Micron Technology, Inc. (MU) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Micron Technology (MU) by buying shares or fractional shares at any major broker, through an ETF that holds it (such as SMH or SOXX), or as one holding in a thematic basket. MU is a deeply cyclical memory semiconductor stock, not a steady compounder: it is the world's third-largest DRAM and NAND maker behind Samsung and SK Hynix, and the only major US-based one. High-bandwidth memory (HBM) for AI accelerators is the current margin driver, alongside DDR5 server DRAM, NAND recovery, and CHIPS Act fabs.
MU stock price
As of 2026-07-31, Micron Technology, Inc. (MU) last closed at $823.03, up 684.7% over the past year. Over the past 52 weeks it has traded between $104.88 and $1,213.56.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Micron Technology, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Micron Technology, Inc. (MU) do?
Micron Technology is the third-largest memory semiconductor company in the world, after Samsung and SK Hynix. The company manufactures two main types of memory: DRAM (dynamic random-access memory used in computers, servers, and AI accelerators) and NAND (flash memory for storage). Micron is the only US-headquartered memory semiconductor manufacturer at scale, which has made it a strategic asset for US chip policy.
The AI infrastructure buildout has dramatically increased demand for high-bandwidth memory (HBM), a specialty form of DRAM stacked alongside AI GPUs. Each NVIDIA H100 or Blackwell GPU requires substantial HBM. SK Hynix and Samsung dominate HBM today, but Micron has been aggressively ramping HBM3E and HBM4 capacity through 2025 and 2026. Founded in 1978, headquartered in Boise, Idaho. Sanjay Mehrotra has been CEO since 2017.
What's driving Micron Technology, Inc. (MU)?
1. HBM as the AI-driven growth driver.
High-bandwidth memory (HBM) is the fastest-growing segment of the memory market because every AI accelerator requires it. Micron is the third HBM supplier after SK Hynix and Samsung and is ramping HBM3E and HBM4 capacity. HBM carries materially higher margins than commodity DRAM.
2. Data center DRAM strength.
AI servers also drive demand for traditional DDR5 server DRAM (not just HBM). This is a broader, more durable revenue base than HBM alone.
3. NAND recovery.
NAND flash memory has been in a cyclical trough for several years; pricing is recovering as supply discipline returns. Micron's NAND business is less differentiated but cyclically positioned.
4. Strategic US positioning.
Micron is the only major US-based memory manufacturer. The CHIPS Act has provided meaningful subsidies for new fab construction in New York and Idaho. This positions Micron favorably in any future supply chain reshoring.
What are the risks to Micron Technology, Inc. (MU)?
Memory is cyclical. The current AI-driven upcycle will eventually correct, and Micron's earnings can swing dramatically between peak and trough years. Competition from SK Hynix and Samsung is intense; HBM share is hard-won.
What is the Micron Technology, Inc. (MU) forecast?
42 analysts publish price targets on MU, averaging $1507.38 against a $783.12 price as of July 2026, or +92.5%. The published targets run from $361.00 to $2200.00, a wide spread, and the ratings split 40 buy, 5 hold, 0 sell. Over the last six months there have been 12 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.
Read the full MU forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.
Is MU a buy or a sell?
We give no verdict on Micron Technology, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. HBM as the AI-driven growth driver. High-bandwidth memory (HBM) is the fastest-growing segment of the memory market because every AI accelerator requires it. The most optimistic published target, $2200.00, assumes this works close to its best case.
The case against. Memory is cyclical. The most pessimistic target, $361.00, is roughly what MU is worth if this bites instead.
Read the full bull and bear case on MU, including what would have to change to break either one. Walnut is not an investment adviser.
How is Micron Technology, Inc. (MU) valued? (approximate, early 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Micron Technology, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$35 billion (after recovering from 2023 cyclical trough)
- Operating margin: ~30% (cyclical; trough years can be negative)
- Net income (TTM): ~$8 billion
- EPS (TTM): ~$7.20
- P/E (TTM): ~20x
- Price to sales: ~5x
- Dividend yield: ~0.4%
- Free cash flow: ~$5 billion annually (capex-heavy)
- HBM revenue: Growing rapidly as a share of mix
Memory companies trade at lower trailing P/E multiples than logic semiconductor companies because of their cyclical earnings. Micron's valuation reflects a position partway through a cyclical upcycle; trough-year P/E would look very different.
Which ETFs hold Micron Technology, Inc. (MU)?
If you want MU exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.
| ETF | Name | % in MU | Expense ratio | |
|---|---|---|---|---|
| IGM | iShares Expanded Tech Sector ETF | 5.5% | 0.39% | |
| MTUM | iShares MSCI USA Momentum Factor ETF | 7.19% | 0.15% | |
| QLD | ProShares Ultra QQQ | 3.64% | 0.95% | |
| VLUE | iShares MSCI USA Value Factor ETF | 24.47% | 0.15% | |
| VOOG | Vanguard S&P 500 Growth ETF | 3.04% | 0.07% | |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | 3.6% | 0.04% | |
| RSP | Invesco S&P 500 Equal Weight ETF | 0.44% | 0.20% | |
| SCHX | Schwab U.S. Large-Cap ETF | 1.60% | 0.03% | |
| JEPQ | JPMorgan Nasdaq Equity Premium Income ETF | 4.83% | 0.35% | |
| VOO | Vanguard S&P 500 ETF | ~1.7% | 0.03% | |
| SMH | VanEck Semiconductor ETF | ~4.3% | 0.35% | |
| SOXX | iShares Semiconductor ETF | ~4.5% | 0.35% | |
| FTEC | Fidelity MSCI Information Technology Index ETF | 5.5% | 0.08% | |
| TECL | Direxion Daily Technology Bull 3X Shares | Approximately 5.1% | Approximately 0.94% | |
| IWF | iShares Russell 1000 Growth ETF | ~3.3% | 0.18% | |
| BBUS | JPMorgan BetaBuilders U.S. Equity ETF | ~2.0% | 0.02% | |
| CHPX | Global X AI Semiconductor & Quantum ETF | ~12.5% | 0.50% | |
| QTUM | Defiance Quantum ETF | ~3.1% | 0.40% | |
| SCHV | Schwab U.S. Large-Cap Value ETF | ~3.5% | 0.04% | |
| XSD | SPDR S&P Semiconductor ETF | ~2.55% | 0.35% |
What themes does Micron Technology, Inc. (MU) fit?
These are the investment theses MU naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.
Who competes with Micron Technology, Inc. (MU)?
Memory semiconductors
Samsung Electronics and SK Hynix are the two larger memory manufacturers; together with Micron they control approximately 95% of the global DRAM market. The three are direct, sustained competitors across DRAM, HBM, and NAND. NAND has additional competition from Kioxia (formerly Toshiba Memory) and Western Digital.
HBM (high-bandwidth memory)
SK Hynix has been the leader in HBM3 and HBM3E shipping volume; Samsung is the closest competitor; Micron is the credible third supplier and is ramping. The three-way race is unusually competitive given AI demand.
What stocks are similar to Micron Technology, Inc. (MU)?
Other names that sit close to MU: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in Micron Technology, Inc. (MU)
There are three common ways to get MU exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (IGM, MTUM, QLD), which spreads the position across many companies. Or build it into a focused thematic portfolio, so MU sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where MU fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Micron Technology, Inc. (MU)
Micron (MU) is a memory-cycle play whose earnings swing dramatically between peak and trough, currently lifted by AI-driven HBM demand that carries far higher margins than commodity DRAM. In a portfolio it behaves as a higher-volatility, capex-heavy semiconductor holding levered to the AI memory upcycle, often paired with NVDA and Broadcom, with a small dividend and a multiple that looks low precisely because the cycle can reverse.
More on Micron Technology, Inc. (MU)
Whether MU is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is MU a buy or a sell?, and where the stock could go from here in the MU stock forecast.
For income investors, whether MU pays a dividend and how the payout looks is covered in does MU pay a dividend? And to weigh MU against a peer, read the full side-by-side comparisons: MU vs NVDA and MU vs AMD.
Wondering how MU fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Micron Technology, Inc. with AI
Connect the broker you already use and ask Walnut's AI how MU fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is Micron's ticker symbol?
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MU, listed on Nasdaq. Officially Micron Technology, Inc. Founded 1978, headquartered in Boise, Idaho. The only major US-based memory semiconductor manufacturer.
Who are Micron's competitors?
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In memory semiconductors, Samsung Electronics and SK Hynix are the two larger competitors. The three control approximately 95% of the global DRAM market and are direct competitors in HBM, DDR5 server DRAM, and consumer-grade DRAM. NAND flash has additional competition from Kioxia and Western Digital.
Why does AI matter for Micron?
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Every AI accelerator (NVIDIA H100, Blackwell, AMD MI300X, etc.) requires substantial high-bandwidth memory (HBM) alongside the GPU. HBM is a specialty form of DRAM that Micron, Samsung, and SK Hynix supply. HBM pricing is materially higher than commodity DRAM, so AI-driven HBM demand is a major margin expansion driver for Micron.
What is Micron's P/E ratio?
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Approximately 20x trailing twelve months as of early 2026, after several years of cyclical earnings volatility. Memory companies trade at lower trailing multiples than logic semiconductor companies because earnings swing dramatically between cyclical peaks and troughs.
What does Micron do?
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Micron manufactures memory semiconductors: DRAM (including AI-critical HBM), DDR5 server DRAM, and NAND flash storage. It is the third-largest memory semiconductor company in the world after Samsung and SK Hynix, and the only major US-headquartered memory manufacturer.
Who owns the most Micron stock?
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Major institutional holders include Vanguard (~10%), BlackRock (~7%), and State Street (~4%). Insider ownership is low. The CHIPS Act provided meaningful US government subsidies for new fab construction but no direct equity stake.
Is Micron an AI stock?
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Yes. HBM3 and HBM3e high-bandwidth memory is essential to every AI accelerator currently shipping. Micron's HBM revenue has grown several multiples since 2023 on AI server demand. The AI cycle has been particularly powerful for Micron because HBM commands much higher margins than commodity DRAM, expanding profitability beyond traditional memory cycles.
Which ETFs have the most Micron exposure?
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SMH (VanEck Semiconductor) holds MU at ~4.3%. SOXX (iShares Semiconductor) holds MU at ~4.5%. QQQ holds MU at smaller weight as part of the broader Nasdaq-100. VGT and XLK include MU as part of the broader tech sector. Memory-specialty ETFs don't exist; Micron is captured through broader semiconductor and tech ETFs.
Which thematic baskets typically include Micron?
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Two themes on Walnut. AI infrastructure (HBM memory is essential to AI accelerators; AI server DRAM is a structural growth driver) and Semiconductors (one of three major global memory manufacturers). AI infrastructure baskets typically include MU as the memory complement to NVDA and AVGO.
How much of SMH is Micron?
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Approximately 4.3% as of early 2026. MU is typically the seventh or eighth-largest SMH holding. In SOXX (slightly broader weighting), MU is at ~4.5%. Memory's cyclical nature has historically meant MU's weight in semiconductor ETFs has fluctuated more than logic-design names.
Is Micron in the S&P 500?
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Yes. Micron has been an S&P 500 constituent for many years. It is typically a mid-tier S&P 500 holding by market cap, in the top 100 but not in the top 25.
What is Micron's market cap?
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Approximately $120 billion as of early 2026. Market cap has grown substantially from the 2022 cyclical lows on AI HBM demand. Micron remains smaller than Samsung Electronics and SK Hynix by market cap because of those companies' diversified business mixes.
Does Micron pay a dividend?
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Yes, since 2021. Yield is approximately 0.4% as of early 2026, paid quarterly. The dividend is small as a percentage of share price but represents a meaningful capital return decision after years of dividend-free history. Micron also conducts share buybacks but capex demands during the AI cycle have limited buyback pace.
Should I own Micron directly or through SMH?
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Both common. Direct MU ownership gives concentrated HBM and AI memory exposure with full cyclical upside. SMH includes MU at ~4.3% along with broader semiconductor exposure. Many Walnut users hold both: direct MU for AI memory conviction plus SMH for diversified semi cycle. Memory's cyclical nature means MU has higher volatility than logic-design semiconductor peers.
Guides that feature MU
MU is one of the names covered in these guides. Each one puts the stock next to its peers so you can see where it fits rather than judging it alone.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Micron Technology, Inc.'s investor relations page or your broker before making investment decisions.