Latest update
$853
Updated: Jul 16, 2026, 8:51 PM UTC
Browsing public data
Micron Technology, a key player in memory and storage, demonstrates robust financial health with explosive growth in revenue, net income, and free cash flow. The company boasts high profitability margins and a strong balance sheet, supported by light debt and strong debt service coverage. Valuation appears attractive on a forward-looking basis.
Revenue
The total dollars the company billed customers. When this number grows quarter after quarter, the business is finding more demand.
Latest
↑$41.5B
Q2 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↑+73.7%
vs Q1 2026
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
↑+345.7%
vs Q2 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
Net income
What's left from revenue after paying every cost — employees, materials, taxes, interest. Sometimes called profit or 'the bottom line.'
Latest
↑$28.2B
Q2 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↑+104.9%
vs Q1 2026
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
↑+1398.3%
vs Q2 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
Free cash flow
The cash actually left in the bank after the company has paid for everything and reinvested in itself. Harder to fake than net income.
Latest
↑$17.6B
Q2 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↑+218.4%
vs Q1 2026
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
↑+951.0%
vs Q2 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
| Metric | 3 yr | 2 yr | 1 yr |
|---|---|---|---|
| Revenue | — | — | +346.2% $9.3B→$41.5B |
| Net income | — | — | +1401.1% $1.9B→$28.2B |
| Free cash flow | — | — | +952.7% $1.7B→$17.6B |
P/E TTM
↑19.3×
Trailing twelve months. Today's price divided by the last year of actual earnings.
P/E NTM
↑5.7×
Next twelve months. Today's price divided by what analysts expect the company to earn over the coming year.
Profitability
↑Strong
Operating margin (and the wider return profile) tells you how efficiently each dollar of sales becomes profit. High and rising = pricing power; low or falling = the business is grinding.
Share count
→Stable
Are the buybacks outrunning the stock-based comp? A shrinking share count means every existing share owns a bigger slice of future earnings.
Debt load
↑Light
Total debt against cash and earnings power (EBITDA). Light debt leaves room to invest and weather downturns; heavy debt shrinks the margin for error.
Debt service
↑Strong
Whether the cash the business generates easily covers its interest and loan payments. Strong here = no forced selling in a bad year.
Cash return at today's price
↓0.8%
Free cash flow divided by market cap — the cash yield you're getting for the price you pay. Above ~6% is rich, below ~3% is thin. P/E shown when the yield is too small to be useful.
Micron’s fundamental story remains compelling, indicating a healthy business in a strong growth cycle. However, the stock is currently undergoing a tactical markdown, making this week less ideal for immediate entry. We are waiting for the price to stabilize or show renewed strength before re-engaging, even though the broader trend is positive. The disconnect between excellent long-term fundamentals and recent short-term price decline necessitates a cautious approach this week.
Short-term thesis
Micron is exceptionally well-positioned to capitalize on the secular demand for high-performance memory driven by AI and data center expansion. The company's explosive financial growth, robust profitability, and solid balance sheet underscore its market leadership. Despite recent tactical stock weakness, its attractive forward valuation and critical role in enabling advanced computing suggest significant upside as demand continues to translate into strong earnings.
Long-term exposure
Own
The business backdrop is strong enough for long-term exposure.
Entry window
Wait
Micron is in a medium-term markup phase driven by strong fundamentals and secular tailwinds. However, this week's price action shows a continued tactical pullback, with the stock trading significantly below its short-term average and contracting volume. While the long-term outlook remains positive, patience is advised as we await a more constructive entry point or confirmation of support.
Risk check
Watch
Risk is manageable, but position size and timing still matter.
Alignment
Aligned
The weekly setup and the long-term case are pulling together.
What supports it
What limits it
Long-term thesis
The exponential growth of AI and advanced data center infrastructure creating insatiable demand for high-performance memory solutions.
Bottleneck Role
Micron acts as a critical bottleneck facilitator, providing the advanced memory and storage solutions (HBM, CXL, LPDDR) that are essential for unlocking the full potential of AI and next-generation data center infrastructure. Without sufficient supply of these specialized products, the scaling of these technologies would be severely constrained.
Consensus Blind Spot
The market consistently underestimates the long-term magnitude and duration of AI-driven memory demand, often applying traditional cyclical valuations to what is becoming a structural demand shift. This leads to conservative earnings forecasts and a potentially undervalued stock, especially during tactical pullbacks.
Demand Gap
There is a significant and growing gap between the rapidly escalating demand for specialized AI memory (HBM, LPDDR5X/6, CXL-enabled DRAM) and the current and projected supply capacity. This imbalance ensures sustained pricing power and high utilization for leading manufacturers like Micron.
Demand to Equity Scenarios
Accelerated AI adoption and enterprise AI infrastructure build-out
Demand
—
Earnings
+75%
Equity implication
+100%
Micron captures higher market share in HBM/CXL, leading to higher ASPs and increased sales volume for high-margin products.
Steady growth in AI, cloud computing, and automotive memory
Demand
—
Earnings
+40%
Equity implication
+50%
Consistent demand for standard DRAM and NAND, stable ASPs, and gradual increase in HBM/CXL sales.
Global economic slowdown leading to reduced tech spending and oversupply in commodity memory
Demand
—
Earnings
-25%
Equity implication
-35%
Lower average selling prices across all memory segments, reduced capacity utilization, and delayed AI infrastructure investments.
Dependency Chain
Repricing Triggers
Must be true
Thesis broken if
What changed
Signal
Conviction
Long term
Stock
Added since last run
9No longer flagged
0Nothing dropped this run
The prior reasoning correctly identified strong fundamentals and a broader markup cycle. It was also accurate in cautioning that the recent sharp decline and trading below the short-term average warranted patience and a wait-and-see approach, as the stock indeed saw minimal movement following the call.
Jul 16, 2026
LatestUpdated Jul 16, 2026, 8:51 PM UTC
Price at review
$853
Micron is in a medium-term markup phase driven by strong fundamentals and secular tailwinds. However, this week's price action shows a continued tactical pullback, with the stock trading significantly below its short-term average and contracting volume. While the long-term outlook remains positive, patience is advised as we await a more constructive entry point or confirmation of support.
Jul 7, 2026
Updated Jul 7, 2026, 2:18 PM UTC
Price at review
$908
Micron's fundamentals remain exceptionally strong, indicating a continued markup phase over the medium term. However, the stock's recent sharp decline and trading below its short-term average suggest caution is warranted this week. We are waiting for more constructive price action or a retest of longer-term support before considering a new entry, especially given the significant run-up and recent retracement. The overall trend is still positive, but tactical patience is advised.