MU
Micron Technology, Inc.
MU has the edge over VIAV overall, supported by stronger valuation and stronger modeled upside.
VIAV
Viavi Solutions Inc.
VIAV trails on the overall score without a compensating advantage in the available component scores.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
VIAV Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Healthy | |
| Strong |
VIAV's revenue, profitability, cash flow and balance sheet are all currently healthy.
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 VIAV in the historical PE scenario, which offers more potential upside but is not a forecast.
VIAV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 54x | $14.03 | -57% |
| Fair | 93x | $24.16 | -26% |
| Current | 125x | $32.54 | — |
| Expensive | 377x | $98.00 | +201% |
Historical ranges are pointers, not guarantees.
VIAV's PE is in its fair range at 125x.
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.
VIAV Forward outlook
There aren't enough analyst estimates for VIAV to show an outlook.
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 VIAV on earnings, with more consistent year-over-year improvement.
VIAV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.26 | +333% |
| Q2 2026 | -$0.13 | -187% |
| Q1 2026 | -$0.25 | -1350% |
| Q4 2025 | -$0.19 | -$0.01 |
| Q3 2025 | $0.06 | +$0.23 |
| Q2 2025 | $0.15 | +$0.27 |
| Q1 2025 | $0.02 | +$0.04 |
| Q4 2024 | -$0.18 | -1000% |
VIAV's earnings per share have fallen from their peak: $0.26 over the past year, against $0.43 in late 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 VIAV 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 VIAV on profitability, with a higher operating margin.
VIAV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $469.3M | +57% |
| Q2 2026 | $443.1M | +53% |
| Q1 2026 | $406.8M | +43% |
| Q4 2025 | $369.3M | +36% |
| Q3 2025 | $299.1M | +26% |
| Q2 2025 | $290.5M | +15% |
| Q1 2025 | $284.8M | +16% |
| Q4 2024 | $270.8M | +6.4% |
VIAV's revenue has grown year over year for eight quarters in a row: $469M last quarter, up 57% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +15 points |
| Q2 2026 | 14% | +8.6 points |
| Q1 2026 | 6.1% | +3.1 points |
| Q4 2025 | 3.1% | -5.1 points |
| Q3 2025 | 2.5% | -2.3 points |
| Q2 2025 | 5.3% | +7.5 points |
| Q1 2025 | 3% | +7.8 points |
| Q4 2024 | 8.2% | -0.6 points |
VIAV's operating margin was 17% last quarter, up 15 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 has the edge over VIAV on cash flow, with more consistent year-over-year improvement.
VIAV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $92.7M | +312% |
| Q2 2026 | $55.6M | +204% |
| Q1 2026 | -$32.2M | -3320% |
| Q4 2025 | $36.9M | +1.1% |
| Q3 2025 | $22.5M | +263% |
| Q2 2025 | $18.3M | -18% |
| Q1 2025 | $1M | -94% |
| Q4 2024 | $36.5M | +150% |
VIAV generated $153M in free cash flow over the past year, up 95% 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 the edge over VIAV 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.
VIAV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +16% | +36.7M shares |
| 1 year | +19% | +43.3M shares |
| 3 years | +19% | +42M shares |
| 5 years | +15% | +35.1M shares |
| Available history | +12% | +27.9M shares |
VIAV has 266M diluted shares, up 19% from a year ago, despite $150M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $150M |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $30M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
VIAV spent $150M buying back its own shares over the past year, about five times what it spent 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.
VIAV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -2.4x | Net Cash |
| Q1 2026 | 2.9x | Moderate |
| Q4 2025 | 5.0x | High |
| Q3 2025 | 1.0x | Very low |
| Q2 2025 | -1.8x | Net Cash |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 2.5x | Moderate |
VIAV 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).
VIAV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.1 | Neutral |
| Stochastic | 19.6 | Oversold |
VIAV's weekly RSI is 45 (neutral) and its Stochastic is 20 (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 VIAV on valuation relative to its sector.
VIAV PE vs Technology Sector
| Metric | VIAV | Sector median | Relative |
|---|---|---|---|
| PE | 125x | 28x | 349% above |
| PE % | 58 | 35 | 23 pts above |
VIAV is trading at 125x earnings, a 349% 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 VIAV on trend strength, trading above more of its moving averages.
VIAV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.0 | 9.6% below |
| 20 week MA | $37.7 | 14% below |
| 50 week MA | $35.6 | 8.6% below |
| 100 week MA | $23.5 | 38% above |
| 200 week MA | $16.4 | 98% above |
VIAV has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 98% 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 VIAV on returns for 2026, with the stronger performance.
VIAV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.1 | $14.7 | -2.8% |
| 2021 | $14.7 | $17.1 | +16% |
| 2022 | $17.1 | $10.3 | -40% |
| 2023 | $10.3 | $10.1 | -1.8% |
| 2024 | $10.1 | $10.2 | +1.1% |
| 2025 | $10.2 | $18.2 | +79% |
| 2026 YTD | $18.2 | $32.5 | +79% |
VIAV is up 79% so far in 2026, after finishing lower in three of the previous six years.