Micron Technology, Inc (MTE) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Micron Technology, Inc €136, price €956, upside -85.7%, quality 75 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Micron Technology, Inc
MTE · XETRAQuality Too ExpensiveExcellent quality, but the valuation looks stretched.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.
How to read this chart
60‑month range €45.41 – €1,034 · fair‑value band €61.64 – €209.84 · the €955.60 price screens above the €136.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 28, 2026.
Company profile
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally. It operates through the Cloud Memory Business Unit; Core Data Center Business Unit; Mobile and Client Business Unit; and Automotive and Embedded Business Unit segments.
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Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally. It operates through the Cloud Memory Business Unit; Core Data Center Business Unit; Mobile and Client Business Unit; and Automotive and Embedded Business Unit segments. The company provides memory products, including dynamic random access memory components and modules, CXL-based memory, LPDDR components and modules, graphics memory, high-bandwidth memory, and data center memory products; multichip packages (MCP) comprising embedded multimedia card-based, universal flash storage-based, and NAND-based MCPs; and technology leadership products that include 1y DRAM and G9 NAND technologies. It also offers storage products, such as data center solid-state drives (SSD), client SSD storage, and auto and industrial SSD storage; managed NAND; NAND flash; NOR flash; and memory cards. In addition, the company provides design tools, including FBGA and part decoders; DRAM power calculators; NAND power calculators; simulation models; chipset compatibility guides; serial presence-detection tools; cross-reference tools; UFSparm; SSD firmware; software and drivers; storage executive software; and obsolete part catalogs. It markets its semiconductor memory and storage products under the Micron and Crucial brands. The company serves the data center, PC, graphics, networking, automotive, industrial, and consumer embedded markets, as well as the smartphone and other mobile-device markets. It sells its products through its direct sales force, independent sales representatives, distributors, and retailers; web-based customer direct sales channel; and channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.
Stock analysis
Micron Technology, Inc (MTE) currently trades at €955.60, while our model-based Fair Value estimate is €136.25, 85.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €163.47 per share, and 0 of the 26 models we run sit above the €955.60 price.
Bear case: the Asset-Based group reads lowest at €28.54, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: €61.64 (bear) to €209.84 (bull), the price of €955.60 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 75/100 (high quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Micron Technology, Inc reported revenue of $37.4B in FY2025 versus $27.7B in FY2021, a compound +7.8%/yr. Reported net income was $8.5B in FY2025, compounding +9.9%/yr from FY2021.
Key figures
Market cap €1.1T · P/E ratio 24.6 · P/S ratio 5.62 · EPS (TTM) €38.85 · Dividend yield 0.1% · Net margin 22.8% · Return on equity 66.6% · Return on assets (EBIT) 6.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 510% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −41% fair-value upside, at −86%, MTE screens richer than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 66
Revenue & earnings trend
Growth Forecast
MTE screens overvalued: fair value 86% below the price. Compare with NVIDIA Corporation →
Compare Micron Technology, Inc with another stock
Price, fair value, quality and upside side by side.
Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: German Stocks
- Valuation of the Germany market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Semiconductors stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NVIDIA Corporation NVDA | $228.38 | $198.56 | −13% |
| Taiwan Semiconductor Manufacturing Company TSM | $459.20 | $505.12 | +10% |
| Broadcom Inc AVGO | $351.19 | $303.10 | −14% |
| Advanced Micro Devices, Inc AMD | $611.76 | $122.60 | −80% |
| SK hynix Inc 000660 | 1,833,000 KRW | 2,016,300 KRW | +10% |
| Intel Corporation INTC | $115.93 | $33.67 | −71% |
| Arm Holdings ARM | $310.32 | $44.44 | −86% |
| MediaTek Inc 2454 | 5,285 TWD | 3,142 TWD | −41% |
| Texas Instruments Incorporated TXN | $280.09 | $81.75 | −71% |
| Marvell Technology, Inc MRVL | $251.90 | $101.64 | −60% |
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