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Relative Intelligence · Semiconductors

How Micron Technology (MU) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on MU alone. It places MU (Micron Technology, Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where MU stands in the market, and of the alternatives worth a closer look.

Period covered: MU's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against MU →Chart MU vs. 21 alternatives →
On this page12 sections

Key findings

How much would $10,000 in MU have grown?

This chart tracks a hypothetical $10,000 investment in MU over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of MU over the same span and MU's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 69 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of MU; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,000$1M$10M199720022007201220172022$1,000$10,000$100,000$1M$10M19972004201120182025
  • STRL$8M+78,764% total · +25.9% a year
  • LRCX$2M+24,786% total · +21.0% a year
  • KLAC$1M+10,976% total · +17.6% a year
  • FIX$1M+10,682% total · +17.5% a year
  • QCOM$779,813+7,698% total · +16.2% a year
  • MU$629,766+6,198% total · +15.4% a year
  • MSFT$508,386+4,984% total · +14.5% a year
  • ADI$385,909+3,759% total · +13.4% a year
  • AMD$375,764+3,658% total · +13.3% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 5 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of MU. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000202120222023202420252026$10,000$20,000$50,000$100,000$200,000202120222023202420252026
  • CLS$407,013+3,970% total · +110% a year
  • POWL$273,283+2,633% total · +93.8% a year
  • FIX$236,701+2,267% total · +88.3% a year
  • STRL$216,918+2,069% total · +85.0% a year
  • BELFB$203,703+1,937% total · +82.7% a year
  • MU$153,675+1,437% total · +72.7% a year
  • DELL$112,363+1,024% total · +62.2% a year
  • NVDA$110,811+1,008% total · +61.8% a year
  • AMD$59,452+495% total · +42.8% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
Change the dates or add tickers to this chart in EasyCompare

MU at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$1.0T
Industry
Semiconductors
Price history from
October 1986

Returns

Past 1 year
+334%total return
Past 3 years
+1,246%+138% a year
Past 5 years
+1,244%+68.1% a year
Past 10 years
+5,243%+48.9% a year
Best calendar year
+301%2009
Worst calendar year
−68.6%2002
Losing years
13 of 29full calendar years

Risk

Volatility
57.1%typical yearly swing, 5 years
Sharpe ratio
1.20return per unit of risk, 5 years
Worst decline ever
−98.3%Jul 2000 to Nov 2008
From its all-time high
−26.1%below the peak

MU against the whole market

Where MU ranks among every stock and fund, and what across the market has done better.

How does MU rank among all stocks?

This section ranks MU on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how MU stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureMURankStanding
1-year return+334%13 of 3,287top 1%
3-year return+1,246%12 of 3,017top 1%
5-year return+1,244%7 of 2,893top 1%
10-year return+5,243%6 of 2,202top 1%
Volatility, 5 years57.1%2,192 of 2,893bottom 25%
Sharpe ratio, 5 years1.2022 of 2,893top 1%
Worst decline, past 10 years−57.6%790 of 2,187top 36%

What has beaten MU on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). MU sits where the dashed lines cross. Anything in the green box above and to the left earned more than MU with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to MU. 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%0.0%20.0%40.0%60.0%80.0%100%120%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MUMU: +68.1% a year, volatility 57.1%SPY (S&P 500): +12.7% a year, volatility 17.1%FIX: +77.0% a year, volatility 46.7%BELFB: +78.0% a year, volatility 52.1%CLS: +101% a year, volatility 59.7%STRL: +78.4% a year, volatility 60.0%MUSPY (S&P 500)FIXBELFBCLSSTRL10.0%20.0%30.0%40.0%50.0%60.0%70.0%0.0%20.0%40.0%60.0%80.0%100%120%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MUMU: +68.1% a year, volatility 57.1%SPY (S&P 500): +12.7% a year, volatility 17.1%FIX: +77.0% a year, volatility 46.7%BELFB: +78.0% a year, volatility 52.1%CLS: +101% a year, volatility 59.7%STRL: +78.4% a year, volatility 60.0%MUSPY (S&P 500)FIXBELFBCLSSTRL
  • The whole market

Is there a better investment than MU?

Investments that beat MU over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat MU over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks MU's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than MU follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than MU's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× MU's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than MU's.

Screen the whole market against MU for any period in BetterThanSPYOpen these 5 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with MU?lower diversifies moreExpenseper year
MUMicron Technology, Inc. · this page
+68.1%57.1%1.20−57.6%+5,243%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.510.09%
The whole marketbest 4 shownEvery other stock and fund worth at least $500 million. 4 of 3,489 passed at least one test.
FIXComfort Systems USA, Inc. · Engineering & Construction
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+77.0%46.7%1.46−49.7%+5,305%0.27—
BELFBBel Fuse Inc. · Hardware, Equipment & Parts
On the frontierHigher return, lower volatility+78.0%52.1%1.37−79.8%+872%0.33—
CLSCelestica Inc. · Electronics Manufacturing
On the frontierHigher return, similar volatility+101%59.7%1.47−80.6%+2,771%0.29—
STRLSterling Infrastructure, Inc. · Engineering & Construction
Higher return, similar volatility+78.4%60.0%1.26−59.6%+5,213%0.52—
What these numbers mean for MU
Annual return
MU returned 68.1% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $134,000. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
MU's volatility over the past 5 years was 57.1%, 3.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MU's return lands within 57.1% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
MU's Sharpe ratio over the past 5 years was 1.20, against 0.79 for the S&P 500, so MU earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
MU's worst fall from a peak to a low over the past 10 years was 57.6%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 57.6% fall takes a 136% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, MU's monthly returns had a correlation of 0.51 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against MU instead: the lower it is, the more that option would diversify a MU holding. Guide: Correlation and diversification →
Show all 2 stocks and funds worth at least $500 million that earned more than MU with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with MUExpense
1
FIXComfort Systems USA, Inc. · Engineering & Construction
Whole market+77.0%46.7%1.46−49.7%+5,305%0.27—
2
BELFBBel Fuse Inc. · Hardware, Equipment & Parts
Whole market+78.0%52.1%1.37−79.8%+872%0.33—

MU against its popular alternatives

The investments people most often weigh against MU, compared period by period and year by year.

How do MU's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at MU, which divides the map into what did better or worse on each measure.

Green points earned more than MU with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMU: 68.2% a year, volatility 57.1%SPY (S&P 500): 12.7% a year, volatility 17.1%AMD: 35.7% a year, volatility 57.6%MRVL: 29.5% a year, volatility 65.2%RMBS: 32.8% a year, volatility 58.2%NVDA: 58.0% a year, volatility 51.9%DELL: 55.2% a year, volatility 54.4%TSM: 31.5% a year, volatility 38.5%MSFT: 12.5% a year, volatility 28.2%ADI: 19.5% a year, volatility 34.1%LRCX: 37.4% a year, volatility 49.9%KLAC: 38.7% a year, volatility 46.7%AVGO: 48.3% a year, volatility 44.5%AMAT: 25.8% a year, volatility 47.4%TXN: 9.9% a year, volatility 33.7%QCOM: 8.2% a year, volatility 42.8%NXPI: 5.7% a year, volatility 42.3%STX: 57.4% a year, volatility 48.7%UMC: 19.9% a year, volatility 43.2%WDC: 53.8% a year, volatility 53.5%SIMO: 28.0% a year, volatility 55.1%INTC: 12.4% a year, volatility 55.6%MUSPY (S&P 500)AMDMRVLRMBSNVDADELLTSMMSFTADILRCXKLACAVGOAMATTXNQCOMNXPISTXUMCWDCSIMOINTC10.0%20.0%30.0%40.0%50.0%60.0%70.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMU: 68.2% a year, volatility 57.1%SPY (S&P 500): 12.7% a year, volatility 17.1%AMD: 35.7% a year, volatility 57.6%MRVL: 29.5% a year, volatility 65.2%RMBS: 32.8% a year, volatility 58.2%NVDA: 58.0% a year, volatility 51.9%DELL: 55.2% a year, volatility 54.4%TSM: 31.5% a year, volatility 38.5%MSFT: 12.5% a year, volatility 28.2%ADI: 19.5% a year, volatility 34.1%LRCX: 37.4% a year, volatility 49.9%KLAC: 38.7% a year, volatility 46.7%AVGO: 48.3% a year, volatility 44.5%AMAT: 25.8% a year, volatility 47.4%TXN: 9.9% a year, volatility 33.7%QCOM: 8.2% a year, volatility 42.8%NXPI: 5.7% a year, volatility 42.3%STX: 57.4% a year, volatility 48.7%UMC: 19.9% a year, volatility 43.2%WDC: 53.8% a year, volatility 53.5%SIMO: 28.0% a year, volatility 55.1%INTC: 12.4% a year, volatility 55.6%MUSPY (S&P 500)AMDMRVLRMBSNVDADELLTSMADILRCXKLACAVGOAMATQCOMNXPISTXUMCWDCINTC
All figures
InvestmentAnnual returnVolatility
MU This pageMicron Technology, Inc.+68.2%57.1%
NVDA NVIDIA Corporation+58.0%51.9%
STX Seagate Technology Holdings plc+57.4%48.7%
DELL Dell Technologies Inc.+55.2%54.4%
WDC Western Digital Corporation+53.8%53.5%
AVGO Broadcom Inc.+48.3%44.5%
KLAC KLA Corporation+38.7%46.7%
LRCX Lam Research Corporation+37.4%49.9%
AMD Advanced Micro Devices, Inc.+35.7%57.6%
RMBS Rambus Inc.+32.8%58.2%
TSM Taiwan Semiconductor Manufacturing Company Limited+31.5%38.5%
MRVL Marvell Technology, Inc.+29.5%65.2%
SIMO Silicon Motion Technology Corporation+28.0%55.1%
AMAT Applied Materials, Inc.+25.8%47.4%
UMC United Microelectronics Corporation+19.9%43.2%
ADI Analog Devices, Inc.+19.5%34.1%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MSFT Microsoft Corporation+12.5%28.2%
INTC Intel Corp.+12.4%55.6%
TXN Texas Instruments Incorporated+9.9%33.7%
QCOM QUALCOMM Incorporated+8.2%42.8%
NXPI NXP Semiconductors N.V.+5.7%42.3%
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Has MU consistently beaten its popular alternatives?

This section compares MU with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than MU helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than MU over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
MU Micron Technology, Inc. (this page)—−14.2%+3.6%+99.9%+184%+334%+1,246%+1,244%+5,243%57.1%1.20−57.6%—$1.0T—
NVDA SemiconductorsNVIDIA Corporation2/5 short1/3 long−4.8%+6.6%+7.4%+14.9%+18.8%+425%+884%+13,019%51.9%1.14−66.3%—$5.2T—
AMD SemiconductorsAdvanced Micro Devices, Inc.2/5 short1/3 long−13.1%+6.2%+94.5%+139%+122%+425%+359%+7,583%57.6%0.82−65.5%—$873B—
DELL Computer HardwareDell Technologies Inc.3/5 short0/3 long−19.6%+21.3%+127%+265%+217%+636%+800%+3,701%54.4%1.08−59.6%—$294B—
MRVL SemiconductorsMarvell Technology, Inc.2/5 short0/3 long−6.6%+23.4%+62.7%+169%+181%+390%+264%+1,874%65.2%0.72−61.9%—$211B—
TSM SemiconductorsTaiwan Semiconductor Manufacturing Company Limited2/5 short0/3 long−4.5%+5.9%+16.6%+34.0%+44.3%+382%+293%+1,505%38.5%0.91−56.6%—$2.2T—
MSFT Software - InfrastructureMicrosoft Corporation2/5 short0/3 long+6.0%+32.5%+27.7%+13.2%+3.8%+66.6%+80.3%+946%28.2%0.56−37.1%—$3.9T—
ADI SemiconductorsAnalog Devices, Inc.2/5 short0/3 long+3.7%+6.9%+4.8%+46.3%+63.3%+150%+144%+652%34.1%0.69−33.6%—$192B—
LRCX SemiconductorsLam Research Corporation1/5 short0/3 long−12.8%−14.0%+0.3%+42.8%+83.7%+350%+390%+2,989%49.9%0.89−56.4%—$330B—
KLAC SemiconductorsKLA Corporation1/5 short0/3 long−12.1%−22.0%−10.2%+27.4%+41.0%+258%+413%+2,534%46.7%0.94−46.3%—$211B—
AVGO SemiconductorsBroadcom Inc.1/5 short0/3 long−7.8%−11.4%−16.0%−3.3%−3.5%+305%+617%+2,380%44.5%1.11−48.3%—$1.6T—
AMAT SemiconductorsApplied Materials, Inc.1/5 short0/3 long−12.8%−22.9%+3.7%+51.2%+78.5%+209%+215%+1,488%47.4%0.72−55.1%—$321B—
RMBS SemiconductorsRambus Inc.1/5 short0/3 long−4.7%−8.4%−27.2%−6.9%−5.5%+68.7%+313%+691%58.2%0.78−52.9%—$10B—
TXN SemiconductorsTexas Instruments Incorporated1/5 short0/3 long+2.6%−1.7%+20.1%+59.1%+58.7%+105%+60.5%+424%33.7%0.45−33.4%—$254B—
QCOM SemiconductorsQUALCOMM Incorporated1/5 short0/3 long−9.5%+3.7%+28.9%+3.2%+7.4%+72.4%+48.3%+239%42.8%0.40−44.3%—$188B—
NXPI SemiconductorsNXP Semiconductors N.V.1/5 short0/3 long+2.2%−10.7%+8.2%+8.8%+10.0%+34.9%+31.9%+159%42.3%0.34−53.3%—$60B—
GFS SemiconductorsGLOBALFOUNDRIES Inc.1/5 short0/3 long−3.0%−17.0%−19.7%+28.0%+32.7%−13.2%————−61.5%—$26B—
STX Computer HardwareSeagate Technology Holdings plc0/5 short0/3 long−23.0%−15.8%+25.3%+136%+217%+975%+866%+2,698%48.7%1.18−57.0%—$154B—
UMC SemiconductorsUnited Microelectronics Corporation0/5 short0/3 long−22.7%−3.1%+58.4%+155%+166%+202%+147%+1,610%43.2%0.63−54.3%—$49B—
WDC Computer HardwareWestern Digital Corporation0/5 short0/3 long−18.7%−25.2%−2.6%+94.3%+200%+1,030%+759%+911%53.5%1.07−70.5%—$136B—
SIMO SemiconductorsSilicon Motion Technology Corporation0/5 short0/3 long−20.6%−15.2%+54.7%+130%+125%+320%+243%+494%55.1%0.71−56.5%—$7.2B—
INTC SemiconductorsIntel Corp.0/5 short0/3 long−24.7%−5.5%+39.6%+133%+141%+167%+79.8%+219%55.6%0.49−70.8%—$485B—
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How did MU do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where MU ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with MU and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of MU; gray means the two finished within a fraction of a point. The rank row places MU among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of MU20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
MU This pageMicron Technology, Inc.—+240%−1.0%+71.9%−45.9%+24.2%+39.8%+69.5%−22.8%+87.6%+54.7%−59.5%+60.9%+243%+0.8%−21.6%−24.1%+301%−63.6%−48.0%+4.9%+7.8%−8.3%+38.2%−68.6%−12.7%−8.7%+53.8%+94.9%−10.9%
Rank among alternativesTop quarter in 7 of 292 of 2214 of 228 of 2216 of 2215 of 2113 of 219 of 2113 of 211 of 215 of 2020 of 204 of 201 of 2012 of 2013 of 2019 of 193 of 1814 of 1817 of 1810 of 1810 of 179 of 1716 of 1715 of 1612 of 166 of 149 of 133 of 139 of 11
SPY S&P 500State Street SPDR S&P 500 ETF15 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
NVDA NVIDIA Corporation16 of 26+38.9%+171%+239%−50.2%+125%+122%+76.4%−30.8%+82.5%+228%+67.1%+27.4%+33.5%−11.0%−10.0%−17.6%+131%−76.3%+37.9%+102%+55.2%+1.6%+102%−82.8%+308%+39.6%———
AMD Advanced Micro Devices, Inc.15 of 29+77.3%−18.1%+128%−55.0%+56.9%+100.0%+148%+79.6%−9.3%+295%+7.5%−31.0%+61.3%−55.6%−34.0%−15.5%+348%−71.2%−63.1%−33.5%+39.0%+47.8%+131%−59.3%+14.8%−4.6%−0.2%+63.3%−31.1%
DELL Dell Technologies Inc.6 of 9+11.2%+53.0%+95.9%−26.6%+51.3%+42.6%+5.1%+8.6%+47.8%————————————————————
MRVL Marvell Technology, Inc.13 of 25−22.8%+83.8%+63.7%−57.5%+84.6%+80.3%+65.7%−23.6%+56.9%+60.5%−37.8%+2.5%+102%−46.7%−25.3%−10.6%+211%−52.3%−27.1%−31.6%+58.1%+87.1%+101%−47.2%+63.5%————
TSM Taiwan Semiconductor Manufacturing Company Limited17 of 28+55.7%+92.0%+41.8%−37.0%+11.7%+91.6%+63.3%−4.3%+37.9%+31.2%+4.9%+31.1%+4.5%+37.7%+7.3%+14.9%+52.9%−16.1%−4.3%+18.9%+27.1%−4.2%+56.7%−54.8%+39.5%−51.0%+290%+13.4%—
MSFT Microsoft Corporation18 of 29+15.6%+12.9%+58.2%−28.0%+52.5%+42.5%+57.6%+20.8%+40.8%+15.1%+22.7%+27.5%+44.3%+5.8%−4.5%−6.5%+60.5%−44.4%+20.8%+15.8%−1.0%+9.2%+6.2%−22.0%+52.8%−62.9%+68.4%+115%+56.5%
ADI Analog Devices, Inc.14 of 29+29.8%+8.8%+23.4%−4.9%+21.0%+26.9%+41.3%−1.6%+25.3%+35.0%+2.4%+12.2%+24.7%+21.2%−2.4%+22.7%+71.5%−38.0%−1.5%−6.7%−1.9%−18.7%+91.4%−46.2%−13.3%+10.1%+197%+13.3%+8.9%
LRCX Lam Research Corporation16 of 29+139%−6.9%+88.6%−40.7%+53.7%+64.2%+119%−24.4%+75.1%+35.3%+1.5%+46.5%+51.0%−2.5%−28.5%+31.9%+84.1%−50.7%−14.6%+41.6%+23.5%−10.5%+199%−53.4%+59.7%−61.0%+527%−39.1%+4.0%
KLAC KLA Corporation17 of 29+94.5%+9.4%+56.0%−11.2%+68.1%+47.9%+104%−12.4%+36.7%+17.0%+2.1%+39.4%+39.0%+2.1%+28.8%+9.9%+69.8%−53.5%−2.7%+1.9%+6.2%−20.3%+65.8%−28.7%+46.6%−39.3%+157%+11.9%+8.9%
AVGO Broadcom Inc.11 of 16+50.6%+110%+104%−13.3%+56.5%+45.0%+29.0%+2.2%+48.2%+23.6%+46.1%+93.4%+70.0%+12.0%+3.0%+55.4%—————————————
AMAT Applied Materials, Inc.16 of 29+59.6%+1.1%+68.0%−37.5%+83.6%+43.3%+89.9%−34.9%+59.8%+75.7%−23.5%+43.7%+58.6%+10.2%−21.9%+3.0%+40.4%−42.1%−2.6%+3.8%+5.4%−23.8%+72.3%−35.0%+5.0%−39.7%+197%+41.7%+67.9%
RMBS Rambus Inc.13 of 28+73.8%−22.6%+90.5%+21.9%+68.3%+26.7%+79.7%−46.1%+3.3%+18.8%+4.5%+17.1%+94.5%−35.5%−63.1%−16.1%+53.3%−24.0%+10.6%+16.9%−29.6%−25.1%+358%−16.0%−77.9%+114%−29.9%+110%—
TXN Texas Instruments Incorporated15 of 29−4.5%+13.1%+6.4%−9.9%+17.5%+31.7%+39.6%−7.2%+46.8%+36.7%+5.1%+25.1%+46.3%+7.9%−8.8%+27.0%+72.0%−52.8%+17.0%−9.8%+30.7%−15.9%+96.6%−46.2%−40.8%−1.8%+126%+90.7%+42.3%
QCOM QUALCOMM Incorporated15 of 29+13.8%+8.3%+35.1%−38.6%+22.3%+77.1%+60.8%−7.6%+1.1%+35.1%−30.6%+2.3%+22.4%+14.9%+12.3%+9.0%+31.1%−7.6%+5.5%−11.3%+2.5%+58.3%+49.1%−28.0%−38.5%−53.3%+2,621%+6.4%+27.2%
NXPI NXP Semiconductors N.V.6 of 15+6.4%−8.0%+48.4%−29.2%+44.8%+26.6%+75.7%−37.0%+19.5%+16.3%+10.3%+66.3%+74.5%+71.2%−26.6%——————————————
GFS GLOBALFOUNDRIES Inc.1 of 4−18.6%−29.2%+12.4%−17.1%—————————————————————————
STX Seagate Technology Holdings plc13 of 23+225%+4.1%+69.1%−51.4%+87.5%+10.2%+62.1%−2.9%+13.4%+13.4%−42.4%+22.5%+89.7%+95.5%+12.9%−17.4%+313%−82.0%−2.2%+34.4%+17.8%−6.9%+77.7%——————
UMC United Microelectronics Corporation12 of 25+28.7%−19.0%+39.0%−40.3%+43.1%+232%+55.4%−21.9%+42.2%−2.7%−13.2%+15.2%+5.7%−2.8%−26.9%−16.8%+98.2%−37.7%−28.9%+15.3%−2.2%−23.6%+52.9%−58.0%+33.7%————
WDC Western Digital Corporation13 of 29+284%+13.9%+66.0%−51.6%+17.7%−10.9%+77.1%−51.9%+19.8%+17.5%−44.3%+34.0%+101%+39.1%−8.7%−23.2%+286%−62.1%+47.7%+10.0%+71.7%−8.2%+84.5%+1.8%+158%−41.9%−72.2%−5.9%−43.7%
SIMO Silicon Motion Technology Corporation8 of 20+76.9%−8.9%−4.9%−30.4%+102%−1.8%+51.7%−33.1%+27.1%+37.6%+35.4%+72.5%+4.6%−30.5%+381%+24.5%+48.8%−87.1%+12.1%+32.3%—————————
INTC Intel Corp.11 of 29+84.0%−59.6%+94.5%−46.6%+6.0%−14.7%+30.7%+4.2%+30.9%+8.7%−2.2%+44.3%+30.9%−12.0%+19.4%+6.3%+43.9%−43.5%+34.2%−17.2%+8.1%−26.6%+107%−50.3%+4.9%−26.9%+39.1%+69.0%+7.4%
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Risk and diversification

How MU has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were MU's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents MU's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means MU fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringMU fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−98.3%−42.7%Jul 2000Nov 20088.3 yearsJan 202213.2 years
No named crash−81.7%+10.9%Sep 1995Jul 199610 monthsFeb 20003.6 years
No named crash−72.1%—Jun 1989Jan 19907 monthsMar 19933.2 years
No named crash−63.3%—Oct 1987Oct 1987Under a monthFeb 19884 months
No named crash−57.6%−6.7%Jun 2024Apr 202510 monthsSep 20255 months

How did MU do in stock market crashes?

This section measures how far MU, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than MU.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
MU This pageMicron Technology, Inc.—−5.3%−49.6%−42.5%−36.6%−8.8%−49.4%−46.5%−2.0%−84.2%−87.8%
SPY S&P 500State Street SPDR S&P 500 ETF9 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
NVDA NVIDIA Corporation3 of 10−5.0%−60.7%−37.5%−55.9%−8.5%−25.3%−23.8%−1.7%−85.1%−89.7%
AMD Advanced Micro Devices, Inc.5 of 10−3.9%−60.1%−34.3%−48.9%−9.9%−40.0%−41.5%0.0%−87.6%−93.3%
DELL Dell Technologies Inc.3 of 5−5.7%−43.6%−45.9%−28.6%−7.4%—————
MRVL Marvell Technology, Inc.7 of 9−12.0%−56.8%−31.6%−26.1%−7.5%−37.6%−23.1%0.0%−74.3%—
TSM Taiwan Semiconductor Manufacturing Company Limited8 of 10−3.9%−54.3%−23.3%−21.4%−9.3%−13.2%−15.7%0.0%−48.0%−82.4%
MSFT Microsoft Corporation9 of 10−2.0%−31.0%−27.7%−18.2%−7.4%−14.4%−14.1%−2.6%−57.9%−62.9%
ADI Analog Devices, Inc.10 of 10−2.6%−22.6%−33.6%−18.1%−7.2%−22.7%−18.6%−1.2%−55.0%−82.0%
LRCX Lam Research Corporation5 of 10−3.3%−55.1%−43.7%−22.9%−9.5%−20.5%−20.1%−2.2%−73.3%−87.9%
KLAC KLA Corporation8 of 10−5.9%−37.6%−33.8%−21.6%−7.5%−13.5%−23.0%−2.8%−71.8%−73.2%
AVGO Broadcom Inc.7 of 8−2.8%−34.3%−46.8%−15.2%−4.5%−21.6%−26.7%0.0%——
AMAT Applied Materials, Inc.6 of 10−3.6%−54.2%−43.6%−26.4%−9.7%−18.8%−24.5%−1.6%−61.7%−82.0%
RMBS Rambus Inc.6 of 10−5.5%−38.7%−43.4%−35.6%−6.8%−28.3%−36.9%−2.2%−79.9%−97.2%
TXN Texas Instruments Incorporated9 of 10−2.6%−21.7%−29.8%−19.5%−9.3%−18.4%−21.6%−1.3%−61.4%−85.4%
QCOM QUALCOMM Incorporated9 of 10−5.6%−41.5%−32.2%−26.8%−6.6%−30.7%−19.2%−0.5%−48.0%−84.9%
NXPI NXP Semiconductors N.V.6 of 7−4.2%−38.8%−52.0%−27.4%−4.0%−35.5%−39.8%———
GFS GLOBALFOUNDRIES Inc.0 of 2−5.1%−50.8%————————
STX Seagate Technology Holdings plc5 of 9−5.2%−54.0%−25.6%−25.4%−8.4%−48.9%−34.8%−0.5%−88.7%—
UMC United Microelectronics Corporation7 of 9−2.0%−51.0%−17.1%−36.2%−4.4%−16.6%−24.9%0.0%−63.0%—
WDC Western Digital Corporation5 of 10−6.8%−52.4%−58.0%−41.8%−6.0%−53.0%−35.4%−1.1%−75.2%−76.5%
SIMO Silicon Motion Technology Corporation4 of 9−7.3%−38.1%−36.8%−40.2%−12.4%−19.2%−30.8%−1.5%−92.4%—
INTC Intel Corp.9 of 10−1.0%−54.1%−33.5%−13.0%−6.7%−19.7%−16.2%−0.9%−55.2%−82.3%
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How closely does MU move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares MU with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than MU's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
MU This pageMicron Technology, Inc.204%114%1.791.75
DELL Dell Technologies Inc.154%43%3.591.13
KLAC KLA Corporation152%59%2.571.32
UMC United Microelectronics Corporation133%52%2.561.33
STX Seagate Technology Holdings plc169%88%1.931.58
AVGO Broadcom Inc.158%86%1.851.19
TSM Taiwan Semiconductor Manufacturing Company Limited138%75%1.841.15
NVDA NVIDIA Corporation248%140%1.771.83
LRCX Lam Research Corporation183%104%1.751.56
AMAT Applied Materials, Inc.152%97%1.581.51
MRVL Marvell Technology, Inc.167%116%1.441.68
AMD Advanced Micro Devices, Inc.254%179%1.422.25
MSFT Microsoft Corporation127%91%1.390.96
RMBS Rambus Inc.124%97%1.281.45
ADI Analog Devices, Inc.117%92%1.261.20
SIMO Silicon Motion Technology Corporation126%116%1.091.41
WDC Western Digital Corporation171%163%1.051.87
TXN Texas Instruments Incorporated113%108%1.041.18
INTC Intel Corp.98%100%0.981.43
QCOM QUALCOMM Incorporated115%139%0.831.51
NXPI NXP Semiconductors N.V.115%157%0.731.63
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What diversifies MU?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with MU's. Because such investments tend not to fall at the same time, pairing MU with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which MU lost money. The last two columns show a portfolio that is 80% MU and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202420222018201520112010200820072004200220012000199780/20 mix volatility80/20 mix annual return
MU Micron Technology, Inc. (this page)1.00+1,244%1.20−1.0%−45.9%−22.8%−59.5%−21.6%−24.1%−63.6%−48.0%−8.3%−68.6%−12.7%−8.7%−10.9%67.9%+72.7%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.17+119%1.48+15.9%+3.8%−5.2%——————————54.7%+64.0%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.36+225%1.34+29.8%+6.0%−19.8%+7.7%−16.1%−1.8%−20.8%−7.4%—————55.3%+66.4%
PJUL Broad MarketInnovator U.S. Equity Power Buffer ETF0.39+64.4%1.20+13.8%−2.1%———————————55.0%+62.1%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.10+101%1.04+33.4%+10.4%−8.7%−25.3%—————————54.7%+63.7%
HDV Dividend & IncomeiShares Core High Dividend ETF0.17+83.3%1.00+14.1%+7.1%−3.0%−0.3%—————————54.9%+62.7%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.41+62.9%0.99+18.8%−5.6%−4.8%+4.7%—————————55.0%+62.1%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.47+85.0%0.96+13.4%−5.1%−9.5%+4.1%—————————55.4%+62.7%
GLD CommoditiesSPDR Gold Shares0.19+126%0.96+26.7%−0.8%−1.9%−10.7%+9.6%+29.3%+4.9%+30.4%—————55.1%+64.5%

Stocks

InvestmentCorrelation5Y returnSharpe202420222018201520112010200820072004200220012000199780/20 mix volatility80/20 mix annual return
MU Micron Technology, Inc. (this page)1.00+1,244%1.20−1.0%−45.9%−22.8%−59.5%−21.6%−24.1%−63.6%−48.0%−8.3%−68.6%−12.7%−8.7%−10.9%67.9%+72.7%
CAH Medical - DistributionCardinal Health, Inc.0.14+479%1.55+19.0%+54.1%−24.5%+12.6%+8.1%+21.4%−39.6%−9.8%−4.7%−8.3%−2.5%+108%+29.1%55.3%+69.8%
CLS Hardware, Equipment & PartsCelestica Inc.0.29+3,143%1.47+215%+1.3%−16.3%−6.0%−24.4%+2.8%−20.5%−25.7%−6.4%−65.1%−25.6%−2.3%—58.8%+85.7%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.27+1,636%1.46+107%+17.0%+0.8%+67.7%−17.0%+8.7%−15.2%+2.1%+40.0%−9.4%+73.7%−71.1%—57.4%+80.9%
MCK Medical - DistributionMcKesson Corporation-0.11+413%1.44+23.7%+51.8%−28.4%−4.5%+11.8%+13.8%−40.4%+29.7%−1.4%−27.2%+4.9%+61.2%+96.3%54.0%+69.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.05+690%1.41−4.0%+86.6%−8.2%+17.4%—————————55.0%+73.2%
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Common questions

What was MU's worst drawdown?

MU's deepest decline since it began trading in 1986 was 98.2%, from July 2000 to November 2008. It took about 13 years from the low to climb back to its old high.

What were MU's best and worst years?

Over 29 full calendar years, MU's best year was 2009, when it returned 301%. Its worst was 2002, with a return of -68.6%.

Is there a better investment than MU?

Few investments have done better on both counts: only two of the 3,633 stocks and funds worth at least $500 million earned more than MU with less volatility over the past 5 years, among them FIX and BELFB.

Is MU more volatile than the S&P 500?

Yes. MU's volatility over the past 5 years was 57.1%, 3.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MU's return lands within 57.1% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is MU's Sharpe ratio?

MU's Sharpe ratio over the past 5 years was 1.20, against 0.79 for the S&P 500, so MU earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is MU with the S&P 500?

Over the past 5 years, MU's monthly returns had a correlation of 0.51 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against MU instead: the lower it is, the more that option would diversify a MU holding.

What are the best alternatives to MU?

None of the 21 popular alternatives we compared outperformed MU in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about MU's strength than about its alternatives.

Did MU outperform the S&P 500?

MU finished ahead of the S&P 500 (SPY) in 14 of 29 full calendar years. In 2025, it returned +240%, against +17.7% for the index.

How did MU do in stock market crashes?

MU fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in nine. The clearest case was the dot-com bust, when MU fell 87.8% and the S&P 500 fell 47.5%.

What diversifies MU?

These had a low correlation with MU over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.17), DXJ (correlation 0.36) and PJUL (correlation 0.39); among large stocks, CAH (correlation 0.14), CLS (correlation 0.29) and FIX (correlation 0.27). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to MU