MU
Micron Technology, Inc.
MU has the edge over SMSI overall, supported by stronger fundamentals and stronger valuation.
SMSI
Smith Micro Software, Inc.
SMSI'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.
SMSI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Under pressure | |
| Strong |
SMSI's balance sheet is currently strong, and its revenue is stable, but its profitability and cash flow are under pressure.
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.
SMSI PE Valuation
SMSI has no meaningful PE right now: it lost money over the past year.
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.
SMSI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect SMSI's losses to shrink, with revenue growing.
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 stronger earnings trend. Trailing diluted EPS is up 879% for MU versus SMSI down 109%.
SMSI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2024 | -$26.40 | -$9.20 |
| Q2 2024 | -$26.90 | -$8.90 |
| Q1 2024 | -$27.20 | -$6.80 |
| Q4 2023 | -$15.20 | +$6.00 |
| Q3 2023 | -$17.20 | +$2.00 |
| Q2 2023 | -$18.00 | +$10.80 |
| Q1 2023 | -$20.40 | +$6.40 |
| Q4 2022 | -$21.20 | +$3.20 |
SMSI is still losing money, but far less than before: $2.32 per share over the past year, against $28.80 at its worst in mid-2022.
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 SMSI 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 SMSI on profitability, with a higher operating margin.
SMSI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5M | +15% |
| Q2 2026 | $4.3M | -1.8% |
| Q1 2026 | $4.2M | -8.7% |
| Q4 2025 | $4M | -20% |
| Q3 2025 | $4.3M | -6.5% |
| Q2 2025 | $4.4M | -14% |
| Q1 2025 | $4.6M | -20% |
| Q4 2024 | $5M | -42% |
SMSI's revenue is recovering but still below its 2021 peak: $5M last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -29% | +74 points |
| Q2 2026 | -55% | +284 points |
| Q1 2026 | -80% | +33 points |
| Q4 2025 | -110% | -20 points |
| Q3 2025 | -103% | +37 points |
| Q2 2025 | -338% | -203 points |
| Q1 2025 | -113% | +430 points |
| Q4 2024 | -90% | -23 points |
SMSI's operating margin was −29% last quarter, up 74 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 SMSI on cash generation, producing positive trailing cash flow while its opponent burns cash.
SMSI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$192K | +$2M |
| Q2 2026 | -$943K | +$1.4M |
| Q1 2026 | -$3.8M | -$3.2M |
| Q4 2025 | -$2.2M | +$2.7M |
| Q3 2025 | -$2.2M | +$1.7M |
| Q2 2025 | -$2.3M | +$1.9M |
| Q1 2025 | -$606K | +$743K |
| Q4 2024 | -$4.9M | -$3.9M |
SMSI has burned cash in most quarters: −$7M over the past year, against −$10M 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 the edge over SMSI on shareholder dilution, with a more favorable share count trend.
| 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.
SMSI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +7.2% | +376K shares |
| 1 year | +44% | +1.7M shares |
| 3 years | +263% | +4M shares |
| 5 years | +415% | +4.5M shares |
| Available history | +435% | +4.5M shares |
SMSI has 6M diluted shares, up 44% from 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 more cash than debt.
SMSI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2021 | -23.7x | Net Cash |
| Q4 2020 | -3.6x | Net Cash |
| Q3 2020 | -2.5x | Net Cash |
| Q2 2020 | -1.9x | Net Cash |
| Q1 2020 | -1.4x | Net Cash |
| Q4 2019 | -2.5x | Net Cash |
SMSI 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).
SMSI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.1 | Neutral |
| Stochastic | 10.8 | Oversold |
SMSI's weekly RSI is 39 (neutral) and its Stochastic is 11 (oversold).
MU PE vs Technology Sector
| Metric | MU | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 61% below |
| PE % | 18 | 35 | 17 pts below |
MU is trading at 11x earnings, a 61% discount to the Technology sector's median of 28x.
SMSI PE vs Technology Sector
| Metric | SMSI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
SMSI has no meaningful PE right now: it lost money over the past year.
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 SMSI on trend strength, trading above more of its moving averages.
SMSI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.45 | 2% below |
| 20 week MA | $2.63 | 8.7% below |
| 50 week MA | $3.04 | 21% below |
| 100 week MA | $3.81 | 37% below |
| 200 week MA | $18.6 | 87% below |
SMSI is in a downtrend: it's below all five of its weekly moving averages, and 87% 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 SMSI on returns for 2026, with the stronger performance.
SMSI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $154.8 | $213.6 | +38% |
| 2021 | $213.6 | $201.6 | -5.6% |
| 2022 | $201.6 | $82.4 | -59% |
| 2023 | $82.4 | $33.1 | -60% |
| 2024 | $33.1 | $7.25 | -78% |
| 2025 | $7.25 | $2.85 | -61% |
| 2026 YTD | $2.85 | $2.40 | -16% |
SMSI has finished five years in a row lower, and it's down 16% so far in 2026.