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MICRON TECHNOLOGY INCEvidence as of 2026-09-16The desk's Snapshot
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Overview · MICRON TECHNOLOGY INC
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide…
Management team
- Mr. Sanjay Mehrotra · CEO, President & ChairmanFind on LinkedIn
- Mr. Satya Kumar · Corporate VP of Investor Relations & TreasurerFind on LinkedIn
- Mr. Sumit Sadana · Executive VP & Chief Business OfficerFind on LinkedIn
- Dr. Scott J. DeBoer Ph.D. · Executive VP and Chief Technology & Products OfficerFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.3 on a −2 to +2 scale (was −0.2 before the debate changed the read).
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The surviving record is mixed (evidence balance = Mixed, -0.3 of a possible +2; confidence high). Revenue stepped up quarter‑over‑quarter from $ 13,643,000,000 in Q1 2026 (fiscal quarter ended 2025-12-10) to $ 23,860,000,000 in Q2 2026 (fiscal quarter ended 2026-03-11) and to $ 41,456,000,000 in Q3 2026 (fiscal quarter ended 2026-06-17). Gross profit and operating income expanded on the same cadence — gross profit to $ 35,056,000,000 in Q3 2026 (implying an ~84.6% gross margin) and operating income to $ 33,318,000,000 in Q3 2026 (implying ~80.4% operating margin) — while diluted EPS moved from $ 4.60 in Q1 2026 to $ 24.67 in Q3 2026.
The balance sheet and ownership signals are mixed: cash and equivalents rose to $ 24,995,000,000 as of 2026-05-28 and stockholders’ equity to $ 100,724,000,000 as of that date, long-term debt declined between the 10‑K and 10‑Q reported dates, but trailing twelve‑month free cash flow is only $ 1,159,000,000 versus market cap of $ 1,047,625,086,868 (price/FCF = 916.4). Market metrics show constructive price trend signals and very strong momentum readings as of 2026-09-15, alongside elevated volatility and a history of material drawdowns.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue rose quarter-over-quarter from $13,643,000,000 in fiscal Q1 2026 (2025-08-29 to 2025-11-27, 3mo) to $23,860,000,000 in fiscal Q2 2026 (2025-11-28 to 2026-02-26, 3mo) and to $41,456,000,000 in fiscal Q3 2026 (2026-02-27 to 2026-05-28, 3mo).
XBRL companyfacts · 0000723125-25-000046Gross profit expanded from $7,646,000,000 in fiscal Q1 2026 to $17,755,000,000 in fiscal Q2 2026 and to $35,056,000,000 in fiscal Q3 2026, implying gross margin increased from ~56.0% (7,646 / 13,643) in Q1 to ~74.4% (17,755 / 23,860) in Q2 and ~84.6% (35,056 / 41,456) in Q3.
XBRL companyfacts · 0000723125-25-000046Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 2025 Annual Report on Form 10-K (filed 3 October 2025) added risk-language highlighting supply and operational vulnerabilities, including "availability and quality of materials, supplies, electrical power, gas, water, and capital equipment, or dependency on third-party service providers," regional cost differences when transitioning manufacture across the global network, and higher costs of goods and services from inflationary pressures, tariffs, or increased input costs.
10-K filed 2025-10-03The 2025 Form 10-K (filed 3 October 2025) added risk discussion emphasizing concentration of DRAM production in Taiwan and stated that "A majority of our DRAM production output in 2025 was from our fabrication facilities in Taiwan," noting political, economic, or other actions in Taiwan could materially affect operations.
10-K filed 2025-10-03Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Momentum signals on 2026-09-15 show very strong intermediate and long-run upside: momentum_6m = +110.1% (97th percentile of 559) and momentum_12_1 = +683.2% (100th percentile of 559).
Moneyta signal set · 2026-09-15weakened in debatePrice trend indicators are constructive on 2026-09-15: golden_cross = true, price_vs_sma50 = +0.1%, and price_vs_sma200 = +47.5%.
Moneyta signal set · 2026-09-15Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-08-10, the ETF SMH held 4.27% of its fund in the stock.
ETF constituents · market dataAs of 2026-09-10, the ETF IVV held 2.02% of its fund in the stock.
ETF constituents · market dataReads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Coverage includes a headline about Micron unveiling a 512GB DDR5 memory module on 15 September 2026.
News · gurufocus.com · 2026-09-15Several outlets ran headlines on 15 September 2026 about Micron appointing Deirdre Hanford to lead Micron Research Labs.
News · finance.yahoo.com · 2026-09-15Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Total insider sales reported in the 180-day window equal "$229.8M".
Form 4 · MEHROTRA SANJAY (President and CEO) · $138k sold · 2026-08-21There were no insider open-market purchases reported in the 180-day window ("bought": "$0", "distinct_buyers": 0).
Form 4 · MEHROTRA SANJAY (President and CEO) · $138k sold · 2026-08-21Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The price-to-free-cash-flow (price/FCF) ratio is 916.4, implying the current price is 916.4 times trailing twelve-month free cash flow.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve-month free cash flow (FCF) is $1,159,000,000 while market capitalization is $1,047,625,086,868, so trailing FCF is small in absolute terms relative to market value.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
The claim set jointly supports a favorable operational read: three consecutive quarters of sharply rising revenue, gross profit, and operating income (fundamentals-0, fundamentals-1, fundamentals-2) coincide with large increases in cash and shareholders’ equity (fundamentals-5) and a reduction in reported long-term debt (fundamentals-4). These items help explain the divergence between accounting profitability and reported free cash flow (valuation-2), which weakens the force of headline FCF-based ratios (valuation-0, valuation-1, valuation-5) as sole indicators of financial health. Market breadth and technical momentum are strong (market-0, market-1) while ETF holdings signal institutional placement in relevant funds (ownership-0, ownership-1). Filing disclosures referencing CHIPS Act funding (filings-2) provide a financing context that aligns with rising cash balances. Together, the operational and balance-sheet improvements form a coherent bull case that contests valuation-only criticisms and frames elevated valuation ratios as partly reflecting timing and cash-flow conversion dynamics.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.35
35 surviving claims rest on 14 distinct sources; the heaviest analyst carries 17% of them, and 99% of what the desk raised survived the debate.
The surviving set rests on a modestly diverse base of 14 sources, but a single analyst carries an outsized share of the claims and almost all raised points survived internal debate. That combination — high internal agreement but concentrated contribution — means the read is relatively coherent but fragile to a few key inputs or a reweighting by the dominant analyst; filings-backed claims (10-K/10-Q) are more robust than signals derived from computed market or valuation overlays.
Peer context · computed, not argued
12-1 momentum ranks 1st of 19 in Semiconductors (as of 2026-09-15).
90-day volatility ranks 5th of 19 in Semiconductors (as of 2026-09-15).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
9 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+1.2 to the score
12 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.4 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.3 to the score
2 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.8 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 filing
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.8 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.