MU · AI Stock Analysis ReportsUS · NASDAQSemiconductors · DRAM, NAND, HBM memoryRequested

MicronMicron Technology, Inc. · MU

Memory chipmaker (DRAM, NAND, HBM) whose earnings have surged on AI server demand, but fears of a cycle peak and reports of TSMC entering memory are weighing on the stock.

View Summary

Q3 revenue rose 379% year over year at an 80.7% operating margin, yet the stock sits 41.6% below its June high as the market doubts earnings have peaked. After a 17.5% one-day drop on Nov 5, the stock rebounded 6.3% on Nov 9, and its 4.0x forward P/E is less than half the 10.3x peer median.

AI Opinion

BUY

As of 2026.11.10 issue

Price at Issue

$733.15

Nov 9, 2026 close · +6.3%

External Average Target Price

$1561.91

+113.0% · 45 analysts

External High Target Price

$3000.00

+309.2%

External Low Target Price

$361.00

−50.8%

Market cap

About $829.5B

Close (11/9)

$733.15

52-week range

$192.59–$1,255.00

P/E (TTM)

9.9x

Forward PER

4.0x

P/S

6.2x

Average price target

$1,561.91 (+113.0%)

Q4 2026 revenue guidance

$60B–$63B

Research team debate

On the key issue, the cycle-peak worry, Bull leads; valuation, cash and price targets also favor Bull, while the TSMC competition reports and the price trend favor Bear.

Manager’s VerdictBUYBull 5Bear 2Hold 0

The overall verdict is BUY. Results, valuation and cash favor Bull, while the price trend and TSMC competition risk favor Bear; the verdict reopens at the Dec 23 earnings, depending on whether gross margin holds above 86%.

Bull case — revenue +379%, 80.7% operating margin, $61.5B guidance midpoint, 4.0x forward P/E (PEG about 0.03) and $38.3B net cash are confirmed figures.
Bear case — the stock is 41.6% below its high and has not regained the 20-, 60- or 120-day averages, and the TSMC memory-entry reports remain unresolved.
No hold — the verdict could change at the Dec 23 earnings (Yahoo estimate) depending on whether gross margin stays near 86% and revenue within $60B–$63B, and on official TSMC and Micron comments.

1aDebate by Issue · 6

Issue 1Cycle-peak worry — does slowing revenue growth signal the top?Key ×2Bull ahead

Bull

Earnings have not rolled over. Q3 revenue was $54.2B, up 379% year over year and 30.8% on the prior quarter, at an 80.7% operating margin[S2]. The company guided next-quarter revenue to $61.5B ± $1.5B at about an 86% gross margin, called it the fiscal-year floor, and press reports cite 26 customer agreements including take-or-pay terms[S7].

Bear

Growth is already slowing. Quarter-over-quarter revenue growth drops from 30.8% to 13.4% at the guidance midpoint, less than half[S2][S7]. Capex rose 42% in one quarter to $11.1B and the company flagged about $25B for the first half[S2][S7]. Profit built on price spikes shrinks first when supply grows.

Bull Rebuttal

Even 13.4% is a quarterly growth rate, and $61.5B of guided revenue is a $246B annual pace. Capex of $11.1B is only 25% of $44.0B operating cash flow, so expansion is not eating the profit.

Manager

The question is whether slower growth marks the peak. Even at a lower growth rate, guidance lifts revenue to $61.5B and puts the margin floor near 86%, so there is no evidence yet of falling profit; the verdict is Bull. The next check is the Dec 23 earnings.[S2·S7]

Issue 2TSMC memory-entry reports — has the competitive threat really been postponed?Bear ahead

Bull

The threat is not real today. On Nov 10 TIKR reported that TSMC stays in logic ICs rather than memory and that Micron rose 5%, and Barron's said the big threat was pushed far out[S7]. The $733.15 close on Nov 9 is 11.7% above the Nov 5 low of $656.39, showing worries partly easing[S3].

Bear

It was delayed, not removed. The same day 24/7 Wall St. reported that TSMC wants to enter advanced memory production, and Barron's wording describes a deferral rather than a resolution[S7]. Even after the rebound the close is 41.6% below the $1,255 high, so the market still prices in the risk[S3].

Manager

The question is whether the TSMC threat is resolved. While a report says TSMC intends to enter memory and nothing is confirmed, the competition risk stays, so the verdict is Bear. It will be revisited if TSMC or Micron makes an official statement.[S3·S7]

Issue 3Valuation — is the 4.0x forward P/E a discount for peak earnings?Bull ahead

Bull

The price is very low relative to earnings growth. Forward P/E is 4.0x, under 40% of the 10.3x peer median, and TTM P/E of 9.9x is below the 26.6x median[S6]. Fiscal 2027 estimated EPS of $176.5 is 137% above fiscal 2026's $74.33, giving a PEG of about 0.03[S2].

Bear

A low multiple means the market does not expect the earnings to last. Memory follows a price cycle, so P/E looks lowest at peak earnings, and the same measure was 137.5x in August 2024[S2]. The drop from 12.9x in August 2026 to 4.0x came as the stock fell while estimated EPS surged[S2][S3].

Manager

The question is whether the low multiple reflects peak earnings. A PEG of 0.03 against 137% growth is very low even allowing for a peak discount, so the verdict is Bull. The Bear cycle argument bites when growth turns, but guided revenue is still rising.[S2·S3·S6]

Issue 4Price targets raised — is the $1,562 average realistic?Bull ahead

Bull

Analysts are raising earnings expectations. Of the 5 latest changes, DA Davidson lifted its target from $2,100 to $3,000 and Mizuho from $1,300 to $1,400, while the rest held at $1,650–$1,900[S4]. Of 49 ratings, 45 are Buy, 4 Hold and none Sell[S4].

Bear

The targets are already stale. The 5 latest changes are dated Oct 1–22, before the 17.5% plunge on Nov 5[S4]. The $1,561.91 average is 2.1x the $733.15 close, a number that rests on earnings forecasts rather than the market, and the $361 low and $3,000 high are 8.3x apart, so views diverge[S4].

Manager

The question is the direction of target changes: none of the 5 latest is a cut and 2 are raises, so the verdict is Bull. All predate Nov 5, so it will be revisited once November changes appear.[S4]

Issue 5Cash and capex — can cash cover the expansion burden?Bull ahead

Bull

Cash is ample. Cash and short-term investments of $43.4B are 4.2x the $10.3B a year earlier and debt fell 64.5% to $5.2B, leaving $38.3B of net cash[S2]. After $11.1B of capex, Q3 operating cash flow of $44.0B still left $32.9B of free cash flow[S2].

Bear

Spending is growing quickly. Quarterly capex rose 42% from $7.8B to $11.1B and the company flagged about $25B for the first half[S2][S7]. Once the expansion lands and supply grows, prices can fall, and built capacity cannot be undone.

Manager

The question is whether cash covers expansion costs. Capex uses only 25% of operating cash flow and net cash is $38.3B, more than enough, so the verdict is Bull. Post-expansion pricing is checked in the gross margin at the Dec 23 earnings.[S2·S7]

Issue 6Price trend — is the downtrend below the 20-day average over?Bear ahead

Bull

Bottoming signs are appearing. The $733.15 close on Nov 9 is 11.7% above the Nov 5 low of $656.39 and just 1.7% short of the 5-day average of $745.97[S3]. RSI at 36.4 is still some way from the oversold zone (around 30), but room remains for the rebound to continue after the drop[S3].

Bear

The trend is still down. The close is below the 20-day ($866.21), 60-day ($956.05) and 120-day ($954.52) averages and has not regained the 200-day at $758.39[S3]. The nearest downside is the three-month band floor at $697.63 (−4.8%), and the stock is 41.6% below its $1,255 high[S3].

Manager

The question is whether the downtrend is over. The stock has not climbed above either the 200-day or the 20-day average, so no trend reversal is confirmed and the verdict is Bear. It will be revisited on a close above the 200-day average at $758.39.[S3]

1bScenarios

LightView does not issue its own target price. The high, average and low of external target prices are used as price references for scenarios[S4]

Bull case · Highest external price target

$3000.00 +309.2%

Condition: memory prices keep rising and gross margin stays at or above 86%

Base case · Average external price target

$1561.91 +113.0%

Condition: Q4 2026 guidance ($60B–$63B revenue) holds and supply stays tight

Bear case · Lowest external price target

$361.00 −50.8%

Condition: the price cycle turns and new supply such as TSMC's pushes margins sharply lower

1cConditions That Change the Verdict

Upgrade Conditions

Dec 23 earnings (Yahoo estimate)Revenue near the $63B top of guidance with gross margin above 86% would weaken the Bear case

TSMC official commentsAn official confirmation that TSMC has no memory plans would flip the competition issue to Bull

Price trendA close above the 200-day average ($758.39) and recovery toward the 20-day ($866.21) would weaken the downtrend

Downgrade Conditions

Dec 23 earnings (Yahoo estimate)Revenue below the $60B low end of guidance or gross margin under 86% would strengthen the Bear case

TSMC official commentsA TSMC decision to enter advanced memory would strengthen the Bear case on competition

Price targetsAn average target falling below $1,400 from $1,561.91 would signal lower expectations

The verdict is based only on the data in this report and is not a recommendation to buy or sell.

Investment Summary

Q3 revenue was $54.2B, up 379% year over year, at an 80.7% operating margin[S2]. Next-quarter revenue guidance is $60B–$63B[S7].

Financials Q3 2026 (ended Aug 31, company fiscal Q4) · price as of Nov 9 close

Close (11/9)

$733.15

Day +6.3%

External Avg Target vs. Current Price

+113.0%

Avg $1561.91 · 45 analysts

52-Week Low · High

Low$192.59
High$1255.00

Next Earnings

TBD

Q4 2026 earnings

2aKey Data

Quarterly revenue $54.2B, up 379% year over yearQ3 · operating income $43.8B (80.7% margin), 11.8x the $3.7B a year earlier[S2]

One-day drop of 17.5% on Nov 5, 41.6% below the highClose $656.39 on 2.5x average volume · AI chip selloff and reports of a delayed Taiwan fab[S3][S7]

Reports of TSMC entering advanced memory (Nov 10)24/7 Wall St. reported intent to enter while TIKR said TSMC stays in logic ICs, so reports conflict[S7]

Q4 2026 revenue guidance of $60B–$63BMidpoint is 13.4% above Q3's $54.2B · non-GAAP gross margin about 86%, which the company called the fiscal-year floor[S7]

President Scott DeBoer sold $25.7MOct 16 · 28,544 shares at $900–$902 · no executive buys in 60 days[S8]

Overall

Revenue up 379% and the next-quarter guidance support results, but the Nov 5 plunge, the TSMC competition reports and the President's sale weigh on the stock.

2bKey Metrics

Market cap

About $829.5B

Close (11/9)

$733.15 (+6.3%)

52-week high

$1,255.00 (6/25)

52-week low

$192.59 (25.11.21)

P/E (TTM)

9.9x

Forward PER

4.0x

P/S

6.2x

Average price target

$1,561.91

Q4 2026 revenue guidance

$60B–$63B

Employees

61,000 (Yahoo)

Financials are Yahoo figures for Q3 2026 (June–August, ended Aug 31)[S2]. Yahoo's $37.7B net income includes $0.6B of interest income, and the 86.8% gross margin is on Yahoo's basis, which differs from the company's 87.0% non-GAAP gross margin[S7].

Business & Competitive Advantage

Micron makes DRAM, NAND and HBM memory for server, PC and smartphone customers; press reports attribute the year-over-year revenue jump to AI server demand and tight supply[S7].

US · NASDAQ MU · August fiscal year-end · 61,000 employees

3aBusiness Structure

DRAM

DRAM

Main memory for servers, PCs and smartphones

Company-wide quarterly revenue was $54.2B, 4.8x a year earlier; segment sales are in the company's filing tables[S2]

HBM

HBM

High-bandwidth memory attached to AI accelerators

Press reports cite AI server demand as the driver of revenue and the 80.7% operating margin[S7]

NAND

NAND and SSD

Flash memory that stores data

Fellow NAND maker Sandisk also trades at 3.5x forward P/E, so low multiples span the industry[S6]

Contracts

Customer agreements

Long-term supply deals that fix volumes in advance

Press reports cite 26 strategic customer agreements including take-or-pay terms; terms are not yet public[S7]

Recent Business Developments

Results · Q3 revenue $54.2B (+379%) · operating income $43.8B, 80.7% margin
Guidance · Q4 2026 revenue $60B–$63B · non-GAAP gross margin about 86% · EPS $38.15 ± $1.00
Investment · About $25B of capex planned for the first half · Q3 capex $11.1B
Outlook · Press reports describe an effort to improve revenue visibility through long-term customer contracts[S7]

3bCompetitive Advantage (Moat) Assessment

Six sources rated Strong·Medium·Weak

ProfitabilityStrong

An 80.7% operating margin and 86.8% gross margin (Yahoo basis) show the supply advantage in the numbers.

FinancesStrong

Net cash of $38.3B and debt down 64.5% give ample strength to ride out a downturn.

Customer dealsMedium

26 long-term deals including take-or-pay terms were reported, but terms are undisclosed.

Pricing powerMedium

Profit leans on sharply higher prices, so margins could revert if supply grows.

CompetitionMedium

Reports of TSMC entering advanced memory make the long-run competitive picture uncertain.

Production sitesMedium

Reports of a delayed Taoyuan, Taiwan fab mean the expansion schedule needs checking.

Overall · Moat Medium

Profitability and cash are strong, but the price cycle and possible TSMC competition put the moat at medium.

Earnings & Financials

Revenue grew from $11.3B to $54.2B over five quarters and operating margin rose from 32.6% to 80.7%[S2].

Last five quarters · unit: 100M USD · August fiscal year-end · quarters named by calendar · Yahoo basis

4aRevenue & Earnings

RevenueOperating IncomeNet IncomeUnit: $B

Only the latest quarter (Q3 2026) is in a darker color[S2]

Quarterly revenue

$54.2B

+379.3% vs $11.3B a year earlier

Operating income

$43.8B

+1,084.7% vs $3.7B a year earlier

Net income

$37.7B

+1,077.8% vs $3.2B a year earlier

	Q3 2025	Q4	Q1 2026	Q2	Q3
Revenue	11.3	13.6	23.9	41.5	54.2
Operating Income	3.7	6.1	16.1	33.3	43.8
Net Income	3.2	5.2	13.8	28.2	37.7
Operating Margin	32.6%	45.0%	67.6%	80.4%	80.7%

One-Line Take

Operating margin rose from 32.6% to 45.0%, 67.6%, 80.4% and 80.7%; the last two quarters are nearly flat, so margin expansion has stalled. Net income of $37.7B includes $0.6B of interest income[S2].

4bCash Flow

Operating Cash FlowCapexUnit: $B · M

Number below bar = free cash flow (operating cash flow − capex)

Annual (FY ends August)	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	1.6	8.5	17.5	89.7
Capex	7.7	8.4	15.9	30.7
Free Cash Flow	−6.1	+121M	+1.7	+59

4cFinancial Structure

Item	Now	Aug 2025	Change
Cash and short-term investments (8/31)	$43.4B	$10.3B	+321.4%
Debt (8/31)	$5.2B	$14.6B	−64.5%
Net cash (cash & investments − debt)	$38.3B	−$4.3B	—

Shares outstanding (8/31)

1.13B

+0.8% vs 1.12B a year ago (Yahoo financials)[S2]

Stock-based compensation (TTM)

$1.33B

Yahoo basis, about 1.0% of revenue[S2]

4dProfitability Metrics

Metric	Q3 2026	Year earlier	Calculation
Gross margin	86.8%	44.7%	Gross profit ÷ revenue (Yahoo basis)
Operating margin	80.7%	32.6%	Operating income ÷ revenue
Net margin	69.5%	28.3%	Net income ÷ revenue
Operating cash flow margin	81.1%	50.6%	Operating cash flow ÷ revenue

Valuation

TTM P/E is 9.9x and forward P/E 4.0x, below the peer medians of 26.6x and 10.3x[S6].

LightView does not issue its own target price · price range is based on external firms’ target prices

5aP/E trend

137.5x

Aug 2024 P/E

Close $96.24 ÷ EPS $0.70

15.7x

Aug 2025 P/E

Close $119.01 ÷ EPS $7.59

12.9x

Aug 2026 P/E

Close $958.73 ÷ EPS $74.33

9.9x

Now (11/9) TTM P/E

Close $733.15 ÷ TTM EPS $74.21

4.0x

Now (11/9) forward P/E

Close $733.15 ÷ next-12-month estimated EPS $182.52

10.3x

Peer median forward P/E

Median of SNDK, WDC, STX, AMAT and LRCX (TTM P/E 26.6x)

P/E = price ÷ earnings per share (EPS). On TTM EPS of $74.21 it is 9.9x; on next-12-month estimated EPS of $182.52 it is 4.0x. Year-end P/E is the end-of-August close ÷ fiscal-year diluted EPS.

TTM PER · Forward PER

The Nov 9 close of $733.15 is 9.9x TTM EPS of $74.21 and 4.0x next-12-month estimated EPS of $182.52, against peer medians of 26.6x and 10.3x[S6].

5bPrice Range · 52-Week vs. External Targets

Current Price $733.15

52-Week Range

$192.59$1255.00

External Target Price

$361.00 −50.8%$3000.00 +309.2%

Avg Target $1561.91 +113.0%

$192.59$3000.00

52-week range is intraday (low 25.11.21 · high 6/25) · External price targets: Yahoo Finance, 45 analysts (Buy 45·Hold 4·Sell 0)[S4]

5cPeer Multiples Comparison

Company	PER (TTM)	Forward PER	P/S	Market Cap
Micron MU	9.9x	4.0x	6.2x	$829.2B
Sandisk SNDK	7.1x	3.5x	4.4x	$127.7B
Western Digital WDC	11.2x	9.5x	7.5x	$108.5B
Seagate STX	26.6x	10.3x	8.4x	$116.3B
Applied Materials AMAT	31.9x	20.0x	9.5x	$294.1B
Lam Research LRCX	33.0x	20.9x	10.6x	$277.0B

Nov 9 close · Yahoo Finance · peer median TTM P/E 26.6x, forward P/E 10.3x, P/S 8.4x[S6]

Chart & Options

The $733.15 close is below all five moving averages, including the 5-day ($745.97) and 200-day ($758.39), with RSI at 36.4[S3].

Aug 10 – Nov 9, 2026 daily closes · 5-, 20-, 60-, 120- and 200-day moving averages

41.6% below the 52-week highBelow all five moving averages · RSI 36.4

Aug 10 – Nov 9 daily closes · moving averages are 5-, 20-, 60-, 120- and 200-day

6aKey Price Levels Above and Below Current Price

Each colored bar matches the same-colored line on the chart; the percentage is the distance from the current price (green above · red below)

Above Current Price

5D MA 745.97+1.7%

200D MA 758.39+3.4%

20D MA 866.21+18.1%

Supertrend 887.59+21.1%

120D MA 954.52+30.2%

60D MA 956.05+30.4%

Bollinger upper 1034.8+41.1%

Below Current Price

Lower Bollinger Band 697.63−4.8%

6bTechnical Indicators

RSI

36.4

30–50 · weak zone

MACD

−65.97

Below signal line (−45.20)

ADX

35.1

Strong trend · −DI 42.5 > +DI 13.1

News & Schedule

The main recent events are the 17.5% drop on Nov 5, the 6.3% rebound on Nov 9 and the President's $25.7M sale on Oct 16[S3][S8].

Per press reports · right side shows close, % change and volume on the news date

7aNews

11/9 Up 6.3% in a chip rebound after a week of AI chip sellingVolume was 1.03x the 20-day average · Nvidia fell about 4% the same day on the CEO probe report[S7]

+6.3%733.15USD
11/9 Volume 31.9M shares

11/5 Plunged 17.5% in a day amid an AI chip selloff and reports of a delayed Taiwan fabClose $656.39 on 2.5x average volume · the Taoyuan fab delay is per press reports and the company said operations were normal[S7]

-17.5%656.39USD
11/5 Volume 77.9M shares

10/16 President Scott DeBoer sold 28,544 shares for $25.7M$900–$902 per share · Yahoo Form 4 summary · the stock fell 5.6% that day[S8]

-5.6%878.84USD
10/16 Volume 30.5M shares

7bUpcoming Events

Nov 13 (Fri) Weekly options expiryMost-traded call strike $800 (28K contracts), put strike $650 (9K)[S5]

Nov 20 (Fri) Monthly options expiryThe two nearest expiries on Yahoo's list (Nov 11 and Nov 13) account for 46.4% of options volume[S5]

Dec 23 (Wed, TBD) Q4 2026 earningsNot confirmed by the company; Yahoo estimates Dec 23, to be compared with guidance ($60B–$63B revenue) and Yahoo consensus (EPS $38.29, revenue $61.8B)[S2][S7]

Macro

The 10-year yield is 4.86%, WTI December futures $86.9 and the VIX 19.92; volatility and oil both eased over the week[S9].

As of Nov 9 close · compared with Nov 2

10-year yield (11/9)

4.86%

−0.03pp vs 4.89% on 11/2

WTI Dec futures (11/9)

$86.9

−10.0% vs $96.5 on 11/2

USD/KRW (11/9)

₩1,362.7

+2.8% vs ₩1,325.5 on 11/2

Gold Dec futures (11/9)

$4,114.5

+3.7% vs $3,969.6 on 11/2

Bitcoin (11/9)

$75,223

−1.9% vs $76,677 on 11/2

VIX (11/9)

19.92

−5.8% vs 21.15 on 11/2

VIX 19.92, down 5.8% in a weekLower volatility revives risk appetite and leaves room for a rebound in heavily sold stocks

WTI December futures −10.0%Falling oil eases inflation and rate pressure, which can help growth stocks

10-year yield at 4.86%, a funding burden for heavy spendersHigh rates raise funding costs for memory makers expanding capacity and for their customers

AI chip stocks swing on Nvidia CEO probe reportOn Nov 9 Nvidia fell about 4% while Micron rose 6.3%, a split in sector sentiment

Wall Street View

Of 49 analysts, 45 rate Buy, 4 Hold and none Sell; the $1,561.91 average target is 113.0% above the close[S4].

Reproduced as published by external firms (opinions and target prices)

Analyst opinions 49 · distribution (Yahoo Finance)Buy 45 · Hold 4 · Sell 0

9aExternal Target Price Range

Avg 1561.91 +113.0%

Current Price $733.15

Low $361 −50.8%High $3000 +309.2%

9bRecent Opinions by Firm

Institutions	Opinion	Previous	Target Price	Change	vs. Close
Rosenblatt	Buy	$1,900	$1,900	Maintained	+159.2%
Needham	Buy	$1,650	$1,650	Maintained	+125.1%
Rosenblatt	Buy	$1,900	$1,900	Maintained	+159.2%
DA Davidson	Buy	$2,100	$3,000	Raised	+309.2%
Mizuho	Buy	$1,300	$1,400	Raised	+91.0%

Yahoo Finance: 45 price targets · average $1,561.91 · high $3,000 · low $361 · the 5 latest changes are dated Oct 1–22 (before the Nov 5 plunge)[S4]

Risk Analysis

The largest risks are slowing growth (+30.8% to +13.4% quarter over quarter), possible TSMC entry into memory, and rising capex.

Likelihood and impact rated High·Medium·Low

Risk	Type	Likelihood	Impact	Dates to Watch
Slowing growth (+30.8% to +13.4%)	Demand	High	Medium	Dec 23 earnings
Possible TSMC entry into advanced memory	Competition	High	Medium	TSMC comments
Turn in the price cycle	Profitability	High	Medium	Next year
Capex growth (about $25B in 1H)	Finances	Medium	Medium	Quarterly results
Reported delay at Taiwan fab	Business	Medium	Medium	Company statement
President's sale ($25.7M)	Shareholder value	Medium	Low	Form 4 filings

Likelihood and impact rated High·Medium·Low · When it clears: When this clears: Q4 2026 earnings around Dec 23 (Yahoo estimate) · official comments from TSMC and Micron

Checkpoints & Open Questions

The two most important checkpoints are gross margin in the Dec 23 earnings (Yahoo estimate) and official comments from TSMC and Micron

11aCheckpoints

★★★

Q4 2026 earnings around Dec 23Whether revenue lands within $60B–$63B and gross margin tops 86%

Hold

★★★

TSMC and Micron official commentsWhether TSMC's memory plans and Micron's position are stated

Hold

★★★

Taoyuan, Taiwan fabThe company's explanation of the delay reports and whether work resumes

Hold

★★★

Reclaiming the 200-day average ($758.39)Whether a close above it weakens the downtrend

Hold

★★★

Price target changesWhether the $1,561.91 average falls after the Nov 5 plunge

Hold

11bOpen Questions

Q1. Will gross margin hold above 86%?Guidance about 86%; Q3 was 86.8% on Yahoo's basis (S2·S7)

Q2. Will TSMC enter memory?24/7 Wall St. and TIKR headlines conflicted [S7]

Q3. How far will capex rise?$11.1B in the quarter, about $25B flagged for 1H (S2·S7)

Q4. Will price targets fall after the Nov 5 plunge?Average $1,561.91; the 5 latest changes are dated Oct 1–22 [S4]

Sources & Data Dates

Numbers without a source are not included.

ID	Type	Provider	Content	As-of Date
S1	Filing	SEC 8-K Item 2.02 (Sep 30) filing list	Confirms the earnings filing (figures from S2 and S7)	2026.09.30
S2	Financials	Yahoo Finance	Quarterly and annual financials, share count, estimated EPS, consensus	2026.11.09
S3	Price	Yahoo Finance	Daily closes, volume, moving averages, indicators	2026.11.09
S4	Targets	Yahoo Finance	45 analyst price targets, 49 ratings, 5 latest changes	2026.11.09
S5	Options	Yahoo Finance	Call and put volume, activity by strike, share by expiry	2026.11.09
S6	Peers	Yahoo Finance	SNDK·WDC·STX·AMAT·LRCX PER·P/S	2026.11.09
S7	News	StockTwits, TIKR, Trefis, Kalkine, 24/7 Wall St., Barron's (headlines and summaries)	Q4 2026 guidance ($61.5B ± $1.5B revenue, about 86% gross margin, $38.15 EPS), about $25B first-half capex, Nov 5 selloff coverage, TSMC memory-entry reports	2026.11.10
S8	Insiders	Yahoo Finance (Form 4 summary)	Executive trades in the last 60 days: one sale by the President (Oct 16)	2026.11.09
S9	Macro	Yahoo Finance	US 10-year yield, WTI, USD/KRW, gold, bitcoin, VIX	2026.11.09

Price as of Nov 9, 2026 close · financials Q3 2026 (ended Aug 31)

※ Based on research team debate tally · of 6 issues, Bull 4 (cycle, valuation, targets, cash), Bear 2 (TSMC, price trend), Hold 0; the key issue counts double, so Bull 5 vs Bear 2 → 3-vote gap → BUY

Investment Disclaimer · Card views and reports summarize public data for information only. They do not recommend buying or selling any security and are not investment advice. Investors are responsible for their own decisions and outcomes. AI opinions reflect the issue date and may change.

MicronMicron Technology, Inc. · MU

Research team debate

1aDebate by Issue · 6

1bScenarios

1cConditions That Change the Verdict

Investment Summary

2aKey Data

2bKey Metrics

Business & Competitive Advantage

3aBusiness Structure

3bCompetitive Advantage (Moat) Assessment

Earnings & Financials

4aRevenue & Earnings

4bCash Flow

4cFinancial Structure

4dProfitability Metrics

Valuation

5aP/E trend

5bPrice Range · 52-Week vs. External Targets

5cPeer Multiples Comparison

Chart & Options

6aKey Price Levels Above and Below Current Price

6bTechnical Indicators

News & Schedule

7aNews

7bUpcoming Events

Macro

Wall Street View

9aExternal Target Price Range

9bRecent Opinions by Firm

Risk Analysis

Checkpoints & Open Questions

11aCheckpoints

11bOpen Questions

Sources & Data Dates

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