RESEARCH REPORT
Micron Technology, Inc.
MU
$1,015.80
As of 2026-09-19
Research note — 2026-09-19. Educational analysis, not financial advice.
The one-line version
Micron Technology, Inc. trades near $1,015.80 on a trailing multiple of about 22.1x versus its own 5-year median near 6.2x, against contested Street targets and the usual concentration and execution risks. That's the tension. Everything below is the detail.
That's the tension. Everything below is the detail.
1. What you're paying
| Now | Its own 5-year median | Gap | |
|---|---|---|---|
| P/E (trailing) | ~22.1 | ~6.2 | +256% |
| P/E (forward) | ~6.5 | — | — |
| EPS (TTM) | 46.02 | — | — |
| Gross margin | 72.6% | — | — |
What that means in plain terms: the gap versus the company's own history is the growth or durability the market is already pricing. It is not automatically wrong — it is the bet.
Fair-value anchors on file:
- 5-year median P/E multiple: $285.25 — Applies the 5-year median multiple (6.2x) to trailing EPS.
- Street mean target: $1,513.11 — Average published analyst target.
- Street target midpoint: $1,280.50 — Midpoint of $361.00–$2,200.00 published range.
Street targets run from $361.00 to $2,200.00. A wide spread means the name is contested, not consensus.
2. What the bulls are counting on
- Nvidia, SK Hynix send strong signal to Micron market participants
- What Does Micron Technology (MU) Warning Of Shortages Through 2027 Mean?
- Q3 Earnings Season Preview: What Can market participants Expect?
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Bull case, bear case, assumptions, and what to watch next.
3. What the bears see
- Micron Turned $10,000 Into About $130,000 in 5 Years. Most of It Came in the Past 12 Months.
- Stock Market Today: Nasdaq, S&P Reverse Slightly Higher; Sandisk, Lumentum Lead This Tech Rally (Live Coverage)
- Micron Adds 1.3% as Intel Extends Memory Scarcity Into 2027
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Bull case, bear case, assumptions, and what to watch next.
4. What would have to be true
For the stock to justify ~22.1x rather than its 5-year ~6.2x, roughly all of the following need to neutral:
- Growth or margin durability shows up in the next several reports, not just in narrative.
- Key revenue concentrations survive competitive and regulatory pressure.
- Execution on the current product or services cycle stays on schedule.
- The Street target range compresses as results clarify the contested assumptions.
Ask yourself honestly: how many of those would you bet on individually? Multiply your answers together.
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Bull case, bear case, assumptions, and what to watch next.
5. What to watch next
- Next earnings date: 2026-12-15
- Trailing and forward multiples versus the company's own history
- Segment growth rates in the next 10-Q / earnings release
- Material Form 4 and 13F changes
- Whether the Street high-to-low target spread narrows or widens
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Bull case, bear case, assumptions, and what to watch next.
6. What this note does not do
It doesn't tell you to buy or sell. It won't, ever.
You have the valuation in context, the strongest version of both cases, and the specific assumptions the current price depends on. What you do with that depends on your time horizon, your existing exposure, your risk tolerance, and what else you could do with the money — none of which we know.
If you want someone to tell you what to do, you want a licensed financial adviser, and that is a genuinely reasonable thing to want.
Educational and informational purposes only. Not investment advice and not a recommendation to buy or sell any security. GetStockReport is not a registered investment adviser. Figures are as of 2026-09-19 and go stale quickly — verify against primary sources before acting. All investments carry risk including loss of principal. Past performance does not guarantee future results.
8. Analyst ratings & targets
No recent activity
Analyst opinions change frequently. Past upgrades do not predict future returns.
9. Important news
Sep 20, 2026|If a Stock Market Crash Is Coming, History Says This Is the Smartest Move You Can Make.(Yahoo)
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A new White House “AI tsar,” an AI Force, and a clear pledge to avoid rules that could slow artificial intelligence have pushed this theme from niche talking point to front-page story for anyone watching US tech. Policy tailwinds can reshape expectations quickly. This piece walks through three stocks from our US AI Hyperscalers & Semiconductor Leaders screener that appear most exposed to this shift and explains what that might mean for your watchlist. The three stocks below are just a starter...
Sep 20, 2026|Prediction: These 3 Stocks Will 10x in the Next 10 Years(Yahoo)
The market might seem bloated, but these stocks still have a long runway for growth.
Sep 19, 2026|Unpacking the Stock Market's Coiled Spring Set Up(Yahoo)
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News headlines are reported as-is. Verify important claims with original sources.
10. Insider Form 4 activity
| Date | Executive | Action | Shares | Value |
|---|---|---|---|---|
| Aug 21, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 144 | $138,116.16 |
| Aug 21, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 823 | $790,417.43 |
| Aug 21, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 1,586 | $1.5M |
| Aug 21, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 4,305 | $4.1M |
| Aug 21, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 4,227 | $4.1M |
| Aug 21, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 3,434 | $3.3M |
| Aug 21, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 2,930 | $2.8M |
| Aug 21, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 2,938 | $2.8M |
Form 4 filings are routine transactions. Scheduled sales (10b5-1 plans) are normal and not signals.
11. Institutional 13F holdings
| Fund | Shares | Position | Change |
|---|---|---|---|
| State Street | 50,075,870 | $57.8B | — |
| Vanguard Group | 95,530,415 | $27.3B | — |
| BlackRock | 59,863 | $7.9B | — |
| BlackRock Institutional Trust | 987,255 | $21.6M | — |
These are 45-day lagged filings (SEC requirement). Position changes happened in the past.
12. Earnings this week
No recent activity
Earnings dates are estimates and may shift. EPS estimates are consensus, not predictions.