RESEARCH REPORT
Micron Technology, Inc.
MU
$884.74
As of 2026-10-31
Research note — 2026-10-31. Educational analysis, not financial advice.
The one-line version
Micron Technology, Inc. trades near $884.74 on a trailing multiple of about 11.9x versus its own 5-year median near 3.8x, 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) | ~11.9 | ~3.8 | +210% |
| P/E (forward) | ~4.3 | — | — |
| EPS (TTM) | 74.33 | — | — |
| Gross margin | 80.7% | — | — |
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: $285.20 — Applies the 5-year median multiple (3.8x) to trailing EPS.
- Street mean target: $1,561.91 — Average published analyst target.
- Street target midpoint: $1,680.50 — Midpoint of $361.00–$3,000.00 published range.
Street targets run from $361.00 to $3,000.00. A wide spread means the name is contested, not consensus.
2. What the bulls are counting on
- Elon Musk Has Incredible News for Micron Stock market participants
- OpenAI’s CEO Thinks Your Laptop’s Memory Should Be in a Data Center
- Prediction: 2 Under $1 Trillion Stocks That Will Be Worth More Than Micron 5 Years From Now
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Bull case, bear case, assumptions, and what to watch next.
3. What the bears see
- Strong Growth Momentum and Rising Revisions Fuel Bright Earnings Outlook
- The selloff in tech stocks is shifting into overdrive
- Tech Selloff Wipes Out $1 Trillion In Value
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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 ~11.9x rather than its 5-year ~3.8x, 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 2026-10-31 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
Nov 4, 2026|Apple’s Pain Could Be Micron’s Gain as Memory Prices Surge(Yahoo)
Memory prices are climbing fast, and that single cost is splitting two tech giants onto opposite sides of a trade. One company's suffering feeds the other's record margins, and the gap between them keeps widening.
Nov 4, 2026|Micron Leads Three AI Memory Stocks With Major Upside Potential(Yahoo)
AMD reported 45% revenue growth, while Supermicro nearly quadrupled quarterly sales.
Nov 4, 2026|Got $5,000? Buy These 2 Growth Stocks Powering the AI Memory Boom (Hint: Micron Isn't One of Them)(Yahoo)
Memory and storage giants SK Hynix and Sandisk both have massive upside potential.
Nov 4, 2026|Prediction: This Could Be the Best AI Stock You’re Not Talking About(Yahoo)
Chip designers dominate AI headlines, but one memory stock already has more than 75% of its future shipments locked in through customer contracts, and Wall Street analysts have barely noticed the discount hiding in plain sight.
Nov 4, 2026|SanDisk Retreats 9%, Micron and Western Digital Fall 7% as Election and Memory Price Worries Weigh(Yahoo)
Memory stocks are buckling under a convergence of election fallout and pricing pressure even as AI data-center demand stays strong, leaving SanDisk investors caught between record revenue and a deepening selloff.
News headlines are reported as-is. Verify important claims with original sources.
10. Insider Form 4 activity
| Date | Executive | Action | Shares | Value |
|---|---|---|---|---|
| Oct 16, 2026 | Deboer Scott J (Pres. & Chief Tech & Prod Offr) | Sell | 28,444 | $25.6M |
| Oct 16, 2026 | Deboer Scott J (Pres. & Chief Tech & Prod Offr) | Sell | 100 | $90,100 |
| Oct 16, 2026 | Deboer Scott J (Pres. & Chief Tech & Prod Offr) | Sell | 0.572 | $515.95 |
| Oct 13, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 21,233 | $0 |
| Oct 13, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 20,213 | $20.0M |
| Oct 13, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 14,080 | $13.9M |
| Oct 13, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 9,807 | $9.7M |
| Oct 13, 2026 | MEHROTRA SANJAY (President and CEO) | Sell | 82,721 | $0 |
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.