MU
Micron Technology, Inc.
MU has the edge over UI overall, supported by stronger valuation and stronger modeled upside.
UI
Ubiquiti Inc.
UI'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.
UI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
UI's revenue, profitability, cash flow and balance sheet are all currently strong.
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 UI in the historical PE scenario, which offers more potential upside but is not a forecast.
UI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $475 | -31% |
| Forward | 34x | $683 | — |
| Fair | 36x | $634 | -7.2% |
| Current | 39x | $683 | — |
| Expensive | 48x | $858 | +26% |
Historical ranges are pointers, not guarantees.
UI's PE is in its fair range at 39x. If earnings grow as analysts expect, today's price would be 34x next year's earnings.
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.
UI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for UI, 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'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.
UI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.37 | +15% |
| Q3 2026 | $17.71 | +36% |
| Q2 2026 | $15.85 | +35% |
| Q1 2026 | $15.55 | +71% |
| Q4 2025 | $14.67 | +99% |
| Q3 2025 | $13.07 | +102% |
| Q2 2025 | $11.76 | +103% |
| Q1 2025 | $9.08 | +57% |
| Q4 2024 | $7.36 | +20% |
UI's earnings per share have climbed steadily: $17.71 over the past year, up 36% from the year before, and higher year over year for eight quarters in a row.
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 UI on sales, with stronger typical year-over-year growth.
| 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 UI on profitability, with a higher operating margin.
UI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1B | +40% |
| Q2 2026 | $937.3M | +23% |
| Q1 2026 | $788.2M | +19% |
| Q4 2025 | $814.9M | +36% |
| Q3 2025 | $733.8M | +33% |
| Q2 2025 | $759.2M | +50% |
| Q1 2025 | $664.2M | +35% |
| Q4 2024 | $599.9M | +29% |
UI's revenue has grown year over year for 11 quarters in a row: $1B last quarter, up 40% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 38% | +2.5 points |
| Q2 2026 | 36% | +1.8 points |
| Q1 2026 | 37% | +2.7 points |
| Q4 2025 | 36% | +6.1 points |
| Q3 2025 | 36% | +4.9 points |
| Q2 2025 | 34% | +7.2 points |
| Q1 2025 | 34% | +12 points |
| Q4 2024 | 30% | +3.8 points |
UI's operating margin was 38% last quarter, up 2.5 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 UI on cash flow, with more consistent year-over-year improvement.
UI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $312.4M | +62% |
| Q2 2026 | $293.1M | +134% |
| Q1 2026 | $162.2M | +34% |
| Q4 2025 | $260.3M | +73% |
| Q3 2025 | $193.3M | -16% |
| Q2 2025 | $125.2M | -45% |
| Q1 2025 | $120.7M | -25% |
| Q4 2024 | $150.4M | +101% |
UI generated $1B in free cash flow over the past year, up 74% 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.
UI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -6K shares |
| 1 year | 0% | +5K shares |
| 3 years | +0.2% | +113K shares |
| 5 years | -3.2% | -2M shares |
| Available history | -6.9% | -4.5M shares |
UI has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $15M |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $105.1M |
| Q1 2022 | $344.7M |
| Q4 2021 | $131.5M |
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.
UI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.4x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.4x | Very low |
UI 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).
UI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.4 | Neutral |
| Stochastic | 62.6 | Neutral |
UI's weekly RSI is 57 (neutral) and its Stochastic is 63 (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 UI on valuation relative to its sector.
UI PE vs Technology Sector
| Metric | UI | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 28x | 38% above |
| PE % | 60 | 35 | 25 pts above |
UI is trading at 39x earnings, a 38% 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 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.
UI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $608.3 | 12% above |
| 20 week MA | $580.1 | 18% above |
| 50 week MA | $648.1 | 5.4% above |
| 100 week MA | $548.4 | 25% above |
| 200 week MA | $365.8 | 87% above |
UI has the edge over MU on trend strength, trading above more of its moving averages.
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 UI on returns for 2026, with the stronger performance.
UI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $189.4 | $273.0 | +44% |
| 2021 | $273.0 | $311.8 | +14% |
| 2022 | $311.8 | $271.6 | -13% |
| 2023 | $271.6 | $139.6 | -49% |
| 2024 | $139.6 | $340.8 | +144% |
| 2025 | $340.8 | $570.7 | +67% |
| 2026 YTD | $570.7 | $683.2 | +20% |
UI's yearly returns have swung widely, from +144% in 2024 to −49% in 2023. It's up 20% so far in 2026.