Added to YB: 2026-06-29
Pitch date: 2026-06-25
MU [neutral]
Micron Technology, Inc.
Author Info
No bio for this author
Company Info
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally.
Market Cap
$1.3T
Pitch Price
N/A
Price Target
1.5K
Dividend
0.05%
EV/EBITDA
18.35
P/E
25.55
EV/Sales
13.90
Sector
Semiconductors and Semiconductor Equipment
Category
turnaround
Micron Technology ($MU) Q3 2026 Announcement
MU (earnings): Q3 FY26 rev +74% QoQ/+346% YoY, almost all price-driven (DRAM bits +low-single%, NAND ASP +85%). GM 84.9% (vs 39% YoY), op margin 81%; record $18.3B FCF, net cash $24.4B, BBB+. 16 SCAs (take-or-pay, ~25-50% rev) protect GM not revenue—floor ~10% of run-rate, ~half spot price. Bears: cyclical peak, AR ballooned ~$20B, GM ceiling near, FY27 capex builds supply wall, stock +700%/yr. At 8-9x annualized EPS (~$124); fair value $1,240-1,488.
Read full article (18 min)