Founded in Boise, Idaho in 1978, Micron Technology has grown into a global semiconductor powerhouse with $37.4 billion in annual revenue and roughly 53,000 employees.
Micron Technology has been making memory chips for nearly five decades, and today it stands as one of the largest semiconductor companies in the world. Headquartered in Boise, Idaho — not Silicon Valley — the company is something of a quiet giant in American manufacturing. It went public on the NASDAQ in June 1984 and now trades under the ticker symbol MU.
At its core, Micron does two things: it makes DRAM (dynamic random access memory) and NAND flash memory chips. DRAM is the fast, temporary memory that keeps a computer or server running smoothly in real time. NAND is the longer-term flash storage found in devices like smartphones and solid-state drives. DRAM is the bigger revenue driver for Micron, though the company also has meaningful exposure to the NAND market.
Micron sells its chips into a wide range of end markets — data centers, mobile phones, consumer electronics, and automotive and industrial applications. The breadth of that customer base helps spread its risk across different sectors of the economy. Importantly, Micron is vertically integrated, meaning it designs and manufactures its own chips rather than outsourcing production to a third-party foundry. That gives the company more control over quality, cost, and capacity.
On the financial side, Micron reported $37.4 billion in revenue for fiscal year 2025, with net income of $8.5 billion. A net margin of 22.8 cents on every dollar of revenue is a solid result for a capital-intensive manufacturer. The gross margin — what's left after the direct cost of making the chips — came in at 39.8%, a figure that reflects both pricing power and the efficiency gains that come with vertical integration.
Revenue grew 35% between fiscal year 2021 and fiscal year 2025, a stretch that included significant swings in the broader chip market. Memory chips are historically cyclical — demand and prices can move sharply with shifts in data center spending or consumer electronics trends — so sustained growth over a multi-year period points to underlying demand strength, particularly from the data center and artificial intelligence buildout underway across the industry.
Micron's total assets stand at $82.8 billion, a number that reflects the enormous investment required to build and maintain cutting-edge chip fabrication plants. These facilities, known as fabs, cost billions of dollars each and take years to bring online, which is why semiconductor manufacturing is one of the more capital-intensive industries in the world.
In terms of market value, Micron carries a market capitalization of approximately $974.4 billion, making it one of the most valuable companies on the NASDAQ. The stock trades at a price-to-earnings ratio of 149.2, which means investors are paying a significant premium relative to current earnings — a common feature of high-growth technology companies where future earnings expectations drive much of the valuation.
The company pays a dividend, though the yield is modest at roughly 0.05% annually. For context, that is well below what most income-focused investors would seek from a dividend stock, suggesting Micron's shareholder appeal rests more on growth expectations than on income distribution.
At approximately 53,000 employees worldwide, Micron is a major employer with deep roots in Idaho and a footprint that extends across the globe. The company has been publicly traded for more than four decades, and its continued scale and profitability reflect the central role that American-made memory chips play in the digital economy.
This article is factual reporting drawn from public filings and market data, and is not intended as investment advice.