MU
Micron Technology, Inc.
MU has the edge over NTES overall, supported by stronger valuation and stronger modeled upside.
NTES
NetEase, Inc.
NTES's outlook is improving, though it still trails on the overall score.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
NTES Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
NTES's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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.
NTES PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $116 | -5.6% |
| Current | 16x | $123 | — |
| Fair | 19x | $140 | +14% |
| Expensive | 29x | $220 | +79% |
Historical ranges are pointers, not guarantees.
NTES has the edge over MU in the historical PE scenario, which offers more potential upside but is not a forecast.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for MU, with profitability improving.
NTES Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for NTES, with profitability improving.
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 has the edge over NTES on earnings, with more consistent year-over-year improvement.
NTES Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $7.53 | -5.6% |
| Q1 2026 | $7.92 | +5% |
| Q4 2025 | $7.84 | +14% |
| Q3 2025 | $8.46 | +33% |
| Q2 2025 | $7.98 | +20% |
| Q1 2025 | $7.54 | +7.9% |
| Q4 2024 | $6.90 | +1.8% |
| Q3 2024 | $6.36 | +2.9% |
NTES earned $7.53 per share over the past year, down 5.6% from the year before.
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 NTES 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 NTES on profitability, with a higher operating margin.
NTES Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.5B | +7.6% |
| Q1 2026 | $4.6B | +6.1% |
| Q4 2025 | $4.1B | +3% |
| Q3 2025 | $4.3B | +8.2% |
| Q2 2025 | $4.2B | +9.4% |
| Q1 2025 | $4.3B | +7.4% |
| Q4 2024 | $4B | -1.4% |
| Q3 2024 | $3.9B | -3.9% |
NTES's revenue has grown year over year for six quarters in a row: $4.5B last quarter, up 7.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 40% | +7.7 points |
| Q1 2026 | 41% | +5.1 points |
| Q4 2025 | 30% | +1 points |
| Q3 2025 | 28% | +1 points |
| Q2 2025 | 32% | +5.1 points |
| Q1 2025 | 36% | +7.8 points |
| Q4 2024 | 29% | +3.9 points |
| Q3 2024 | 27% | -0.4 points |
NTES's operating margin was 40% last quarter, up 7.7 points from the same quarter a year ago, near the top of its range since 2019.
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 generated $59B in free cash flow over the past year, more than ten times what it generated the year before.
NTES Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $1.5B | -3.7% |
| Q1 2026 | $2B | +16% |
| Q4 2025 | $2.2B | +14% |
| Q3 2025 | $1.9B | +25% |
| Q2 2025 | $1.6B | +74% |
| Q1 2025 | $1.7B | +27% |
| Q4 2024 | $1.9B | +12% |
| Q3 2024 | $1.5B | +18% |
NTES's free cash flow has been positive every quarter for seven years: $7.5B over the past year, up 13% 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.
NTES Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -1.1M shares |
| 1 year | +0.2% | +1.4M shares |
| 3 years | -0.8% | -5.5M shares |
| 5 years | -4.9% | -32.9M shares |
| Available history | -1.4% | -9M shares |
NTES has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $268.4M |
| Q1 2026 | $197.2M |
| Q4 2025 | $2.4M |
| Q3 2025 | $5.3M |
| Q2 2025 | $53.4M |
| Q1 2025 | $45.6M |
| Q4 2024 | $239.4M |
| Q3 2024 | $599.4M |
NTES spent $473M buying back its own shares over the past year, down 50% from the year before.
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 more cash than debt.
NTES Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -1.0x | Net Cash |
| Q1 2025 | -0.8x | Net Cash |
| Q4 2024 | -1.0x | Net Cash |
| Q3 2024 | -0.3x | Net Cash |
NTES has more cash than debt.
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).
NTES Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.3 | Neutral |
| Stochastic | 49.8 | Neutral |
NTES's weekly RSI is 50 (neutral) and its Stochastic is 50 (neutral).
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 NTES on valuation relative to its sector.
NTES PE vs Technology Sector
| Metric | NTES | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 28x | 42% below |
| PE % | 26 | 35 | 9 pts below |
NTES is trading at 16x earnings, a 42% discount to the Technology sector's median of 28x, though its earnings don't support one.
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 pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 225% above its 200-week average.
NTES Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $120.9 | 1.4% above |
| 20 week MA | $123.3 | 0.5% below |
| 50 week MA | $123.5 | 0.7% below |
| 100 week MA | $122.1 | 0.5% above |
| 200 week MA | $108.4 | 13% above |
NTES's trend is mixed: it's above three of its five weekly moving averages, and 13% above its 200-week average.
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 NTES on returns for 2026, with the stronger performance.
NTES Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $61.2 | $92.7 | +51% |
| 2021 | $92.7 | $97.8 | +5.6% |
| 2022 | $97.8 | $71.1 | -27% |
| 2023 | $71.1 | $93.2 | +31% |
| 2024 | $93.2 | $91.5 | -1.8% |
| 2025 | $91.5 | $138.1 | +51% |
| 2026 YTD | $138.1 | $122.6 | -11% |
NTES has finished higher in four of the last six years, two of them by more than 50%. It's down 11% so far in 2026.