Micron Technology, Inc.

NasdaqGS:MU Stock Report

Market Cap: US$413.0b

Micron Technology Future Growth

Future criteria checks 6/6

Micron Technology is forecast to grow earnings and revenue by 24.3% and 23.4% per annum respectively. EPS is expected to grow by 31% per annum. Return on equity is forecast to be 48.3% in 3 years.

Key information

24.3%

Earnings growth rate

31.01%

EPS growth rate

Semiconductor earnings growth24.7%
Revenue growth rate23.4%
Future return on equity48.32%
Analyst coverage

Good

Last updated02 Apr 2026

Recent future growth updates

Recent updates

Micron: I Was Wrong, This Time Is Indeed Different (Rating Upgrade)

Apr 05

We Think That There Are Issues Underlying Micron Technology's (NASDAQ:MU) Earnings

Mar 26
We Think That There Are Issues Underlying Micron Technology's (NASDAQ:MU) Earnings

Analysts Just Made A Massive Upgrade To Their Micron Technology, Inc. (NASDAQ:MU) Forecasts

Mar 24
Analysts Just Made A Massive Upgrade To Their Micron Technology, Inc. (NASDAQ:MU) Forecasts

Position to be managed in the supercycle of memory but too expensive for long-term hold

Target Entry Point: Under $350 - ride 12 month supercycle (if you have appetite) Micron represents a cycle-aware position in the $200B+ global memory semiconductor market, entering the most profitable period in its 47-year history driven by AI-fueled demand for High Bandwidth Memory (HBM), data center DRAM, and enterprise SSDs. FY2026 is a confirmed supercycle: Q1 delivered $13.64B in record revenue (+57% YoY), Q2 is guided at $18.7B with 68% gross margins, and full-year consensus is ~$76B in revenue with ~$34 EPS. The core thesis — that AI structurally elevates memory from commodity component to strategic infrastructure — is validated by Micron's entire 2026 HBM supply being sold out under finalized contracts.

Micron (MU): The HBM3E Monopoly & The "Golden Era"

The 2026 narrative for Micron has shifted from "cyclical hardware" to a non-substitutable AI bottleneck. As of February 2026, Micron has officially sold out its entire HBM3e and HBM4 inventory for the year, granting the company unprecedented pricing power.

Micron Technology, Inc.'s (NASDAQ:MU) 28% Price Boost Is Out Of Tune With Revenues

Nov 07
Micron Technology, Inc.'s (NASDAQ:MU) 28% Price Boost Is Out Of Tune With Revenues

Optimistic Investors Push Micron Technology, Inc. (NASDAQ:MU) Shares Up 25% But Growth Is Lacking

Sep 13
Optimistic Investors Push Micron Technology, Inc. (NASDAQ:MU) Shares Up 25% But Growth Is Lacking

Micron: I'm Finally Bullish (Rating Upgrade)

Apr 28

Micron: A Buy Recommendation Despite Current Market Woes

Apr 21

Some Micron Technology, Inc. (NASDAQ:MU) Shareholders Look For Exit As Shares Take 27% Pounding

Apr 12
Some Micron Technology, Inc. (NASDAQ:MU) Shareholders Look For Exit As Shares Take 27% Pounding

Micron Stock: Buy Before The Supercycle

Apr 01

Micron Technology: HBM Ramp-Up May Pressure Margins, But Stock Remains A Buy

Mar 24

Micron Stock: Despite The Rating Downgrade, It's Still A Buy

Mar 18

Micron: The Only Semiconductor Giant Rallying YTD So Far

Mar 08

Micron: Large Upside And Strong Momentum

Feb 21

Micron: This Stock Won't Be This Cheap For Much Longer

Feb 14

Micron: I Keep Accumulating On The Dip

Feb 07

Earnings and Revenue Growth Forecasts

NasdaqGS:MU - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
8/31/2028154,23883,54367,39896,03021
8/31/2027166,083106,33470,815101,91138
8/31/2026108,68965,78037,72860,24434
2/26/202658,11924,11110,28130,653N/A
11/27/202542,31211,9094,65222,692N/A
8/28/202537,3788,5391,66817,525N/A
5/29/202533,8136,2251,88115,200N/A
2/27/202531,3234,67260613,073N/A
11/28/202429,0943,88255410,350N/A
8/29/202425,1117781218,507N/A
5/30/202421,371-1,539-1,3765,351N/A
2/29/202418,312-3,767-3,3092,893N/A
11/30/202316,181-6,872-5,0062,017N/A
8/31/202315,540-5,833-6,1171,559N/A
6/1/202318,173-2,911-4,7415,087N/A
3/2/202323,0631,611-1,9448,901N/A
12/1/202227,1566,18693512,186N/A
9/1/202230,7588,6873,11415,181N/A
6/2/202232,3899,9154,81915,288N/A
3/3/202231,1699,0244,86015,010N/A
12/2/202129,6197,3643,88214,439N/A
9/2/202127,7055,8612,43812,468N/A
6/3/202125,4874,12956010,855N/A
3/4/202123,5033,197-6629,318N/A
12/3/202022,0642,999-7568,262N/A
9/3/202021,4352,687838,306N/A
5/28/202020,2492,2602978,268N/A
2/27/202019,5992,2975268,956N/A
11/28/201920,6373,511N/A10,390N/A
8/29/201923,4066,313N/A13,189N/A
5/30/201926,97610,077N/A16,111N/A
2/28/201929,98513,060N/A17,661N/A
11/29/201831,50114,750N/A18,574N/A
8/30/201830,39114,135N/A17,400N/A
5/31/201828,08912,178N/A15,448N/A
3/1/201825,85810,002N/A13,594N/A
11/30/201723,1557,587N/A10,651N/A
8/31/201720,3225,089N/A8,153N/A
6/1/201717,4012,551N/A5,846N/A
3/2/201714,733689N/A3,828N/A
12/1/201613,019-302N/A3,186N/A
9/1/201612,399-276N/A3,168N/A
6/2/201612,782365N/A3,302N/A
3/3/201613,7371,071N/A4,248N/A
12/3/201514,9692,102N/A4,736N/A
9/3/201516,1922,899N/A5,208N/A
6/4/201516,8193,578N/A5,525N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MU's forecast earnings growth (24.3% per year) is above the savings rate (3.4%).

Earnings vs Market: MU's earnings (24.3% per year) are forecast to grow faster than the US market (15.5% per year).

High Growth Earnings: MU's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MU's revenue (23.4% per year) is forecast to grow faster than the US market (10.4% per year).

High Growth Revenue: MU's revenue (23.4% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MU's Return on Equity is forecast to be very high in 3 years time (48.3%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/05 14:42
End of Day Share Price 2026/04/02 00:00
Earnings2026/02/26
Annual Earnings2025/08/28

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Micron Technology, Inc. is covered by 71 analysts. 38 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Warren LauAletheia Analyst Network Limited
James FontanelliArete Research Services LLP
Nam Hyung KimArete Research Services LLP