Yes, VistaShares Artificial Intelligence Supercycle ETF (AIS) holds MU with 7.51% (as of 2026-11-06).

Yes, iShares Semiconductor ETF (SOXX) holds MU with 7.13% (as of 2026-11-06).

Yes, VanEck Semiconductor ETF (SMH) holds MU with 4.75% (as of 2026-11-06).

Yes, Vanguard Value ETF (VTV) holds MU with 4.56% (as of 2026-11-06).

Yes, Vanguard Information Technology ETF (VGT) holds MU with 4.45% (as of 2026-11-06).

Micron Technology, Inc. (MU) is held by AIS (7.51%), SOXX (7.13%), SMH (4.75%), VTV (4.56%), VGT (4.45%), and 4 more.

What AI bubble is MU in?

Micron Technology, Inc. (MU) is mapped to the DRAM / HBM Memory bubble on QuantAbundance. Only US-listed pure-play DRAM/NAND/HBM producer.

What sector is MU in?

Micron Technology, Inc. is classified under GICS Information Technology (Semiconductors).

What is MU's last close price?

MU last closed at $690.00 on 2026-11-06.

NASDAQNext earningsDec 23AnalystsStrong Buy45+126%

Micron Technology, Inc. stock

Information Technology · Semiconductors

$690.00last close

$695.65+0.7%perp 24/7 · USD · funding +7% apr · trade ↗

+189.5%~252d

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$695.65+0.7%perp 24/7 · USD · funding +7% apr · trade ↗

Price

+189.51% over 1Y

3 curated levels

Thesis

as of 2026-11-08

Bull case

The only US-listed pure-play DRAM, HBM and NAND producer, now at a scale memory has never seen:

The FQ4-26 print (2026-09-30): revenue $54.23B in one quarter (vs $11.32B a year earlier), $3.2B above the top of its own $50B +/- $1B guide; non-GAAP gross margin 87.0%, EPS $33.42 vs $31 guided. FY26 revenue $133.19B vs $37.38B in FY25.
The guide keeps climbing: FQ1-27 revenue $61.5B +/- $1.5B, gross margin ~86%, EPS $38.15 +/- $1.00, another ~13% step from a record base. Core Data Center went from $11.5B to $18.0B in one quarter at a 90% gross margin.
The strategic customer agreements show up in cash: customers paid $12.7B of deposits in FY26 for future supply; noncurrent customer contract liabilities rose from $568M in May to $12.9B in September.
Cash machine: adjusted free cash flow $33.2B in FQ4 alone ($62.3B for FY26); $73.5B of cash and investments against ~$5.2B of debt. The company intends to return excess cash after the 2026-12-09 CHIPS-agreement anniversary.
Cheap on its own numbers: at ~$1.2T the stock trades near 14x FY26 GAAP EPS and near 7x the guided EPS annualised (our arithmetic on a guide, not a forecast).

Bear case

Memory is a cycle: an 87% gross margin invites supply. Micron spent $27.4B of net capex in FY26 and every maker is adding capacity; China's CXMT is entering.
HBM share: Korean media put SK Hynix near 70% of HBM4 on NVIDIA's next platform.
Receivables: $36.2B, two thirds of a quarter's revenue, up ~$27B in a year.
The tape doubts it: the stock fell 39% in five weeks after its 2026-06-25 closing high ($1,213.56) and closed 2026-09-30 still 12% under it, before another beat and raise. A shrinking multiple on rising earnings is how the market prices a peak.

2026-03-18 - FQ2-26: revenue $23.86B (+196% y/y), non-GAAP GM 74.9%, EPS $12.20; first five-year strategic customer agreement signed; dividend raised 30%.
2026-05-26 - Crossed $1T of market value, the first memory pure-play to do so. UBS (Timothy Arcuri) raised its target from $535 to $1,625, projecting over $400B of cumulative free cash flow in 2027-2029 (third-party estimate, not company guidance).
2026-06-24 - FQ3-26: revenue $41.46B (+346% y/y), non-GAAP GM 84.9%, EPS $25.11; data-center revenue above $25B in the quarter; 16 strategic customer agreements signed; DRAM and NAND demand expected to exceed supply beyond calendar 2027.
2026-09-30 - FQ4-26: revenue $54.23B (guide $50B +/- $1B), non-GAAP GM 87.0%, EPS $33.42 (guide $31); FY26 revenue $133.19B, adjusted free cash flow $62.31B.
2026-09-30 - Business units FQ4-26: Cloud Memory $16.28B (83% GM), Core Data Center $18.00B (90%), Mobile and Client $13.11B (90%), Automotive and Embedded $6.82B (84%).
2026-09-30 - Customer deposits: $12.75B received in FY26 under the strategic customer agreements; noncurrent customer contract liabilities $12.90B.
2026-09-30 - FQ1-27 guide: revenue $61.5B +/- $1.5B, non-GAAP GM ~86.25%, EPS $38.15 +/- $1.00. Quarterly dividend $0.15.
2026-12-09 - CHIPS-agreement anniversary, after which Micron intends to return excess cash to shareholders over time.

customersNVIDIA · Hyperscalers (AMZN/MSFT/GOOG/META) · AMD

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Bubblescapital-flow co-movement

DRAM / HBM Memoryprimaryw 1.00

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Convictionin 7 watchlists

Top correlated252d co-movement

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Held by ETFs

AISVistaShares Artificial Intelligence Supercycle ETF
7.51%
SOXXiShares Semiconductor ETF
7.13%
SMHVanEck Semiconductor ETF
4.75%
VTVVanguard Value ETF
4.56%
VGTVanguard Information Technology ETF
4.45%
XLKTechnology Select Sector SPDR Fund
4.04%
IWFiShares Russell 1000 Growth ETF
3.12%
VOOVanguard S&P 500 ETF
1.83%
VTIVanguard Total Stock Market ETF
1.64%

Key levels

$750.00
Recent base · 2026-05-28
Recent base / 3-4 week consolidation floor before the $919 breakout. A hold on the first test keeps the base intact; below = parabola broken.
-8.0%
$850.00
Breakout retest · 2026-05-28
Breakout retest level. A hold here on a pullback confirms the breakout; a close below $810 says it failed. $1000 is the next level overhead.
-18.8%
$900.00
BB80 upper / dynamic support · 2026-05-28
BB80 upper (4H) acting as dynamic support; first floor on any pullback from $956 ATH. Lose this and the next level that matters is the $850 breakout retest.
-23.3%
$341.00
Key Fib level · 2026-04-25
Out of reach · reference only
+102.3%

Trading 8.0% below fib key.

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Facts

Exchange: NASDAQ
Currency: USD
Market cap: $780.68B
Last update: 2026-11-06

Revenue (TTM)$133.2B

P/E9.3×

P/S5.9×

Net margin63.8%

Frequently asked questions

Is MU in AIS?: Yes, VistaShares Artificial Intelligence Supercycle ETF (AIS) holds MU with 7.51% (as of 2026-11-06).
Is MU in SOXX?: Yes, iShares Semiconductor ETF (SOXX) holds MU with 7.13% (as of 2026-11-06).
Is MU in SMH?: Yes, VanEck Semiconductor ETF (SMH) holds MU with 4.75% (as of 2026-11-06).
Is MU in VTV?: Yes, Vanguard Value ETF (VTV) holds MU with 4.56% (as of 2026-11-06).
Is MU in VGT?: Yes, Vanguard Information Technology ETF (VGT) holds MU with 4.45% (as of 2026-11-06).
What ETFs hold MU?: Micron Technology, Inc. (MU) is held by AIS (7.51%), SOXX (7.13%), SMH (4.75%), VTV (4.56%), VGT (4.45%), and 4 more.
What AI bubble is MU in?: Micron Technology, Inc. (MU) is mapped to the DRAM / HBM Memory bubble on QuantAbundance. Only US-listed pure-play DRAM/NAND/HBM producer.
What sector is MU in?: Micron Technology, Inc. is classified under GICS Information Technology (Semiconductors).
What is MU's last close price?: MU last closed at $690.00 on 2026-11-06.