MICRON TECHNOLOGY INC

MU
Deep Research
Generated April 24, 2026
Recommendation
BUY
Quality
21/25
Horizon12 to 18 months

Core Thesis

Micron is currently experiencing an extraordinary financial and operational inflection point, transitioning from a cyclical memory supplier to an indispensable gatekeeper of AI compute [1][2]. Driven by an insatiable demand for High-Bandwidth Memory (HBM) to support hyperscaler data center buildouts, the company has entirely sold out its HBM capacity through calendar year 2026, generating unprecedented pricing power and structural margin expansion [1][2][3]. While the market debates the sustainability of these record-high margins, Micron's long-term, non-cancelable contracts and consolidated oligopoly position suggest a structurally elevated earnings floor [1][2].

Business

Opening Overview
Structurally strong

Micron Technology, Inc. is a global manufacturer of semiconductor memory and storage technologies, having transitioned from a cyclical producer of commodity DRAM and NAND flash to a critical enabler of global AI infrastructure [1][2]. The company's advanced High-Bandwidth Memory (HBM) products have become essential for modern AI graphics processing units, which are bottlenecked by memory bandwidth [1]. As the sole U.S.-based manufacturer of advanced memory, Micron holds a unique strategic position within a consolidated global triopoly [1][6]. Driven by the AI supercycle, the company has achieved unprecedented pricing power and structural margin expansion, with HBM capacity sold out through calendar year 2026 [1][2].

Industry Fit

Micron serves as an indispensable gatekeeper of AI compute, providing high-margin memory solutions that address the 'memory wall' in data center infrastructure [2]. Its products are integrated into the platforms of major hyperscale cloud providers and OEM partners, positioning the company as a strategic partner rather than a traditional commodity supplier [2][7].

Sources cited:[1][2][3][4][7][8]
Business Model
Complex

Micron generates revenue by designing and manufacturing memory and storage products, having transitioned from a cyclical commodity supplier to a critical enabler of AI infrastructure [1][2]. The company's business model is now bifurcated between legacy cyclical DRAM/NAND and high-margin, value-based High-Bandwidth Memory (HBM) that is essential for AI compute [1][2].

Revenue drivers

  • High-Bandwidth Memory (HBM) capacity sold out through 2026 [1][2]
  • Value-based pricing model for HBM products [2]
  • Structural margin expansion driven by AI infrastructure demand [2]
  • Long-term, non-cancelable contracts with hyperscale cloud providers [2]

Segments

  • Cloud Memory Business Unit (CMBU): The primary growth engine, focused exclusively on memory solutions for large hyperscale cloud customers and all HBM products for data centers [8].
  • Core Data Center Business Unit (CDBU): Manages enterprise solid-state drives (SSDs), standard DDR5, and component NAND for traditional enterprise servers [8].
  • Mobile and Client Business Unit (MCBU): Focused on LPDDR5, managed NAND, and client SSDs for the smartphone and PC markets, currently benefiting from the Edge AI and AI PC refresh cycles [8].
  • Automotive and Embedded Business Unit (AEBU): Serves the automotive, industrial, and consumer embedded markets, driven by the increasing memory requirements of software-defined vehicles and autonomous driving systems [7].

Geographic mix

Micron maintains a global manufacturing footprint with front-end wafer fabrication primarily in Taiwan, Japan, and the United States, and back-end assembly/test facilities in Singapore, Malaysia, and China [7].

Customer structure

The company operates primarily on a B2B model with revenue heavily concentrated among a handful of hyperscale cloud providers (Microsoft, Google, Amazon, Meta) and major OEM partners (Nvidia, AMD, Apple) [2].

Perception vs. reality

The market perceives Micron as a highly cyclical commodity producer, whereas the reality is a structural re-rating where HBM's manufacturing difficulty and capacity consumption create a higher earnings floor and software-like pricing power [2].

Hidden drivers

  • Disproportionate wafer capacity consumption by HBM tightening legacy supply [2]
  • Technological yield advantages in 1-gamma EUV lithography [7]
  • Power efficiency leadership in HBM3E products [11]
Sources cited:[1][2][3][4][7][8][9][11]
Business Structure

Segmentation

Micron reports across four modernized business units: Cloud Memory Business Unit (CMBU) for hyperscale cloud and HBM products [7]; Core Data Center Business Unit (CDBU) for enterprise SSDs, standard DDR5, and NAND [7]; Mobile and Client Business Unit (MCBU) for LPDDR5, managed NAND, and client SSDs [7]; and Automotive and Embedded Business Unit (AEBU) for automotive, industrial, and consumer embedded markets [6]. In Q2 2026, DRAM accounted for 79% of revenue and NAND for 21% [2].

Geographic exposure

Micron maintains a global manufacturing footprint with front-end wafer fabrication in Taiwan, Japan, and the United States, and back-end assembly/test facilities in Singapore, Malaysia, and China [6].

Competitive environment

Micron operates in a consolidated global oligopoly alongside SK Hynix and Samsung, which together control over 90% of the global DRAM market [1]. While SK Hynix is the dominant HBM leader, Micron has captured approximately 21% of the HBM market and targets 24% [1][4][5].

Supply chain

Micron is actively expanding its U.S. manufacturing footprint with new fabs in Idaho and New York, supported by CHIPS Act grants, to mitigate geopolitical risks associated with its reliance on Taiwan [6].

Distribution

The company operates primarily on a B2B model with revenue concentrated among hyperscale cloud providers and major OEM partners [2].

Strategic direction

Management is focused on maintaining technological leadership in HBM, with volume production of HBM4 slated for mid-2026 [4][5]. The company is shifting its narrative from a commodity manufacturer to a strategic AI partner, supported by long-term, non-cancelable contracts with hyperscalers [3].

Company-reported risks

  • Extreme cyclicality [6][8]
  • Intense capital requirements to transition to 1-gamma Extreme Ultraviolet (EUV) lithography [6][8]
  • Execution risk associated with scaling HBM production yields [6][8]
Sources cited:[1][2][3][4][5][6][7][8][9][10][11][12][13][14][15]
Industry & Demand
Growing
Net tailwinds

Secular trends

  • Explosion of generative artificial intelligence [1]
  • Hyperscaler data center infrastructure buildouts [1]
  • Transition to HBM4 memory technology [5]
  • Increasing memory requirements for software-defined vehicles and autonomous driving [13]
  • Edge AI and AI PC refresh cycles [12]

Cyclicality

The industry is experiencing a mix of traditional cyclicality in legacy memory and structural growth driven by AI-specific HBM demand .

Industry driving company

Micron is a critical enabler of global AI infrastructure, with its HBM products evolving from niche components into high-margin drivers of its financial performance [1].

Commentary

The industry is currently benefiting from an AI supercycle where HBM demand is projected to grow from $35 billion in 2025 to nearly $100 billion by 2028 . This demand is structurally constraining wafer capacity, which is lifting pricing across the entire memory portfolio [7].

Sources cited:[1][2][6][8][13][14]

Quality

Management Communication
Direct
High accountability
Consistent

Observed patterns

  • Execution-Oriented Messaging: Management has shifted from cautious cycle-management to highly confident, execution-oriented communication, emphasizing their role as a strategic partner in the AI era [1][2].
  • Transparency on Constraints: Management is exceptionally direct regarding pricing power and supply constraints, repeatedly confirming that HBM capacity is sold out through 2026 [1].
  • Ownership of Technological Progress: Management takes direct credit for closing the technological gap with competitors and surpassing Samsung in power efficiency, rather than shifting blame .

Tone insight

The Board's decision to increase the quarterly dividend by 30% acts as a non-verbal signal of management's high confidence in the durability of future cash flows .

Commentary

Management's communication effectively addresses analyst skepticism regarding margin sustainability by citing the structural difficulty of HBM manufacturing and the presence of long-term binding agreements with hyperscalers .

Sources cited:[1][2][3][4]
Debate Map

Misunderstood areas

  • Margin Sustainability
    Market view: The market assumes that current record gross margins of 81% are cyclical and will violently revert to the historical mean of 30-40% [2][3].
    Reality: The shift to HBM, which operates on a value-based pricing model rather than commodity pricing, combined with long-term non-cancelable contracts, suggests a structurally elevated earnings floor [2][3][4].

Bull case

HBM is a highly complex, customized platform rather than a commodity, with high barriers to entry due to capital intensity and technical difficulty in EUV lithography and 3D stacking, justifying a re-rating to a 15x-20x multiple [9][10].

Bear case

Hyperscalers are double-ordering to secure supply, and once initial AI training infrastructure is built, demand will plummet; furthermore, aggressive capacity expansion by competitors like Samsung could trigger a price war in 2027 [9].

Overlooked risks

  • Hyperscaler capex normalization leading to a potential demand drop-off in 2027 or 2028.
  • Industry-wide supply glut resulting from aggressive capacity expansion by competitors combined with Micron's own fab growth.
  • Macroeconomic deterioration suppressing demand in legacy PC, smartphone, and automotive markets.

Overlooked opportunities

  • The 'Edge AI' refresh cycle in smartphones and PCs requiring significant increases in local LPDDR memory.
  • Potential for a structural valuation re-rating toward a software/platform-like multiple if the market accepts the durability of HBM-driven margins.

Potential mispricing

The stock trades at a compressed forward P/E of 8x-12x because the market refuses to believe the current margin profile is sustainable, ignoring the structural shift in the memory landscape [9][10].

Sources cited:[1][2][3][4][5][6][10][11]
Investor Implications
Bullish

Overall institutional sentiment is highly bullish but remains cautious due to cyclical concerns. While analysts have significantly raised price targets following a historic Q2 2026 earnings beat , a minority of investors remain concerned about potential demand deceleration in hyperscaler AI spending [1].

Debates

  • The "New Normal" vs. "Peak Cycle" Debate
    Bull case: HBM has fundamentally altered the memory industry, as it consumes 3x to 4x the wafer capacity of standard DRAM, which permanently restricts commodity supply and creates a structurally higher floor for margins [1].
    Bear case: Memory remains a cyclical commodity; once the initial AI infrastructure buildout concludes, hyperscalers may optimize workloads, leading to a demand drop and a flood of oversupply from new fabs by 2028 [1].
  • The Samsung Threat
    Bull case: Micron's 1-gamma node and HBM3E power efficiency demonstrate that it has successfully closed the technological gap, making it difficult for Samsung to reclaim lost market share .
    Bear case: Samsung possesses significant capital resources and will likely resolve its yield issues, potentially weaponizing its scale to trigger a price war and force Micron into lower-margin segments .
  • Edge AI Adoption
    Bull case: The next growth phase will be driven by consumer devices, as AI-enabled PCs and smartphones require 50% to 100% more DRAM per unit, which will catalyze the MCBU segment as data center demand stabilizes [12].
    Bear case: Consumers may be fatigued by hardware upgrade cycles and unwilling to pay premiums for "AI PCs," which could leave Micron overly dependent on a small group of cloud providers [12].

Notable analyst views

  • Analysts have aggressively raised price targets following the historic Q2 2026 earnings beat.
  • A vocal minority of macro-focused investors remain concerned about the risk of a "falling knife" scenario if hyperscaler AI spending decelerates.
Sources cited:[1][2][3][13]
Competitive Position
High barriers
Durable moat

Market position

Micron is a leading global manufacturer of semiconductor memory and storage, currently operating within a consolidated triopoly [1]. It has successfully leapfrogged Samsung in technological execution for HBM, capturing approximately 21% market share in mid-2025 with a target of 24% [5][6]. As the only U.S.-based memory manufacturer, it holds unique strategic importance [7].

Competitive landscape

The industry is a highly consolidated oligopoly dominated by Micron, SK Hynix, and Samsung, which together control over 90% of the global DRAM market [1]. While SK Hynix remains the HBM market leader with over 50% share, Micron has differentiated itself with HBM3E products that offer a 30% power efficiency advantage [1][11]. Rivalry is fierce, driven by national pride and massive financial stakes [1].

Moat sources

  • High capital intensity with leading-edge EUV fabs costing over $15-$20 billion [1].
  • Deep intellectual property and technical know-how in 3D stacking and TSV integration [1].
  • Strategic geopolitical advantage as the sole U.S.-based memory manufacturer [7].
  • Long-term, non-cancelable supply agreements with hyperscalers [1][2].

Porter's 5 forces

  • Rivalry: High; despite being a consolidated oligopoly, the competition between the three major players is intense due to massive financial stakes and national strategic interests [1].
  • New entrants: Very high barriers; the prohibitive capital requirements for leading-edge fabrication and complex intellectual property make new entry virtually impossible [1].
  • Substitutes: Low; there is currently no viable technological substitute for DRAM and HBM in high-performance computing environments [1].
  • Buyer power: Medium; historically high due to PC and mobile OEMs, but currently low in the HBM space as hyperscalers are desperate for supply and prioritize performance over cost [1].
  • Supplier power: Low to medium; while specialized equipment providers like ASML hold influence, memory manufacturers are their largest customers [1].
Sources cited:[1][2][5][6][7][8][11][12]
Management & Governance
Independent board
Strong governance

Key executives

  • Sanjay Mehrotra — President & CEO
    Tenure: Since 2017
    Track record: Former co-founder of SanDisk; credited with transforming Micron from a technological laggard into a node-transition leader [11].
  • Mark Murphy — CFO
    Tenure: Not specified
    Track record: Focused on disciplined capital allocation and driving record free cash flow generation [11].
  • Sumit Sadana — Chief Business Officer
    Tenure: Not specified
    Track record: Key architect of the hyperscaler relationships and the pivot toward value-based pricing [11].

Board structure

The Board is independent and recently underwent a refresh with the retirements of Richard Beyer and Mary McCarthy in early 2026 [11].

Major shareholders

  • Vanguard, BlackRock, State Street (Not specified): Dominated by large institutional asset managers [11].

Commentary

The Board's decision to increase the quarterly dividend by 30% in Q2 2026 serves as a tangible, highly visible signal of management's confidence in the durability of their cash flows [2][3].

Sources cited:[3][4][12]
Financial Highlights
Revenue
$23.86 billion for Q2 2026, up 75% sequentially and 196% YoY [3].
Gross margin
74.9% (Non-GAAP) in Q2 2026, up from 56% sequentially, with Q3 2026 guidance for further expansion to ~81% [2][3].
EBIT margin
69% operating margin in Q2 2026 [2].
FCF profile
$6.9 billion for Q2 2026, derived from $11.9 billion in operating cash flow minus $5 billion in CapEx [2][3].
Net debt / EBITDA
No reliable data found.
Revenue CAGR (3y)
Revenue accelerated from $15.5 billion in FY23 to $37.38 billion in FY25, with an annualized run-rate approaching $100 billion for FY26 [14][6].
EPS CAGR (3y)
No reliable data found.

Inflection points

  • Transition from cyclical memory supplier to AI compute gatekeeper [1][2].
  • HBM capacity sold out through 2026 [1][3].
  • Shift to value-based, software-like pricing model [3].
  • Structural margin expansion driven by HBM supply constraints [2][3].

Commentary

Management has shifted from cautious cycle-management to confident, execution-oriented messaging, highlighted by a 30% dividend increase in Q2 2026 [2][3].

Sources cited:[1][2][3][4][7][15]

Decision

Executive Summary

Micron is currently experiencing an extraordinary financial and operational inflection point, transitioning from a cyclical memory supplier to an indispensable gatekeeper of AI compute [1][2]. Driven by an insatiable demand for High-Bandwidth Memory (HBM) to support hyperscaler data center buildouts, the company has entirely sold out its HBM capacity through calendar year 2026, generating unprecedented pricing power and structural margin expansion [1][2][3]. While the market debates the sustainability of these record-high margins, Micron's long-term, non-cancelable contracts and consolidated oligopoly position suggest a structurally elevated earnings floor [1][2].

Upside Drivers

  • +Absolute Revenue Visibility: HBM capacity is fully sold out through the end of 2026 under binding contracts, locking in premium pricing and insulating the company from short-term macro shocks [1][3].
  • +Margin Expansion Defying History: Q3 2026 guidance of ~81% gross margins proves that the 'memory wall' in AI is driving value-based, software-like pricing rather than traditional commodity pricing [2][4].
  • +HBM4 Technological Leadership: Volume production of next-generation HBM4 is slated for mid-2026, which is expected to maintain Micron's power-efficiency advantage over Samsung and defend its targeted ~24% market share [5][6][1].
  • +Geopolitical Premium: As the only U.S. memory manufacturer, Micron is uniquely positioned to benefit from CHIPS Act funding ($6.4 billion) and Western hyperscalers seeking to de-risk their supply chains from East Asia [7].

Downside Drivers

  • −Hyperscaler Capex Air-Pocket: The eventual normalization of AI infrastructure spending by major cloud providers could lead to a sudden demand drop-off in 2027 or 2028.
  • −Oligopoly Supply Glut: Aggressive capacity expansion by SK Hynix and Samsung, combined with Micron's own fab expansions, could result in an industry-wide supply glut if AI compute demand plateaus.
  • −Legacy Market Weakness: While AI memory thrives, any macroeconomic deterioration could suppress demand in the traditional PC, smartphone, and automotive markets, which still consume vast quantities of standard DRAM and NAND.
Sources cited:[1][2][3][4][5][6][7][8]
25-Point Scorecard
21/25

This scorecard runs 25 underwriting checks grouped into Company (10), Product (6), and Environment (9). Each item is binary: 1 = met, 0 = not met. The total is the final score out of 25.

Learn more

Company

9/10
1
Development stage

Highly mature, hyper-profitable enterprise .

1
Unique know-how and intangibles

Leadership in 1-gamma EUV and TSV 3D stacking .

1
Geographic diversification

Global sales and manufacturing footprint [14].

0
Product diversification

Highly concentrated in memory and storage semiconductors [8].

1
R&D spending

Tens of billions committed to advanced node R&D .

1
Strong corporate brand

Viewed as a critical U.S. strategic asset [6].

1
Strong product brands

Crucial brand in consumer; HBM3E in enterprise .

1
Room for expansion

Massive TAM expansion in AI data centers .

1
New markets to enter

Edge AI, autonomous vehicle memory [12].

1
Future-oriented industry

Fundamental bottleneck solver for AI .

Product

4/6
1
Difficult to substitute

Only three companies in the world can produce it .

0
Easily scalable

Requires years and billions of dollars to build a single fab .

1
New applications possible

AI PCs, robotics, spatial computing [12].

1
Large and stable market share

Solidified triopoly; ~21-24% HBM share .

0
Network effects

Hardware components do not benefit from direct network effects.

1
Unique and innovative

Industry-leading power efficiency in HBM3E .

Environment

8/9
1
Low competition

Consolidated to only three major global players .

0
Quasi-monopoly conditions

Fierce oligopolistic rivalry with SK Hynix and Samsung .

1
High barriers to entry

Prohibitive capital and IP requirements .

1
High financial entry barrier

Leading-edge fabs cost $15B+ .

1
Competitive advantages

Only U.S.-based memory manufacturer [6].

1
Low price sensitivity

Hyperscalers currently prioritize performance/availability over cost .

1
Pricing power

HBM capacity sold out through 2026 .

1
Growing demand in category

AI supercycle driving unprecedented demand .

1
Loyal customers

Locked into long-term, non-cancelable hyperscaler contracts [3].

Strong company; many qualitative advantages.

Sources cited:[4][7][9][13][15]
Scenarios
Base Case
60%

Range: $400 - $540

  • •AI infrastructure buildouts continue at a measured pace through 2027 [1][2]
  • •HBM remains supply-constrained [1]
  • •Legacy DRAM pricing cools slightly [7]
Bull Case
25%

Range: $900 - $1,000+

  • •HBM TAM accelerates toward $100 billion by 2028
  • •Memory wall necessitates continuous HBM upgrades [4]
  • •Micron maintains 24% market share and 70%+ margins [5]
  • •Structural re-rating to a software/platform-like multiple
Bear Case
15%

Range: $150 - $200

  • •Hyperscaler AI capex experiences a hard landing in 2027
  • •Samsung aggressively dumps capacity to regain share
  • •Margins collapse back to 35%
Sources cited:[1][2][3][4][5][6][7][8][9][10][11][12][13][14][15]
Investment Playbook
BUY

Micron is undergoing a structural re-rating that the market is misinterpreting as a standard cyclical peak [1][2]. With HBM capacity entirely sold out through 2026 and Q3 2026 gross margins guided to ~81%, the company is generating unprecedented free cash flow [1][2][3]. The market's insistence on applying a compressed 8x-12x multiple to these earnings ignores the fact that HBM is fundamentally altering the memory landscape, constraining legacy supply and elevating the baseline profitability of the entire industry [1][10][14]. While cyclical risks remain in the legacy PC and mobile markets, the absolute revenue visibility provided by hyperscaler HBM contracts offers a massive margin of safety [1][3].

Time horizon: 12 to 18 months

By Investor Type

Growth Investors: Buy aggressively — Focus on the HBM TAM expansion and the potential for a multiple re-rating [10]. If the market accepts that Micron is an 'AI Platform' rather than a commodity producer, the stock has a clear path toward the $900-$1,000 bull-case range [10][14].
Value/GARP Investors: Accumulate on weakness — The compressed forward P/E provides a margin of safety [10]. Even if earnings normalize downward by 30% in 2027, the stock remains reasonably valued at current levels [14].
Dividend & Income Investors: Hold / Accumulate — While the absolute yield is low (~0.10%), the recent 30% dividend hike signals management's commitment to returning capital [3]. The massive FCF generation ($6.9B in Q2 alone) secures the payout and funds aggressive share buybacks [3].
Momentum/Swing Traders: Trade the earnings cycle — The stock is highly reactive to AI capex headlines [1]. Use the upcoming Q3 2026 earnings report in June as a primary catalyst, as confirmation of the 81% margin will likely trigger algorithmic buying [2][3].
Sources cited:[1][2][3][4][11][15]
Forward Catalysts
Mid-2026 — HBM4 Volume Production Ramp

Achieving high yields on HBM4 is critical for Micron to maintain its 24% market share against competitors [4][5].

June 2026 — Q3 2026 Earnings Release

The market will assess whether Micron hits its guided 81% gross margin, which would force upward revisions to long-term valuation models [2][3].

Late 2026 - 2027 — AI PC and Edge AI Refresh Cycle

Increased local LPDDR memory requirements for smartphones and PCs are expected to catalyze the MCBU segment and provide a second growth wave [7].

Sources cited:[1][2][3][4][5][6][7][8]
Risk Deep-Dive
Supply Chain & Geopolitical
high

Micron's legacy assembly and test operations in China remain vulnerable to potential retaliatory actions or escalating U.S. tariffs [6].

Earnings impact: MBU and legacy DRAM revenue
Mitigation: Executing a multi-year shift of manufacturing capacity to the U.S. and India [6].
Execution Risk
medium

The transition to HBM4 requires flawless execution in complex 3D stacking and packaging processes [6].

Earnings impact: CMBU revenue and AI market share
Mitigation: Samples have been shipped to customers with volume production on track for mid-2026 [5].
Financial & Cyclical
medium

The memory market has historically been prone to severe gluts following periods of over-earning [6].

Earnings impact: Corporate gross margins and EPS
Mitigation: Long-term, non-cancelable supply agreements with hyperscalers for HBM provide an unprecedented buffer [6].
Litigation and IP
low

Standard industry patent disputes exist within the memory sector [6].

Earnings impact: Minimal impact due to reliance on cross-licensing within the triopoly
Mitigation: Robust internal legal defense and R&D patent generation [6].
Sources cited:[6][7]
Sources
  1. tradingview.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  2. seekingalpha.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  3. quartr.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  4. micron.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  5. astutegroup.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  6. trendforce.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  7. tradingview.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  8. micron.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  9. sec.gov(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  10. marketwise.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  11. wedbush.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  12. sec.gov(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  13. mlq.ai(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  14. investing.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
  15. finviz.com(vertexaisearch.cloud.google.com)(accessed 2026-04-24)
Sources via Google Search
"Micron Technology" "Business Units" 10-K 2025 SEC "Micron Technology" segments CNBU MBU SBU EBU 2025 2026

Prices as of April 24, 2026 at 08:38 AM

Shared via Taufolio

Reports, ratings, and any buy/sell/hold markers are for informational purposes only and do not constitute investment advice. You are solely responsible for your investment decisions.