Key Stats
Micron Technology, Inc. operates as a leading semiconductor manufacturer that designs, develops, and distributes advanced memory and storage solutions worldwide. The company specializes in dynamic random access memory, NAND flash memory, NOR flash memory, and other semiconductor components.
Founded in Boise, Idaho, Micron has grown from a modest semiconductor design consulting firm into one of the world’s foremost producers of memory technologies. The company serves diverse markets including data centers, mobile devices, automotive applications, consumer electronics, and industrial systems.
As the only U.S.-based manufacturer of memory chips, Micron maintains a strategic position in the global semiconductor industry. The company markets its products under the Micron and Crucial brands, reaching customers through direct sales, distribution partners, and retail channels across multiple continents.
Micron Technology, Inc. History
Four entrepreneurs founded Micron as a semiconductor design consulting company in Boise, Idaho. Ward Parkinson, Joe Parkinson, Dennis Wilson, and Doug Pitman started operations in a dental office basement with funding from local Idaho businessmen.
The company transitioned from consulting to manufacturing by completing its first wafer fabrication unit. This facility produced 64K DRAM chips, marking Micron’s entry into semiconductor manufacturing.
Micron conducted its initial public offering, providing essential capital for expansion. The company went public during a challenging period when many believed no new U.S. memory chip manufacturer could succeed.
Steve Appleton took over as Chairman, President, and CEO when founder Joe Parkinson retired. This leadership transition marked a shift toward more aggressive expansion strategies.
Micron partnered with Intel to establish IM Flash Technologies, a joint venture focused on NAND flash memory production. This collaboration strengthened Micron’s position in the flash memory market.
The company acquired Lexar Media for approximately $634 million, expanding its footprint in consumer-oriented flash memory products. This move enabled direct retail distribution and reduced reliance on commoditized DRAM sales.
Micron acquired Numonyx for $1.27 billion, adding NOR flash memory capabilities. The deal strengthened the company’s portfolio in embedded markets and expanded its technological capabilities.
The acquisition of bankrupt Elpida Memory for $2.5 billion transformed Micron into the second-largest DRAM manufacturer globally. Through this deal, Micron became a major supplier to Apple for iPhone and iPad memory.
Micron completed the acquisition of the remaining 67 percent of Inotera Memories, making it a wholly owned subsidiary. This provided additional manufacturing capacity in Taiwan.
Sanjay Mehrotra joined as President and CEO, bringing extensive industry experience. Under his leadership, Micron discontinued the Lexar retail business to focus on core DRAM and NAND operations.
Micron announced the first microSD card with 1 terabyte storage capacity. The company also purchased Intel’s noncontrolling interest in IM Flash Technologies.
The company achieved record quarterly revenue driven by strong demand for AI memory solutions. Micron began mass production of HBM3E memory, positioning itself as a key supplier to the artificial intelligence market alongside customers like NVIDIA and major data center operators.
Micron Technology, Inc. Co-founders
Co-founder and deal negotiator who secured early funding and partnerships. Twin brother of Joe Parkinson.
Co-founder and first CEO who led Micron through volatile market cycles from 1978 to 1994.
Co-founder who helped establish the company’s technical foundation and early operations in Boise.
Co-founder who contributed to the initial semiconductor design consulting business model and operations.
Micron Technology, Inc. Competitors
Micron operates in a highly competitive semiconductor memory market dominated by three major players. The company faces intense competition from larger rivals while maintaining technological differentiation through innovation.
| Company | Headquarters | Primary Products | Market Position |
|---|---|---|---|
| Samsung Electronics | Seoul, South Korea | DRAM, NAND, HBM | Market leader in memory chips |
| SK Hynix | Icheon, South Korea | DRAM, NAND, HBM | Second largest DRAM manufacturer |
| Intel Corporation | Santa Clara, California | Optane, processors | Former memory competitor |
| Western Digital | San Jose, California | SSDs, HDDs, NAND | Leading storage solutions provider |
| Kioxia | Tokyo, Japan | NAND flash, SSDs | Major NAND manufacturer |
| Kingston Technology | Fountain Valley, California | Memory modules, SSDs | Independent memory products |
| NVIDIA | Santa Clara, California | GPUs, AI chips | Major HBM customer |
| Advanced Micro Devices | Santa Clara, California | Processors, GPUs | Growing HBM customer |
| TSMC | Hsinchu, Taiwan | Foundry services | Packaging partner |
| Transcend Information | Taipei, Taiwan | Memory modules, storage | Consumer memory products |
Samsung Electronics dominates the memory market with the largest share in both DRAM and NAND production. The South Korean giant operates massive fabrication facilities and invests heavily in research and development to maintain technological leadership.
SK Hynix emerged as a formidable competitor through strategic acquisitions and technological innovation. The company acquired Intel Corporation’s NAND business in 2020 for $9 billion, expanding its manufacturing capacity and customer base significantly. SK Hynix leads the high bandwidth memory market with approximately 52 percent share.
While Intel divested its NAND business, the company remains influential through Optane technology and strategic partnerships. Intel’s advanced packaging capabilities compete indirectly with memory solutions in certain applications.
Western Digital competes primarily in storage markets with enterprise SSDs holding 18 percent market share. The company’s acquisition of SanDisk strengthened its position in NAND flash memory and consumer storage products.
Kioxia maintains significant presence in NAND manufacturing with approximately 12 percent market share. The Japanese company focuses on innovation in 3D NAND technology and enterprise storage applications.
Competition intensifies around high bandwidth memory for artificial intelligence applications. Micron faces pressure from both Samsung and SK Hynix as demand for HBM3E and future HBM4 products accelerates. The company differentiates through technical innovation, achieving higher stack densities and faster transfer rates than competitors.
Micron Technology, Inc. Market Cap
As of November 2025, Micron Technology maintains a market capitalization of $271.58 billion, ranking as the world’s 47th most valuable company. This valuation reflects investor confidence in the company’s position within the artificial intelligence memory market.
The company’s market value fluctuated significantly over the past decade due to cyclical patterns in the semiconductor memory industry. Periods of oversupply drove down valuations while capacity constraints and strong demand elevated the stock price.
Micron’s current valuation accounts for expectations of substantial growth in high bandwidth memory demand. Analysts project the HBM market will reach $100 billion by 2030, with Micron positioned to capture approximately 20 percent market share.
Micron Technology, Inc. Acquisitions
Micron pursued strategic acquisitions to strengthen its market position and expand technological capabilities throughout its history. The company’s acquisition strategy focused on gaining manufacturing capacity, accessing new markets, and securing intellectual property rights.
The 2006 purchase of Lexar Media for $634 million expanded Micron’s presence in consumer flash memory products. This acquisition enabled the company to reach retail customers directly through digital media cards and USB drives under the Crucial brand.
In 2010, Micron acquired Numonyx for $1.27 billion in stock. This deal brought NOR and NAND flash capabilities along with experienced engineering talent. The acquisition positioned Micron to serve embedded and mobile markets more effectively.
The landmark 2013 acquisition of Elpida Memory transformed Micron’s competitive standing. For $2.5 billion, Micron gained the second-largest DRAM manufacturer position globally and secured Apple as a major customer. The deal included innovative payment terms where installments came from Elpida’s future cash flows.
Micron also purchased PC memory manufacturer Rexchip for $334 million in 2013, gaining an 89 percent ownership stake. This provided cost-competitive manufacturing facilities in Taiwan with leading-edge production capabilities.
The company completed full acquisition of Inotera Memories in 2016 after previously holding a minority stake. This move consolidated Micron’s manufacturing footprint and eliminated potential capacity constraints in Taiwan.
In 2019, Micron bought Intel’s remaining interest in IM Flash Technologies for $1.25 billion. This acquisition gave Micron complete control over NAND flash production facilities and eliminated potential conflicts with Intel’s strategic direction.
Earlier acquisitions included NetFrame Systems in 1997 for server market entry and Texas Instruments’ memory division in 1998 during a period of industry consolidation. The company also purchased Displaytech in 2009 to add FLCOS microdisplay technology.
These strategic moves helped Micron achieve its current scale and technological leadership. The acquisitions provided manufacturing capacity, customer relationships, and engineering expertise that would have taken years to develop internally.
Micron Technology, Inc. Revenue
Micron Technology generated $25.1 billion in revenue during fiscal year 2024, representing a 62 percent increase from the prior year. The company expects record revenue in fiscal 2025 driven by robust demand for data center DRAM products and high bandwidth memory.
The semiconductor memory market operates in cycles, with pricing fluctuations driven by supply and demand dynamics. Micron experienced significant revenue volatility between 2015 and 2024, reaching a peak of $30.8 billion in 2022.
During fiscal 2024, DRAM sales totaled $17.6 billion while NAND products contributed substantial revenue. The company projects continued growth through 2025 as artificial intelligence applications drive demand for advanced memory solutions.
Micron operates in a highly competitive semiconductor memory market dominated by three major players. The company faces intense competition from larger rivals while maintaining technological differentiation through innovation.
| Company | Headquarters | Primary Products | Market Position |
|---|---|---|---|
| Samsung Electronics | Seoul, South Korea | DRAM, NAND, HBM | Market leader in memory chips |
| SK Hynix | Icheon, South Korea | DRAM, NAND, HBM | Second largest DRAM manufacturer |
| Intel Corporation | Santa Clara, California | Optane, processors | Former memory competitor |
| Western Digital | San Jose, California | SSDs, HDDs, NAND | Leading storage solutions provider |
| Kioxia | Tokyo, Japan | NAND flash, SSDs | Major NAND manufacturer |
| Kingston Technology | Fountain Valley, California | Memory modules, SSDs | Independent memory products |
| NVIDIA | Santa Clara, California | GPUs, AI chips | Major HBM customer |
| Advanced Micro Devices | Santa Clara, California | Processors, GPUs | Growing HBM customer |
| TSMC | Hsinchu, Taiwan | Foundry services | Packaging partner |
| Transcend Information | Taipei, Taiwan | Memory modules, storage | Consumer memory products |
Samsung Electronics dominates the memory market with the largest share in both DRAM and NAND production. The South Korean giant operates massive fabrication facilities and invests heavily in research and development to maintain technological leadership.
SK Hynix emerged as a formidable competitor through strategic acquisitions and technological innovation. The company acquired Intel’s NAND business in 2020 for $9 billion, expanding its manufacturing capacity and customer base significantly. SK Hynix leads the high bandwidth memory market with approximately 52 percent share.
While Intel Corporation divested its NAND business, the company remains influential through Optane technology and strategic partnerships. Intel’s advanced packaging capabilities compete indirectly with memory solutions in certain applications.
Western Digital competes primarily in storage markets with enterprise SSDs holding 18 percent market share. The company’s acquisition of SanDisk strengthened its position in NAND flash memory and consumer storage products.
Kioxia maintains significant presence in NAND manufacturing with approximately 12 percent market share. The Japanese company focuses on innovation in 3D NAND technology and enterprise storage applications.
Competition intensifies around high bandwidth memory for artificial intelligence applications. Micron faces pressure from both Samsung and SK Hynix as demand for HBM3E and future HBM4 products accelerates. The company differentiates through technical innovation, achieving higher stack densities and faster transfer rates than competitors while serving major enterprise customers including IBM and hyperscale data center operators.
FAQs
What does Micron Technology, Inc. do?
Micron designs, manufactures, and distributes semiconductor memory and storage solutions including DRAM, NAND flash, and NOR flash products for computing, mobile, automotive, data center, and industrial applications worldwide.
Who founded Micron Technology?
Ward Parkinson, Joe Parkinson, Dennis Wilson, and Doug Pitman founded Micron Technology in October 1978 in Boise, Idaho, starting as a semiconductor design consulting company before transitioning to manufacturing.
How much revenue does Micron Technology generate?
Micron generated $25.1 billion in revenue during fiscal 2024, up 62 percent from the previous year. The company expects continued growth driven by AI memory demand and data center expansion.
What is Micron Technology’s market capitalization?
As of November 2025, Micron maintains a market cap of $271.58 billion, ranking as the world’s 47th most valuable company. This valuation reflects strong positioning in AI memory markets.
Who are Micron Technology’s main competitors?
Samsung Electronics, SK Hynix, Western Digital, Kioxia, and Intel Corporation represent Micron’s primary competitors in the semiconductor memory and storage markets, with Samsung holding the largest global market share.