MU
Micron Technology, Inc.
MU has the edge over POWI overall, supported by stronger valuation and stronger fundamentals.
POWI
Power Integrations, Inc.
POWI has slightly lower modeled downside risk, despite its lower overall score.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
POWI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
POWI's profitability, cash flow and balance sheet are currently strong, 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 has the edge over POWI in the historical PE scenario, which offers more potential upside but is not a forecast.
POWI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 23x | $18.45 | -60% |
| Forward | 26x | $46.06 | — |
| Fair | 53x | $41.55 | -9.8% |
| Current | 58x | $46.06 | — |
| Expensive | 97x | $76.52 | +66% |
Historical ranges are pointers, not guarantees.
POWI's PE is in its fair range at 58x. If earnings grow as analysts expect, today's price would be 26x next year's earnings, in its cheap range.
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.
POWI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for POWI, 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 POWI on earnings, with more consistent year-over-year improvement.
POWI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.76 | +123% |
| Q3 2026 | $0.79 | +163% |
| Q2 2026 | $0.45 | -21% |
| Q1 2026 | $0.30 | -53% |
| Q4 2025 | $0.39 | -30% |
| Q3 2025 | $0.30 | -55% |
| Q2 2025 | $0.57 | -24% |
| Q1 2025 | $0.64 | -30% |
| Q4 2024 | $0.56 | -42% |
POWI's earnings per share have fallen from their peak: $0.79 over the past year, against $3.41 in mid-2020.
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 POWI 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 POWI on profitability, with a higher operating margin.
POWI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $125.5M | +5.5% |
| Q2 2026 | $118.9M | +2.7% |
| Q1 2026 | $108.3M | +2.6% |
| Q4 2025 | $103.2M | -1.9% |
| Q3 2025 | $118.9M | +2.7% |
| Q2 2025 | $115.9M | +9.1% |
| Q1 2025 | $105.5M | +15% |
| Q4 2024 | $105.3M | +18% |
POWI's revenue is recovering but still below its 2022 peak: $125M last quarter, up 5.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +19 points |
| Q2 2026 | 7.5% | +8.6 points |
| Q1 2026 | 1.3% | -5 points |
| Q4 2025 | 8.5% | +4.8 points |
| Q3 2025 | -3.3% | -13 points |
| Q2 2025 | -1.2% | -3 points |
| Q1 2025 | 6.4% | +5.9 points |
| Q4 2024 | 3.7% | +4.9 points |
POWI's operating margin was 15% last quarter, up 19 points from the same quarter a year ago.
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 POWI on cash flow, with more consistent year-over-year improvement.
POWI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $36.5M | +51% |
| Q2 2026 | $17.7M | -24% |
| Q1 2026 | $18M | -13% |
| Q4 2025 | $19.2M | +64% |
| Q3 2025 | $24.2M | -11% |
| Q2 2025 | $23.1M | +72% |
| Q1 2025 | $20.7M | +79% |
| Q4 2024 | $11.7M | +15% |
POWI's free cash flow has been positive every quarter for seven years: $91M over the past year, up 15% 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.
POWI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -88K shares |
| 1 year | +1.5% | +812K shares |
| 3 years | -2% | -1.1M shares |
| 5 years | -7.7% | -4.8M shares |
| Available history | -5.7% | -3.4M shares |
POWI has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $42.4M |
| Q2 2025 | $32.6M |
| Q1 2025 | $23.1M |
| Q4 2024 | $1.9M |
POWI hasn't bought back shares in the past year.
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.
POWI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.5x | Net Cash |
| Q2 2026 | -1.7x | Net Cash |
| Q1 2026 | -2.0x | Net Cash |
| Q4 2025 | -1.5x | Net Cash |
| Q3 2025 | -1.4x | Net Cash |
| Q2 2025 | -1.3x | Net Cash |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -1.0x | Net Cash |
POWI has the edge over MU on leverage, with a lower net debt burden relative to earnings.
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).
POWI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.3 | Neutral |
| Stochastic | 14.0 | Oversold |
POWI's weekly RSI is 41 (neutral) and its Stochastic is 14 (oversold).
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 POWI on valuation relative to its sector.
POWI PE vs Technology Sector
| Metric | POWI | Sector median | Relative |
|---|---|---|---|
| PE | 58x | 28x | 109% above |
| PE % | 54 | 35 | 19 pts above |
POWI is trading at 58x earnings, a 109% premium to the Technology sector's median of 28x.
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 POWI on trend strength, trading above more of its moving averages.
POWI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $47.2 | 2.4% below |
| 20 week MA | $55.2 | 17% below |
| 50 week MA | $55.5 | 17% below |
| 100 week MA | $53.1 | 13% below |
| 200 week MA | $64.5 | 29% below |
POWI is in a downtrend: it's below all five of its weekly moving averages, and 29% below 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 POWI on returns for 2026, with the stronger performance.
POWI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $49.5 | $79.5 | +61% |
| 2021 | $79.5 | $89.4 | +12% |
| 2022 | $89.4 | $72.1 | -19% |
| 2023 | $72.1 | $82.1 | +14% |
| 2024 | $82.1 | $63.0 | -23% |
| 2025 | $63.0 | $37.3 | -41% |
| 2026 YTD | $37.3 | $46.1 | +23% |
POWI has finished lower in three of the last six years. It's up 23% so far in 2026.