MICRON TECHNOLOGY Business Summary

Micron Technology Inc. (MU) is the sole major U.S.-based manufacturer of memory and storage solutions, generating revenue primarily through the high-volume sale of Dynamic Random Access Memory (DRAM) and NAND flash products. As of February 2026, the company has completed a strategic pivot to exit the consumer retail market—discontinuing its long-standing Crucial brand—to focus exclusively on enterprise-grade solutions for data centers and artificial intelligence. Its operations are organized into four primary business units: Cloud Memory, Core Data Center, Mobile and Client, and Automotive and Embedded. Micron currently leads the industry in High-Bandwidth Memory (HBM) for AI accelerators, with its 2026 supply already fully committed to hyperscale clients. It competes directly with South Korean titans Samsung Electronics and SK Hynix, as well as emerging Chinese manufacturers Yangtze Memory Technologies (YMTC) and ChangXin Memory Technologies (CXMT), maintaining a competitive edge through its advanced 1-gamma DRAM and G9 NAND technology nodes. Founded in 1978 by Ward Parkinson, Joe Parkinson, Dennis Wilson, and Doug Pitman in a Boise, Idaho dental office basement, the company is now led by Chairman, President, and CEO Sanjay Mehrotra. Mehrotra, a co-founder and former CEO of SanDisk, brings over 40 years of semiconductor expertise, supported by Executive Vice President and Chief Technology Officer Scott J. DeBoer and CFO Mark Murphy. The leadership team is bolstered by a high-pedigree Board of Directors that includes Robert Swan (former CEO of Intel), Mark Liu (former Executive Chairman of TSMC), and Lead Independent Director Lynn Dugle. This executive core oversees a massive global expansion, including a $200 billion long-term commitment to U.S. manufacturing facilities in Idaho and New York, alongside significant capacity increases in Singapore to meet the surging global demand for AI-native memory architecture.