Loading page
What we know about this company
Open this Idea →Micron Technology, Inc.
Strong view: price may rise
our belief 9/10 · confidence score 77/100
Our longer-term business view, not a prediction for this week.
May rise over the next year. Open for the simple explanation.
Why we are waiting
The latest research review is too old and needs an update.
Next check: Complete a new dated research review.
The idea was last reviewed 10 days ago. The limit is 5 days. Whether fiscal Q4 results and the first fiscal 2027 outlook confirm HBM demand, pricing and margins remain elevated. Then update the item listed below.
Micron is at the center of the most severe memory shortage in 15 years — an AI-driven DRAM/NAND/HBM supercycle. Fiscal Q3 2026 revenue hit a record $41.5B (+346% YoY) at 84.9% gross margin and $25.11 EPS, with fiscal Q4 guided to ~$50B revenue, ~86% gross margin and a record ~$31 EPS. HBM capacity is now sold out through calendar 2027 — one full year beyond the original thesis horizon — with price and volume already locked; HBM4, built on 1-beta DRAM technology, entered high-volume shipments for the lead customer platform in Q3 FY2026 and qualification samples have shipped to multiple additional end-customers, with HBM4E development underway for volume production in calendar 2027. DRAM/NAND contract prices are still rising into Q3 2026 (TrendForce: DRAM +13–18%, NAND +10–15% QoQ), with the shortage projected to persist well into 2027. Yet MU trades near ~6x forward earnings — roughly 80% below the ~30x semiconductor median — because the market reflexively assigns memory a trough cyclical multiple, betting an imminent downturn. The mispricing is duration: locked HBM contracts now extending through 2027 and supply discipline make this AI cycle structurally longer and higher than prior memory cycles, so both forward EPS and the multiple are too low, and sustained pricing forces upward revisions plus a re-rating. This is saved analyst research, not a ready conclusion.
The research view is strong at 9/10, but this Idea is still being checked. It is not a current opportunity until every required fact is complete.
View unchanged Sep 2, 2026
$975.26
last session
Quarterly results in 11 days · Sep 23 · Date not confirmed
Micron makes the memory chips that computers and phones use to think and store things. Right now the world is desperate for a special kind of memory (called HBM) that sits next to the chips running artificial intelligence, and there isn't enough of it. Micron is one of only three companies on Earth that can make it. That has sent its business to record highs: it reported about $41.5 billion of sales in one recent quarter and expects roughly $50 billion the next, at huge profit margins. The one thing that has to go right: the AI buying stays strong and Micron keeps its HBM contracts, which are already booked through 2027. The one thing that could go wrong: memory has always been boom-and-bust, prices could tumble, and a fast-growing Chinese rival (CXMT) is grabbing share. The stock has already tripled off its July low to about $943, near its record — so a lot of good news is already in the price.
Loading company numbers
Loading latest quarterly results
Loading ownership and market expectations
Supplemental SEC filing context loads independently from the company evidence above.
Checking the newest complete filings from the large investors we follow. The rest of this page is ready while these delayed reports load.
No company checks yet for MU.
The open Idea research history is on the idea page.
A company check will appear here after the next scheduled review.
1 check left
Current active Idea · Record saved Aug 11, 2026 · check date unavailable. The original research wording and date checks stay available inside.
These events and risks belong to TickerYou’s current Idea.
An event can change what investors believe. A risk shows how our research could be wrong.
Watch for a company announcement or filing that confirms or moves this date.
Computed by TickerYou from 1254 completed daily closing sessions supplied by Yahoo Finance, through Sep 10, 2026. The Sep 11, 2026 quote-session candle was excluded because a delayed feed cannot prove it was final. No company fundamentals enter this reading.
The price has been trending up across both the medium and longer term.
Price movement can help with timing and can warn when the market disagrees with our Idea. It does not tell us what the business is worth.
Watch whether the close holds above the 50-session average at $929.75; the 200-session average at $618.23 is the slower reference.
Last closing price
$977.41
Sep 10, 2026
Average price over 20 trading days
$961.54
Close is 1.7% above this average
Average price over 50 trading days
$929.75
Close is 5.1% above this average
Average price over 200 trading days
$618.23
Close is 58.1% above this average
Recent price speed
53.3 · balanced
A 14-day speed reading; lower than 30 is low and higher than 70 is high
Is the trend speeding up?
Above signal
Shows whether the shorter trend is pulling ahead of or behind the longer one
The moving averages are simple averages over exactly 20, 50, and 200 daily trading sessions. RSI uses Wilder's 14-session smoothing; a flat series is neutral at 50. MACD uses 12- and 26-session exponential averages with a 9-session signal. A window is never shortened when history is missing. Every comparison uses the final dated daily close—not an intraday quote—so all figures share one observation boundary. A candle dated to an active delayed-quote session is excluded because it may still be changing. These are trend and momentum references, not a Buy/Sell score.
Three checks use SEC filings alone. The net-buyback check requires matching stated filing and quote currencies, a compatible single-ticker SEC share-unit receipt, and a dated provider quote; its row explains any refusal. One dated deep-review judgement is marked researched; missing checks are excluded, never treated as zero.
A score requires both core checks — what the share count did and pay in stock versus revenue — plus at least one other established check. Missing core check: pay in stock, vs revenue.
A company can grow while each shareholder owns a smaller slice. Share issuance and stock pay can offset part of the business gain.
Establish the missing core check first; other unestablished checks: buybacks net of new stock sold; room left under the charter.
+0.9% between the 2025-06-18 and 2026-06-17 filing cover pages.
the two figures cover different periods, and a ratio across mismatched periods would be invented
the two sides cover different periods
The deep review’s dated judgement (published Aug 20, 2026; evidence cutoff unavailable): how much of a 1% ownership slice at that review could survive through its horizon.
authorized shares are measured on 2026-05-28 while outstanding shares are measured on 2026-06-17; different dates cannot establish current headroom
review saved Aug 20, 2026 · check date unavailable
Owning Micron, your slice is likely to grow, not shrink. The company bought back stock in fiscal Q1 and Q2 2026 (~$300M then ~$350M), paused in Q3 to pour cash into AI-memory factories, and raised its dividend. Management says it intends to return 100% of spare cash to shareholders over time, mostly through buybacks — one analyst (Bank of America) estimates up to ~$31.7B of repurchases in fiscal 2027. It funds its ~$27B of factory spending from its own cash flow, so it does not need to sell new shares to survive. Employee stock pay exists but is small next to a business this profitable. I could not pin an exact insider-ownership figure from the latest proxy; insiders hold only a small stake, as is normal for a company this size with no controlling founder — so the buyback pattern, not insider control, is what matters here.
1M
3M
6M
1Y
Computed from SEC filings — never model output. Blank means it cannot be computed honestly.
Revenue grew 167.0% versus the comparable filing period, while operating margin was 65.6%.
Revenue shows whether demand is expanding, while operating and free-cash-flow margins show how much of those sales becomes profit and cash. Net cash or debt affects how resilient that result is.
Watch whether the next comparable filing confirms the revenue direction and whether operating and cash-flow margins hold or improve.
Every figure comes from an SEC filing and carries the day it was measured. Nothing here is estimated.
The filed share count increased 0.92% over roughly a year. That is dilution: each existing share represents a smaller percentage ownership slice.
A growing business can still deliver weak per-share progress when the share count grows too. The count says what happened to ownership slices, not why the company issued shares.
Watch the next filing cover page and the cash-flow and stock-compensation disclosures to see whether issuance continues and what caused it.
1.13 B
total shares when last reported · Jun 17, 2026 · 3 months ago
Each quarter is named by the fiscal quarter the company itself reported — the label its release used and its consensus estimate was quoted against — and by the month that quarter ended, taken from the filer's own XBRL period boundaries. A fiscal year need not follow the calendar, so Apple's Q2 runs January to March; naming the quarter end keeps that true in both calendars, and no quarter number is ever inferred from a date. Quarterly financials beside this card names the same quarter the same way. TickerYou takes the figures from the release and its filing; every word, sign and percentage is calculated by the app from those stored numbers. A post-release reaction appears only with the stored first-close measurement stamp; otherwise the card says the window is not established and computes no divergence. EPS here is on the basis consensus quotes — adjusted for most US names — so it can legitimately differ from the GAAP figure in Quarterly financials. Rows marked [backfilled] were confirmed from archived coverage after the fact — a lower evidence tier than live capture, and labelled so.
Q3 FY2026 · May 2026: EPS beat the stored consensus estimate, while revenue beat the stored consensus estimate. No post-release price reaction is asserted because its stamped measurement window is not established.
A surprise shows how the release differed from expectations, not whether the business is good or the thesis is right. The price reaction shows repricing, not its cause.
Watch whether the next comparable release confirms the result; one beat or market move does not establish a durable trend.
Quarter ended May 28, 2026 · Reported Jun 24, 2026 · stock move after results · not shown
[backfilled] Record quarter ending May 28, 2026: revenue surged more than fourfold year-over-year on sevenfold data-center growth to $11.5B, GAAP gross margin expanded to 84.6%, and management guided fiscal Q4 to $50B revenue ±$1B with ~86% gross margin — the most aggressive forward guidance in company history.
Quarter ended Feb 26, 2026 · Reported Mar 18, 2026 · stock move after results · not shown
[backfilled] Micron set fiscal Q2 2026 records across revenue, gross margin, adjusted EPS, and free cash flow driven by surging AI-era HBM and data center memory demand; Q3 guidance of ~$33.5B revenue and ~$19.15 adjusted EPS signaled further acceleration.
Quarter ended Nov 27, 2025 · Reported Dec 17, 2025 · stock move after results · not shown
[backfilled] Record third-consecutive-quarter revenue of $13.64B (+57% YoY, +21% QoQ) with non-GAAP gross margin of 56.8% and non-GAAP EPS of $4.78; Q2 guidance of $18.7B revenue at ~68% gross margin (~+$5B sequential) far exceeded Street, driven by accelerating HBM and AI-infrastructure demand.
Quarter ended Aug 28, 2025 · Reported Sep 23, 2025 · stock move after results · not shown
[backfilled] Record quarter driven by AI data center demand: Cloud Memory Business Unit revenue more than tripled YoY to $4.54B; gross margins expanded sharply; company guided Q1 FY2026 sequential revenue growth of ~$1.2B with gross margins projected above 50%.
Quarter ended May 29, 2025 · Reported Jun 25, 2025 · stock move after results · not shown
Computed from SEC filings — never model output. Each quarter is named by the fiscal quarter the company itself reported and the month that quarter ended, through the same resolver the Earnings card beside this one uses; where no release established a fiscal label, the quarter is named by its end alone rather than by a quarter number guessed from the date. EPS is GAAP diluted, as filed, so it can legitimately differ from the adjusted figure in the Earnings card (consensus is quoted adjusted). Y/Y compares the same fiscal quarter a year earlier; a comparison that cannot be made honestly is an em-dash that says why.
Q3 FY2026 · May 2026: Revenue grew 345.7% year over year; net income grew 1398.3% year over year; and net profit margin was 68.1%, up 47.9 percentage points.
Comparing the same fiscal quarter a year earlier controls for seasonality. Revenue direction and margin direction together show whether sales are translating into profit, but one quarter is evidence—not a complete thesis.
Watch whether the next comparable quarter confirms both the sales direction and the margin direction.
Complete SEC 13F filings only. These delayed reports show filed share amounts, not a manager’s full portfolio, intent, or a proven trade.
5 of 14 recent complete filings report ordinary shares. Compared with the prior report: 1 with more shares, 4 with fewer shares, and 1 that no longer report it.
A large, repeated position can support a research story, but these filings arrive late and do not show an investor’s full portfolio or reason for owning the stock.
Look for the same investor to keep a meaningful position across several reports.
No numeric score or recommendation is made from these delayed filings. They are one piece of background evidence, not a buy or sell signal.
14 current complete filings of 16 tracked managers. 2 investors have only an older filing and are left out of this current view. Current holding dates span Mar 31, 2026 to Jun 30, 2026.
The SEC’s structured data establishes the total share count but carries no count of the shares structurally excluded from ordinary trading. Control and affiliate holdings, restricted stock and locked-up shares are disclosed publicly — in proxy statements, prospectuses and 8-Ks — as prose with no tag to read them from, and have not been researched into a figure this card can pair with the total above.
Share count increased 0.92% — dilution risk: each existing share owns a smaller percentage of the company.
Both counts in full, exactly as each cover page printed them, and both bars measured from zero against the larger — so a small move looks small.
measured Feb 27, 2025, 18 months ago — from the 10-K filed Oct 3, 2025
Market value of shares held by non-affiliates under the SEC filing definition. This is a dollar amount, not a share count. It is never converted into one to fill the line above.
Not researched yet. Release dates, tranche sizes, the shares issued at IPO and the insider breakdown are prose in the prospectus and in 8-Ks, with no XBRL tag to read them from. They appear here once TickerYou research can quote the source clause behind each figure—never estimated in the meantime.
[backfilled] All three metrics — revenue, gross margin, and non-GAAP EPS — cleared the high end of guidance, led by HBM revenue that grew nearly 50% sequentially on AI-infrastructure demand; management guided Q4 revenue to a $10.7B midpoint, a further 15% sequential step-up.
| (USD) | Q3 FY2026Quarter ended May 2026 | vs last year |
|---|---|---|
| Revenue | $41.46 B | |
| Profit after costs | $28.24 B | |
| Profit per share | 24.67 | |
| Profit margin | 68.1% |
† derived: the fiscal year minus its three reported quarters — no 10-K reports a Q4 figure directly. For EPS this assumes per-share figures add across the year.
| Quarter | Revenue | Y/Y | Net income | Margin |
|---|---|---|---|---|
| Q2 FY2026 · Feb 2026 | $23.86 B | $13.79 B | 57.8% | |
| Q1 FY2026 · Nov 2025 | $13.64 B | $5.24 B | 38.4% | |
| Q4 FY2025 · Aug 2025 | $11.31 B † | $3.20 B † | 28.3% | |
| Q3 FY2025 · May 2025 | $9.30 B | $1.89 B | 20.3% | |
| Feb 2025 | $8.05 B | $1.58 B | 19.7% | |
| Nov 2024 | $8.71 B | $1.87 B | 21.5% | |
| Aug 2024 | $7.75 B † | $887.00 M † | 11.4% | |
| May 2024 | $6.81 B | $332.00 M | 4.9% |
MU is 14.6% of Appaloosa's disclosed portfolio ($1.13 B). Holdings as of Jun 30, 2026. Reported in all 6 quarters we can see.
MU is 0.55% of Bridgewater Associates's disclosed portfolio ($134.67 M). Holdings as of Jun 30, 2026. Reported in 4 consecutive quarters.
MU is 0.34% of Renaissance Technologies's disclosed portfolio ($244.22 M). Holdings as of Jun 30, 2026. Reported in 4 consecutive quarters.
MU is 0.32% of Soros Fund Management's disclosed portfolio ($25.88 M). Holdings as of Jun 30, 2026. Reported in 2 consecutive quarters.
MU is 0.08% of Citadel Advisors's disclosed portfolio ($693.18 M). Holdings as of Jun 30, 2026. Reported in all 2 quarters we can see.
Market-neutral / multi-strategy: Citadel often reports shares, calls, and puts at the same time. These rows show reported exposure, not a simple bullish or bearish bet.
Citadel Advisors (Ken Griffin) reports a CALL option ($16.34 B). The filing does not prove whether it is a bet or a hedge, so options never count as ordinary shares above.
Citadel Advisors (Ken Griffin) reports a PUT option ($22.25 B). The filing does not prove whether it is a bet or a hedge, so options never count as ordinary shares above.
1 newly or higher reported, 4 lower reported, 1 absent. Reported amounts only; corporate actions are not normalized.
Reported by 5 of 14 managers with a current filing; at least 0.5% of disclosed 13F value for 2.
Largest reported position: Appaloosa (David Tepper) at 14.6% of disclosed 13F value ($1.13 B).
Across 6 quarters of stored filings: 11 newly or higher comparisons, 7 lower or absent, 0 unchanged, across 6 managers. Corporate actions are not normalized.
No numeric score is shown: filing comparisons are not adjusted for splits or other corporate actions, so reported changes cannot be treated as trades.
13Fs can arrive up to 45 days after quarter end. They omit short positions, cash, and securities outside the SEC's 13(f) list. Higher, lower, new, and absent describe filed share amounts, not proven purchases or sales; splits and other corporate actions are not normalized. This is context for a thesis, never a call by itself.