API
Agora, Inc.
API's outlook is improving, though it still trails on the overall score.
MU
Micron Technology, Inc.
MU has the edge over API overall, supported by stronger valuation and stronger modeled upside.
API Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Stable |
API's revenue is currently healthy, and its profitability and balance sheet are stable, but its cash flow is under pressure.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
API PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 36x | $4.09 | — |
| Cheap | 38x | $4.17 | +1.9% |
| Fair | 41x | $4.51 | +10% |
| Expensive | 82x | $9.03 | +121% |
Historical ranges are pointers, not guarantees.
API has the edge over MU in the historical PE scenario, which offers more potential upside but is not a forecast.
MU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 4.6x | $798 | — |
| Cheap | 10x | $777 | -2.7% |
| Current | 11x | $798 | — |
| Fair | 22x | $1,646 | +106% |
| Expensive | 32x | $2,404 | +201% |
Historical ranges are pointers, not guarantees.
MU's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 4.6x next year's earnings.
API Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect API's losses to shrink, with revenue holding steady.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
MU has the edge over API on the outlook, with more favorable revenue expectations.
API Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.11 | +$0.35 |
| Q1 2026 | $0.11 | +$0.46 |
| Q4 2025 | $0.10 | +$0.56 |
| Q3 2025 | $0.05 | +$0.54 |
| Q2 2025 | -$0.24 | +$0.22 |
| Q1 2025 | -$0.35 | +$0.45 |
| Q4 2024 | -$0.46 | +$0.40 |
| Q3 2024 | -$0.49 | +$0.66 |
API has returned to profit: it earned $0.11 per share over the past year, after losing money the year before. Its recent earnings include one-off gains.
MU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $174.95 | +135% |
| Q3 2026 | $74.33 | +879% |
| Q2 2026 | $44.17 | +693% |
| Q1 2026 | $21.18 | +405% |
| Q4 2025 | $10.52 | +201% |
| Q3 2025 | $7.59 | +984% |
| Q2 2025 | $5.57 | +$6.99 |
| Q1 2025 | $4.19 | +$7.64 |
| Q4 2024 | $3.49 | +$9.77 |
MU's earnings per share have climbed steadily: $74.33 over the past year, about 10 times what it earned the year before, and higher year over year for 10 quarters in a row.
API Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $40.5M | +18% |
| Q1 2026 | $37.9M | +14% |
| Q4 2025 | $38.2M | +11% |
| Q3 2025 | $35.4M | +12% |
| Q2 2025 | $34.3M | +0.1% |
| Q1 2025 | $33.3M | +0.8% |
| Q4 2024 | $34.5M | -4.4% |
| Q3 2024 | $31.6M | -9.8% |
API's revenue has grown year over year for six quarters in a row: $40M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -3.8% | +5.3 points |
| Q1 2026 | -6.5% | +4.6 points |
| Q4 2025 | -2.6% | +12 points |
| Q3 2025 | -4.5% | +74 points |
| Q2 2025 | -9.1% | +23 points |
| Q1 2025 | -11% | +27 points |
| Q4 2024 | -14% | +9 points |
| Q3 2024 | -78% | -39 points |
API's operating margin was −3.8% last quarter, up 5.3 points from the same quarter a year ago.
MU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $54.2B | +379% |
| Q2 2026 | $41.5B | +346% |
| Q1 2026 | $23.9B | +196% |
| Q4 2025 | $13.6B | +57% |
| Q3 2025 | $11.3B | +46% |
| Q2 2025 | $9.3B | +37% |
| Q1 2025 | $8.1B | +38% |
| Q4 2024 | $8.7B | +84% |
MU has the edge over API on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 81% | +48 points |
| Q2 2026 | 80% | +57 points |
| Q1 2026 | 68% | +46 points |
| Q4 2025 | 45% | +20 points |
| Q3 2025 | 32% | +13 points |
| Q2 2025 | 23% | +13 points |
| Q1 2025 | 22% | +19 points |
| Q4 2024 | 25% | +49 points |
MU has the edge over API on profitability, with a higher operating margin.
API Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$8.1M | -$3.9M |
| Q1 2026 | -$3.7M | -155% |
| Q4 2025 | $4.7M | +$11.2M |
| Q3 2025 | -$12M | +$4.9M |
| Q2 2025 | -$4.1M | +$8M |
| Q1 2025 | $6.7M | +$20.6M |
| Q4 2024 | -$6.5M | -$2.8M |
| Q3 2024 | -$16.9M | -$11.8M |
API has burned cash in most quarters: −$19M over the past year, against −$21M the year before.
MU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $32.9B | +45543% |
| Q2 2026 | $17.6B | +951% |
| Q1 2026 | $5.5B | +$5.6B |
| Q4 2025 | $3B | +7853% |
| Q3 2025 | $72M | -75% |
| Q2 2025 | $1.7B | +322% |
| Q1 2025 | -$113M | +$52M |
| Q4 2024 | $38M | +$433M |
MU has the edge over API on cash generation, producing positive trailing cash flow while its opponent burns cash.
API Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.3% | -2.2M shares |
| 1 year | -5.9% | -5.8M shares |
| 3 years | -8.1% | -8.1M shares |
| 5 years | -16% | -18M shares |
| Available history | -9.3% | -9.5M shares |
API has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $3.7M |
| Q1 2026 | $13.3M |
| Q4 2025 | $10.9M |
| Q3 2025 | $4.7M |
| Q2 2025 | $10.9M |
| Q1 2025 | $1.2M |
| Q4 2024 | $1.4M |
| Q3 2024 | $3.9M |
API spent $33M buying back its own shares over the past year, up 88% from the year before.
MU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -2M shares |
| 1 year | +1.6% | +18M shares |
| 3 years | +4.6% | +50M shares |
| 5 years | +0.2% | +2M shares |
| Available history | +1.2% | +14M shares |
MU has 1.1B diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $350M |
| Q4 2025 | $300M |
| Q3 2024 | $300M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
MU has spent almost nothing on buybacks in the past year.
API Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | -0.3x | Net Cash |
| Q3 2020 | -111.5x | Net Cash |
| Q2 2020 | -114.0x | Net Cash |
API's net debt is about 2.0 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
MU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
MU has the edge over API on leverage, with a lower net debt burden relative to earnings.
API Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.5 | Neutral |
| Stochastic | 35.3 | Neutral |
API's weekly RSI is 48 (neutral) and its Stochastic is 35 (neutral).
MU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.1 | Neutral |
| Stochastic | 26.9 | Neutral |
MU's weekly RSI is 47 (neutral) and its Stochastic is 27 (neutral).
API PE vs Technology Sector
| Metric | API | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 28x | 28% above |
| PE % | 2 | 36 | 34 pts below |
API is trading at 36x earnings, a 28% premium to the Technology sector's median of 28x, though its earnings don't support one.
MU PE vs Technology Sector
| Metric | MU | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 61% below |
| PE % | 18 | 35 | 17 pts below |
MU has the edge over API on valuation relative to its sector.
API Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.23 | 3.3% below |
| 20 week MA | $4.19 | 2.4% below |
| 50 week MA | $4.13 | 1% below |
| 100 week MA | $4.08 | 0.2% above |
| 200 week MA | $3.54 | 16% above |
API has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 16% above its 200-week average.
MU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $914.5 | 13% below |
| 20 week MA | $931.0 | 14% below |
| 50 week MA | $685.9 | 16% above |
| 100 week MA | $405.4 | 97% above |
| 200 week MA | $246.0 | 225% above |
MU has the edge over API on trend strength, trading above more of its moving averages.
API Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.5 | $42.4 | -16% |
| 2021 | $42.4 | $16.7 | -61% |
| 2022 | $16.7 | $4.02 | -76% |
| 2023 | $4.02 | $2.63 | -35% |
| 2024 | $2.63 | $4.40 | +67% |
| 2025 | $4.40 | $3.93 | -11% |
| 2026 YTD | $3.93 | $4.09 | +4.1% |
API has finished lower in five of the last six years. It's up 4.1% so far in 2026.
MU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.0 | $70.6 | +31% |
| 2021 | $70.6 | $94.4 | +34% |
| 2022 | $94.4 | $50.2 | -47% |
| 2023 | $50.2 | $85.3 | +70% |
| 2024 | $85.3 | $88.6 | +3.9% |
| 2025 | $88.6 | $284.8 | +221% |
| 2026 YTD | $284.8 | $798.4 | +180% |
MU has the edge over API on returns for 2026, with the stronger performance.