as Thursday’s market-wide selloff highlights the risks posed by oil prices, inflation and higher interest rates.

Micron just posted numbers that look nothing like a commodity memory company, and management is pointing to billion-dollar contracts as proof the boom-bust cycle is finally broken. History has heard that argument before, and it has a consistent answer.

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Although the memory business has spent the past year looking less like a commodity industry and more like a franchise, Wall Street has a long memory for what usually happens next.

Micron Technology (NASDAQ:MU | MU Price Prediction) just posted fiscal Q3 2026 revenue of $41.456 billion, a figure that by itself exceeds the company’s entire fiscal 2025 revenue of $37.378 billion. Gross margin on the technology-packed NASDAQ name printed at 84.6% on a GAAP basis, a level the memory industry has never produced. The stock has vaulted to roughly $1,022.63, higher by around 656% over the past year.

But the last time Micron’s numbers looked structurally different, they weren’t. In fiscal 2022, the company earned $8.687 billion in net income on revenue of $30.758 billion. Twelve months later, fiscal 2023 revenue collapsed to $15.54 billion, gross profit turned negative at -$1.416 billion, and the bottom line swung to a -$5.833 billion net loss. An entire boom’s earnings were wiped out inside four quarters.

Memory’s Cycle Has Been the Same Story Since the 1990s Memory is the most brutally cyclical business in semiconductors, and it has been for three decades. Every meaningful DRAM upcycle since the mid-1990s has ended the same way: capacity built during the boom hits the market, hyperscalers pause on orders, average selling prices drop double digits, and the incumbents book multi-billion-dollar losses. The 2000, 2008, 2018, and 2022 peaks all followed the same script. What changes each time is the excuse for why this cycle is different.

The current excuse is AI, and on the surface it is a defensible one. CEO Sanjay Mehrotra told analysts on the June 24, 2026 call that “DRAM and NAND industry demand continues to significantly exceed industry supply” and that tightness is expected to persist “beyond calendar 2027.” Calendar 2026 industry data center DRAM and NAND bit shipments are on track to more than double the level of two years ago. HBM4, the memory sitting next to every leading AI accelerator, is ramping at what management says is twice the velocity of HBM3E.

A Structural Change That Has Never Been Tested The more interesting bull argument centers on contract structure. Micron has signed 16 Strategic Customer Agreements, five-year take-or-pay deals that management says will eventually cover “approximately half or more of our company revenue.” Fourteen of those agreements carry cumulative minimum-price revenue of roughly $100 billion over their remaining term, backed by $22 billion in customer cash deposits and letters of credit.

Mehrotra says the floor prices on those agreements support “a very robust gross margin for Micron, well above our peak quarterly margins in any past cycle.” If true, it would be the first genuine structural change to the memory cycle in the company’s history.

The observation is that none of those agreements has been tested through a downturn. Take-or-pay contracts have historically been renegotiated, restructured, or quietly walked away from when the customer’s own business turns and the alternative is bankrupting a supplier they still need. Micron itself concedes some agreements carry fixed prices or no bands and remain “subject to market conditions.” Whether hyperscalers honor floor prices in a scenario where spot DRAM trades well below those floors is a question the market has not yet been asked to answer.

Valuation Gut-Check At roughly $1,016.74, Micron carries a market capitalization near $1.15 trillion. The share count sits at 1.145 billion, and management is guiding fiscal Q4 to revenue of $50.0 billion with non-GAAP EPS of $31.00. On peak-cycle earnings power, that is a single-digit multiple, and it is precisely how memory stocks always look at cycle peaks. In fiscal 2022, MU traded at what appeared to be a mid-single-digit forward multiple. Twelve months later that cheap multiple was attached to an operating loss.

The stock’s own behavior is telling. Micron has now beaten expectations in 8 consecutive quarters, and the average one-week reaction to those reports has been -3.44%. After a 23.79% revenue surprise in fiscal Q3 2026, the stock fell 32.39% over the following thirty days. When the market stops rewarding blowouts, someone is usually looking past them.

What History Actually Says None of this argues that Micron is about to book another -$5.833 billion loss year. Long term, Wall Street and the semiconductor industry have always ground higher, and Micron’s franchise position in HBM is real. The company’s most recent balance sheet carries $24.995 billion in cash against $6.376 billion in reported total debt, meaning it is far better armored for a downturn than it was heading into 2023.

The point is narrower. An 84.6% gross margin has never held in memory, Strategic Customer Agreements have never been stress-tested through an actual price collapse, and every prior cycle that felt permanent ended inside a year. Wall Street’s long memory suggests the boom is real. It also suggests it ends, and riding a mania is fine as long as you plan the exit, which is the whole subject of our free bubble survivor’s handbook.

Contact [email protected] for any questions or corrections.

Global DRAM revenue reached nearly $155 billion in the second quarter of 2026, up about 60% from the first quarter, according to a report this week from market researcher TrendForce.

Micron Technology (MU -3.58%) grew faster than the market itself -- and faster than both companies ahead of it. The memory maker's DRAM revenue rose about 66% quarter over quarter to $36 billion, lifting its share of the market to 23.3%.

That leaves Micron just 1.6 percentage points behind SK Hynix (SKHY -4.37%), which held a 24.9% share on about $38.6 billion of DRAM revenue. Samsung Electronics (SSNLF +0.00%) led at 39.4%. One quarter earlier, Micron's deficit to SK Hynix was 6.4 points.

Image source: Micron.

A fast-closing gapRewind to the third quarter of 2025, and this race looked settled. SK Hynix led the entire DRAM market then with a 33.2% share, while Micron sat third at 25.7%, by TrendForce's count.

The gap between the two was 7.5 percentage points. It narrowed to 6.4 points by the first quarter of 2026, and it sits at 1.6 today. In short, the closing is accelerating.

SK Hynix isn't struggling, either. Its DRAM revenue grew about 38% sequentially in the latest quarter and has nearly tripled since the third quarter of 2025. It's simply being outgrown -- Micron expanded about 66%, and even first-place Samsung, at about 63%, grew faster.

After all, the market underneath them has exploded. Total DRAM revenue has more than tripled in three quarters, from $41.4 billion, as artificial intelligence (AI) data centers absorb memory faster than the industry can supply it.

TrendForce isn't the only firm showing a tight race, either. Counterpoint Research pegs the gap even tighter, and it said in August it expects Micron to surpass SK Hynix soon.

Micron's gain is coming from conventional memoryMicron's rise, notably, isn't being driven by high-bandwidth memory (HBM), the stacked chips that feed graphics processing units (GPUs) and other AI processors. Counterpoint estimates Micron's share of the HBM market actually fell during the second quarter, to 18% from 21%.

SK Hynix kept its HBM lead with about half of that market (down from 64% a year earlier), and Samsung climbed to 33%.

The share Micron won came from the conventional side. TrendForce attributes the quarter's revenue surge to sharply higher conventional DRAM contract prices, not volume. Bit shipments grew only modestly and suppliers' inventories sit at historic lows. Ordinary memory (the kind in servers, phones, and PCs) has turned scarce.

That mix matters: SK Hynix holds about half of HBM but only about a quarter of the overall DRAM market, so a quarter in which conventional prices surged while HBM prices slipped worked against it. Counterpoint cites HBM3E price declines and HBM4 launch delays.

Micron is hardly absent from the AI side, to be sure. Not only is the tech company's HBM4 product already in high-volume shipments for its lead customer's platform, but its total revenue also more than quadrupled year over year to $41.5 billion in its fiscal third quarter of 2026 (the period ended May 28, 2026).

But the second quarter's share shift happened in conventional memory, and I'd argue that detail matters more than the ranking itself.

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990.99

The 1.6 points separating Micron from SK Hynix equal about $2.5 billion of revenue per quarter at the market's second-quarter size. And most of that would become profit. Micron's guidance for its just-ended fiscal fourth quarter calls for gross margin near 86% and under $2 billion of quarterly operating expenses. At economics like those, closing the gap could mean about $2 billion of extra operating profit per quarter.

However, the driver behind the gain is cooling. TrendForce still expects conventional DRAM contract prices to climb in the third quarter, just far more slowly, at 13% to 18%. The firm says those same prices jumped about 93% to 98% in the first quarter.

And the next phase belongs to HBM4, where Samsung moved into mass production early and SK Hynix still holds about half of the overall HBM market.

So, will Micron take the No. 2 spot in DRAM? On this trajectory, it could happen as soon as the current quarter.

I'd just keep the milestone in perspective. Micron's stock, around $1,017 as of this writing, costs about 6.5 times its expected earnings for its next fiscal year. Investors, it seems, already treat profits this large as temporary.

Whether that skepticism proves right will likely be settled in HBM, where the AI spending is concentrated -- and there, Micron ranks third and lost ground last quarter. That's the ranking I'd keep an eye on.

Community Bank & Trust Waco Texas trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 17,649 shares of the semiconductor manufacturer’s stock after selling 495 shares during the quarter. Micron Technology comprises approximately 3.7% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 3rd biggest position. Community Bank & Trust Waco Texas’ holdings in Micron Technology were worth $20,372,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 976 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Micron Technology by 21.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after acquiring an additional 628 shares in the last quarter. United Bank purchased a new stake in Micron Technology during the second quarter valued at approximately $236,000. Schnieders Capital Management LLC. lifted its holdings in shares of Micron Technology by 67.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. grew its position in Micron Technology by 5.6% in the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock valued at $49,987,000 after acquiring an additional 21,619 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology In other news, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total value of $14,014,350.00. Following the completion of the sale, the executive vice president owned 191,021 shares of the company’s stock, valued at $178,469,010.09. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Scott Allen sold 879 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $1,000.00, for a total value of $879,000.00. Following the transaction, the chief accounting officer directly owned 34,958 shares in the company, valued at $34,958,000. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 177,204 shares of company stock valued at $182,156,264 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Micron Technology Stock Up 2.8% Shares of NASDAQ MU opened at $1,027.77 on Thursday. Micron Technology, Inc. has a 12-month low of $138.34 and a 12-month high of $1,255.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 2.98. The firm’s 50-day moving average is $929.41 and its two-hundred day moving average is $749.50. The company has a market capitalization of $1.16 trillion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 0.63 and a beta of 2.22. Micron Technology (NASDAQ:MU – Get Free Report) last posted its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, beating analysts’ consensus estimates of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The business had revenue of $41.46 billion during the quarter, compared to analyst estimates of $35.91 billion. During the same quarter in the previous year, the business posted $1.91 earnings per share. The company’s revenue was up 345.8% on a year-over-year basis. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Equities analysts anticipate that Micron Technology, Inc. will post 72.93 EPS for the current fiscal year.

Micron Technology Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 6th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, July 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s payout ratio is presently 1.36%.

Wall Street Analysts Forecast Growth A number of brokerages have recently issued reports on MU. Erste Group Bank raised Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, June 25th. Seaport Research Partners reiterated a “buy” rating on shares of Micron Technology in a report on Friday, August 14th. Wedbush upped their price target on Micron Technology from $1,300.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. The Goldman Sachs Group increased their target price on shares of Micron Technology from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Finally, Needham & Company LLC raised their target price on shares of Micron Technology from $1,550.00 to $1,650.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Buy” and a consensus price target of $1,295.63.

Read Our Latest Report on MU

Key Micron Technology News Here are the key news stories impacting Micron Technology this week:

Positive Sentiment: AI-driven supply shortage supports pricing: Data-center customers are reportedly receiving only a portion of the DRAM they need, while Micron expects supply conditions to be even tighter in 2027 than in 2026. High-bandwidth memory (HBM) also consumes substantially more wafer capacity, limiting conventional DRAM supply and potentially extending elevated prices. Micron: 3 Simple Reasons Why I’m Still Bullish Positive Sentiment: Analysts turned more constructive: Goldman Sachs indicated that the worst of the memory-chip downturn may be over, helping lift Micron and sector peers. Other coverage points to a possible further rally as AI infrastructure demand diverts capacity toward HBM and away from traditional memory products. Memory Stocks Rally as Goldman Says the Worst May Be Over Positive Sentiment: Exceptional profitability remains a catalyst: Scarce AI memory is sustaining unusually high pricing and margins. Investors expect Micron’s upcoming results to demonstrate that its recent earnings surge and margin expansion are durable, potentially providing another boost to the broader memory sector. Micron Gains 2.4% as Memory’s 86% Margin Era Refuses to Break Neutral Sentiment: Earnings are the key near-term test: Micron’s September 30 report is widely viewed as one of the year’s most important catalysts for AI-memory stocks. The company must confirm that demand, pricing and margins can support elevated expectations after a very strong year-to-date rally. Micron’s Sept. 30 Earnings Could Be the Most Important Catalyst Negative Sentiment: Risks remain high: Micron’s sharp appreciation leaves the stock vulnerable to profit-taking if earnings disappoint or memory prices weaken. Longer-term competition from China, possible normalization of extraordinary margins and portfolio moves by investors reducing Micron exposure also temper the bullish outlook. Micron and Sandisk Face a New China Threat Micron Technology Profile (Free Report)

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

Featured Articles Five stocks we like better than Micron Technology Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer Sovereign AI: Palantir and Nebius Cut the Cloud Cord Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Free Report).

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Avant Capital LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 664 shares of the semiconductor manufacturer’s stock, valued at approximately $766,000.

Other institutional investors also recently modified their holdings of the company. First PREMIER Bank purchased a new stake in shares of Micron Technology during the second quarter worth $115,000. Cooper Haims Advisors LLC purchased a new position in Micron Technology during the 2nd quarter valued at about $609,000. Proficio Capital Partners LLC bought a new stake in shares of Micron Technology during the second quarter valued at about $6,788,000. Teza Capital Management LLC increased its position in shares of Micron Technology by 10.6% during the second quarter. Teza Capital Management LLC now owns 1,934 shares of the semiconductor manufacturer’s stock valued at $2,232,000 after buying an additional 185 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Micron Technology by 26.8% in the second quarter. Rehmann Capital Advisory Group now owns 4,927 shares of the semiconductor manufacturer’s stock worth $5,676,000 after buying an additional 1,040 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth MU has been the subject of a number of analyst reports. Susquehanna raised their price objective on shares of Micron Technology from $1,750.00 to $2,000.00 and gave the company a “positive” rating in a research report on Thursday, June 25th. Bank of America upped their target price on shares of Micron Technology from $950.00 to $1,500.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. KeyCorp reiterated an “overweight” rating on shares of Micron Technology in a research note on Monday, July 20th. Barclays raised their price target on shares of Micron Technology from $1,175.00 to $2,000.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Finally, Stifel Nicolaus upped their price target on shares of Micron Technology from $550.00 to $1,500.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $1,295.63.

View Our Latest Report on Micron Technology Micron Technology News Summary Here are the key news stories impacting Micron Technology this week:

Positive Sentiment: AI-driven supply shortage supports pricing: Data-center customers are reportedly receiving only a portion of the DRAM they need, while Micron expects supply conditions to be even tighter in 2027 than in 2026. High-bandwidth memory (HBM) also consumes substantially more wafer capacity, limiting conventional DRAM supply and potentially extending elevated prices. Micron: 3 Simple Reasons Why I’m Still Bullish Positive Sentiment: Analysts turned more constructive: Goldman Sachs indicated that the worst of the memory-chip downturn may be over, helping lift Micron and sector peers. Other coverage points to a possible further rally as AI infrastructure demand diverts capacity toward HBM and away from traditional memory products. Memory Stocks Rally as Goldman Says the Worst May Be Over Positive Sentiment: Exceptional profitability remains a catalyst: Scarce AI memory is sustaining unusually high pricing and margins. Investors expect Micron’s upcoming results to demonstrate that its recent earnings surge and margin expansion are durable, potentially providing another boost to the broader memory sector. Micron Gains 2.4% as Memory’s 86% Margin Era Refuses to Break Neutral Sentiment: Earnings are the key near-term test: Micron’s September 30 report is widely viewed as one of the year’s most important catalysts for AI-memory stocks. The company must confirm that demand, pricing and margins can support elevated expectations after a very strong year-to-date rally. Micron’s Sept. 30 Earnings Could Be the Most Important Catalyst Negative Sentiment: Risks remain high: Micron’s sharp appreciation leaves the stock vulnerable to profit-taking if earnings disappoint or memory prices weaken. Longer-term competition from China, possible normalization of extraordinary margins and portfolio moves by investors reducing Micron exposure also temper the bullish outlook. Micron and Sandisk Face a New China Threat Micron Technology Trading Up 2.8% Shares of MU opened at $1,027.77 on Thursday. The firm’s 50 day simple moving average is $929.41 and its 200 day simple moving average is $749.50. The company has a market capitalization of $1.16 trillion, a P/E ratio of 23.27, a P/E/G ratio of 0.63 and a beta of 2.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 2.98. Micron Technology, Inc. has a 1-year low of $138.34 and a 1-year high of $1,255.00.

Micron Technology (NASDAQ:MU – Get Free Report) last announced its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $21.39 by $3.72. The business had revenue of $41.46 billion during the quarter, compared to analyst estimates of $35.91 billion. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. Micron Technology’s revenue for the quarter was up 345.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 earnings per share. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Sell-side analysts forecast that Micron Technology, Inc. will post 72.93 earnings per share for the current fiscal year.

Micron Technology Announces Dividend The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Monday, July 6th. Micron Technology’s dividend payout ratio is currently 1.36%.

Insiders Place Their Bets In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the sale, the chief executive officer owned 264,503 shares in the company, valued at $256,276,956.70. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP April Arnzen sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the sale, the executive vice president directly owned 85,737 shares of the company’s stock, valued at approximately $92,933,763.78. This trade represents a 31.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 177,204 shares of company stock valued at $182,156,264 over the last quarter. Insiders own 0.24% of the company’s stock.

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

Featured Stories Five stocks we like better than Micron Technology Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer Sovereign AI: Palantir and Nebius Cut the Cloud Cord

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Micron Technology is rated Buy with 26% upside; Sandisk rated Hold with 13% upside, based on normalized FY2028 models. MU benefits from HBM-driven DRAM scarcity and strategic contracts, while SNDK relies on robust long-term agreements to mitigate NAND volatility. Sandisk's NBMs provide strong cash conversion and risk transfer, but NAND supply is expected to loosen in 2H27, limiting upside.

Micron (MU +2.75%) is one of the three leading names in the memory chip space. It produces both DRAM and high-bandwidth memory, and its fingers are on the pulse of the whole tech industry due to its size and breadth. Recently, it set a new operating margin record, which one might naturally view as a positive. However, that fact should be raising some red flags for investors.

Why? Well, the memory chip industry is cyclical, and normally, once its margins reach a peak, it's time to get out. But is that the case here? After all, this is the biggest up phase of a cycle Micron has ever seen. Well, I expect that history has some valuable lessons to teach.

Image source: The Motley Fool.

Cyclical businesses are tough to invest in The memory chip industry is highly cyclical due to the technology being commoditized. There isn't a ton that separates Micron's memory chips from those of its chief competitors, Samsung and SK Hynix, and its customers have no problem switching from one provider to another if it means getting a lower price. As a result, memory chip prices are dictated by supply-and-demand rules.

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Right now, demand for memory is off the charts due to AI hyperscalers spending hundreds of billions of dollars on AI data centers. Their build-outs have consumed all the available memory chips that the world has the capacity to produce, and they still need much more -- a situation that has caused prices to skyrocket. Nothing like this has ever been seen in the memory chip industry.

Furthermore, AI companies plan to increase their spending on data centers over the next few years, and while the memory-chip makers are working to bring new production capacity online, the increase from those new facilities may not be enough to bring supply and demand back into balance. Additionally, it will be mid-2027 to 2028 before Micron's new production facilities are online.

This may extend the shortage phase of this memory cycle for several years, but that's not exactly what history tells us happens.

Could a crash be coming? Over the past two decades, Micron's gross and operating margins have gone up and down based on the demand cycle.

MU Gross Profit Margin (Quarterly) data by YCharts.

There were obvious crashes during the financial crisis of 2008 and 2009, as demand for electronics dropped. There was another in 2023 when the world was convinced we were heading into a recession. Between those dips, there were minor peaks and valleys, but nothing compares to what investors are seeing now. Prior to the current peak, Micron reached its highest margin levels in 2019, when its gross margin hit 61% and its operating margin hit 52%. We're clearly well above those levels, and it doesn't appear that there's a lot higher that these figures can go.

All of this stems from soaring memory chip prices: Micron is paying roughly the same amount for its inputs, but it can sell its products for much more than it used to. That has led to soaring profits and taken Micron's stock to new heights. However, history tells us that these peaks are often followed by deep valleys. Should investors expect that to be the case this time?

I don't think so.

Micron's management recently told investors that based on what it can see, the "tightness" in the memory chip market won't subside until after 2027 at the earliest. That leaves several quarters for Micron to enjoy its prolonged peak, but what happens after that?

As mentioned above, new production facilities could increase supply to the point where demand no longer outpaces it. Without a shortage, memory chip prices could tumble and take Micron's profit margins down with them. However, that doesn't mean the elevated demand cycle is over. Most projections point to the massive AI build-out lasting through at least 2030, which means Micron will have an elevated demand cycle, but its margins may fall to the historical peaks of 50% to 60%. That's still a great, viable business at those levels, and I think Micron can remain a strong investment. In addition, Micron now has numerous multiyear contracts that include pricing floors and sales volume minimums with some of its largest clients. Those deals should support strong margins for the company through 2030.

I don't think history will repeat itself for Micron's stock through 2030, and that makes it a strong buy now.