Micron Technology (MU)
Makes the memory (DRAM) and storage (NAND) chips tucked inside your laptop, phone and the servers running everything.
Is Micron Technology a good stock for a UK beginner?
The honest version: Makes the memory (DRAM) and storage (NAND) chips tucked inside your laptop, phone and the servers running everything.
Over about 2 years to 2026-07-31. This is the share price only; any dividends would add to it. And it's the USD return - as a UK investor your actual £ return also moves with the exchange rate. Past performance is not a guide to the future, and it could just as easily have fallen.
Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.
Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.
structural AI and data-centre memory demand permanently lifts average profitability across future cycles
a severe, extended downcycle or intensified competition from other memory makers compresses margins for a long period
What does Micron Technology do?
Micron makes the memory and storage chips that other companies build into their gadgets - laptops, phones, data-centre servers, you name it. Here's the catch: memory chips are famously cyclical, meaning prices boom and bust with global supply and demand, so Micron's revenue and profit can swing hard from one year to the next depending on where the cycle sits. Right now the numbers suggest it's near a strong point of that cycle. The one thing worth watching -> where that cycle turns next.
On our factor screen it looks strongest on growth and quality, and weakest on value.
- ✓Pays a dividend - about 0.1% a year
- ✓Growing - revenue up about 346% over the year
- ✓Very profitable - turns about 56% of sales into profit
- ✓Low debt - a sturdier balance sheet
- ✓Strong return on shareholder money (ROE 67%)
- Quality screens high (92/100)
- Growth screens high (99/100)
- Momentum screens high (72/100)
- very high current profitability and margins during this phase of the memory cycle
- low multiple on forward earnings estimates if the current earnings level is sustained
- memory pricing is volatile and has historically reverted sharply after peaks
- risk of industry-wide oversupply if manufacturers over-expand capacity
- concentrated customer base among PC, phone, and server makers
What do Micron Technology's numbers mean?
How much money does Micron Technology make?
Revenue and profit by quarter, and how much of each sale turns into profit.
Does Micron Technology pay a dividend?
Yes - Micron Technology currently pays a dividend of about 0.1% a year (the yearly payout as a share of the price). A dividend is a slice of profit handed to shareholders; the yield moves as the price moves, and a company can cut or stop it.
When does Micron Technology report earnings, and how did recent quarters go?
Micron Technology is next scheduled to report on about 2026-09-23 - dates can move, and we don't predict results; this just tells you when to look.
Each quarter a company reports its results against what analysts expected. ‘Beating’ or ‘missing’ is about that expectation, not whether the business is doing well in absolute terms.
| Reported | Expected EPS: The earnings per share analysts expected for the quarter - the average of their forecasts. 'Beating' or 'missing' is measured against this number. | Actual EPS | vs expected |
|---|---|---|---|
| 2026-06-24 | $20.71 | $25.11 | Beat +21% |
| 2026-03-18 | $9.16 | $12.20 | Beat +33% |
| 2025-12-17 | $3.96 | $4.78 | Beat +21% |
| 2025-09-23 | $2.86 | $3.03 | Beat +6% |
| 2025-06-25 | $1.59 | $1.91 | Beat +20% |
| 2025-03-20 | $1.42 | $1.56 | Beat +9% |
Across the last 6 quarters here, Micron Technology came in ahead of what analysts expected 6 times. One quarter is noise, not a trend.
See who else reports over the next two weeks →
Reported vs expected earnings per share (EPS) from published results; the expectation is the analyst consensus, not our view. Report dates are estimates that can move.
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NetApp, Inc.What are the scenarios for Micron Technology?
An illustrative range for the year ahead, with the assumption behind each case — not a prediction or a price target.
What are the pros and cons of Micron Technology?
How many points the write-up makes each way — a balance check, not a score or verdict.
- very high current profitability and margins during this phase of the memory cycle
- low multiple on forward earnings estimates if the current earnings level is sustained
- direct exposure to growing AI and data-centre memory demand
- extremely cyclical business with a history of sharp swings in both directions
- minimal dividend, so returns depend heavily on the cycle and share price
- the reported momentum figure looks unusually extreme and may not be a reliable guide
- memory pricing is volatile and has historically reverted sharply after peaks
- risk of industry-wide oversupply if manufacturers over-expand capacity
- concentrated customer base among PC, phone, and server makers
- global semiconductor supply chains carry trade and geopolitical exposure
The write-up's own warning lights — if these start happening, the case above changes.
- memory spot pricing turning down for several consecutive months
- forward P/E rising sharply as earnings estimates get cut
- industry data showing large new memory production capacity coming online
- reports of rising inventory levels at major customers
Built from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →