AMAT vs MU: Which Is the Better Buy?
Side-by-side comparison of Applied Materials, Inc. and Micron Technology, Inc. — fair value, conviction, valuation metrics, and QuantHub research signals.
Updated 2026-09-25.
Applied Materials, Inc. · Technology
$474.38
-3.5% upside to fair value
Med Conviction
Grade C
High Quality
VS
Micron Technology, Inc. · Technology
$1,080.53
+4.1% upside to fair value
Med Conviction
Grade C
High Quality
QuantHub Verdict
MU has more upside to fair value
(+4.1%).
These are model outputs — not personalized investment advice.
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Valuation & Fundamentals
| Metric |
AMAT |
MU |
| Current Price |
$474.38 |
$1,080.53 |
| Fair Value Estimate |
$457.95 |
$1,124.98 |
| Upside to Fair Value |
-3.5%
|
+4.1%
|
| Market Cap |
$376.6B |
$1,220.3B |
| Forward P/E |
—
|
—
|
| EV / EBITDA |
33.1x
|
17.6x
|
| Price / Sales |
12.2x
|
13.5x
|
| Price / FCF |
67.0x
|
46.6x
|
| Revenue Growth YoY |
+24.8%
|
+345.7%
|
| Gross Margin |
49.4%
|
72.6%
|
| Operating Margin |
30.5%
|
65.7%
|
| Return on Equity |
40.4%
|
70.5%
|
| Dividend Yield |
0.42% |
0.05% |
| FCF Yield |
1.49%
|
2.15%
|
| Analyst Consensus |
Strong Buy
|
Strong Buy
|
Investment Thesis
Applied Materials is the largest supplier of wafer fabrication equipment, providing deposition, etch, ion implantation, and process-control tools alongside a growing Applied Global Services aftermarket business to semiconductor manufacturers worldwide. The business quality is high: TTM gross margin of 49.4%, TTM operating margin of 30.5%, TTM net margin of 30.1%, and ROE of 40.4% reflect a durabl…
Micron Technology is a global leader in advanced semiconductor memory and storage, operating across Compute and Networking, Mobile, Storage, and Embedded segments with DRAM, NAND, and NOR products sold under the Micron and Crucial brands to cloud, data center, mobile, automotive, and consumer markets. The business quality is high on current fundamentals: TTM gross margin is 72.6%, TTM operating m…
Accumulation Zones
| Metric |
AMAT |
MU |
| Zone Low |
$343.46 |
$843.74 |
| Zone High |
$389.26 |
$956.23 |
| In Buy Zone? |
No
|
No
|