Positioning political selling, disclosed 2026-09-24
Options put/call open interest 1.09, read 2026-11-01
Ethical passes the values gate
Price884.74 USD
Fair value1,194.40
Ethical score83.9/100
RatingSTRONG OPPORTUNITY
Our investment reviews on this name
2026-10-18Read Distribution931.24-5.0% to today ✓Markup gives way to Distribution first Distribution read since August
2026-09-06Read Markup974.33-9.2% to today Distribution gives way to Markup after a 9% rise in 4 weeks
2026-08-06Read Distribution893.19-0.9% to today ✓Markup gives way to Distribution
2026-07-02Read Markup864.01+2.4% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Micron Technology holds its Distribution at $884.74. The statistical read favours the sellers, held for 48 days.
As held on the ledger · 2026-10-30
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 48 days
Price at the screen
$884.74
Valuation
12.57 trailing · 4.50 forward price to earnings
Values screen
PASS· score 83.9
Beta
2.23
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
18.45%
Below 33%
Interest-bearing debt is just 18.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
1.97%
Below 33%
Cash held in interest-bearing accounts and securities is 2.0% of assets, under the one-third limit.
Pass
Receivables
20.30%
Below 49%
Money owed to the company is 20.3% of assets, under the 49% limit.
Pass
Revenue purity
1.33%
Below 5%
Only 1.3% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Micron Technology clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 18%, inside the ~33% line, and interest is about 1% of its income, under the ~5% line, so it passes.
Read as at 2026-11-01. It updates when the underlying figures move, and past reads are kept below.
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Get an email when MU's ethical verdict changes
Today MU passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads STRONG OPPORTUNITY: it trades at roughly a 35% discount to our $1,194.40 fair value, strong competitive moat, 379.30% revenue growth.
Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. A 35.0% margin of safety to the base estimate.
Where our models see it going: fair-value estimate $1,194.40, with a range of $1,194.40 to $1,415.58, dated to the 2026-10-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Micron Technology: A Memory Maker's Market Moment
Imagine every smartphone, computer, and server humming with memory chips - that's Micron's world. As technology advances, so does the demand for faster, more efficient memory solutions. Micron Technology stands out for its robust revenue growth of 346%, combined with an impressive profit margin of 56%. It's no wonder that 44 analysts have a consensus strong buy rating, with a median target price of $1550. But here's the rub - it operates in a cyclical industry, a sector where the forward P/E of 6.3x might seem like a steal, but could also signal peak earnings and a low multiple trap.
Despite the cyclical nature of the industry, Micron's strong moat and ethical screen pass make it a standout. It designs, develops, and manufactures memory and storage products, capitalizing on the ever-growing tech market. Its robust return on equity of 67% underscores its financial strength. The market's current pricing at $974.33 presents a strong opportunity, considering our fair value sits at $1315.35, providing a margin of safety of 35%.
While the cyclical nature of the business comes with inherent risks, Micron's strong financial metrics, ethical standing, and the market's undervaluation suggest a resilient player in the tech sector. However, investors should remain vigilant about the cyclical nature of the industry. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it already moves more than the market on an average day; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
MU trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-01Distribution$884.74-5.0%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 5.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter.
2026-10-25Distribution$931.24+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 22% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 14.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 175% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter.
2026-10-11Markup$1,082.28+0.0%Entry 9
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 175% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter.
2026-10-02Markup$1,082.28+3.7%Entry 8
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.7% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 175% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter.
2026-09-24Markup$1,043.96+7.1%Entry 7
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 7.1% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 175% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-09-06Markup · changed$974.33+9.1%Entry 6
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 9.1% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 175% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 3.4% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 175% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter.
2026-07-18Markup$864.01+0.0%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 175% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 687%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (40 analysts) rates it strong buy, with a mean price target of $613. Insiders have been net sellers over the past quarter.
2026-07-05Markup$864.01Entry 3
5 July 2026 — $864 — MARKUP. Journal opened. Season: summer, 138 days in the bull state, forward earnings cliff the engine. Tensions on file: CEO’s five-day $12.9M sale plan, record price with 1.9 beta into an unresolved macro week. Next scheduled review: earnings, or a phase event, whichever arrives first.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
