Micron (MU) trades at 12.0 times earnings, below NVIDIA at 27.1 times and Western Digital at 13.4 times (figures predate its October 22 results), while Qualcomm is excluded from the P/E comparison after a loss in one quarter. Over its latest four quarters, Micron's sales rose 256.3%, against 83.4% for NVIDIA, and its operating margin reached 74.6%, against 65.2% for NVIDIA. Its operating margin rose from 32.3% in fiscal Q4 2025 to 80.7% in fiscal Q4 2026, though it posted an operating loss equal to 34.7% of sales in fiscal 2023 after a 31.6% margin in fiscal 2022. Management guided fiscal Q1 2027 revenue to $60 billion to $63 billion, against $54.2 billion in fiscal Q4 2026, and a GAAP gross margin of 86.0%; results are expected in December 2026.
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