ADVANCED MICRO DEVICES INC vs Micron Technology, Inc., two Semiconductors stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The balance sheets are twins, debt-to-equity of 0.05 and 0.01, current ratios of 2.7 and 3.4, two companies that could each survive a long winter. The income statements are from different planets: Micron, at the top of a memory cycle, prints an 80.4% operating margin and 55.9% net, while AMD earns 14.4% and 13.4% as it spends its way into the accelerator fight. The market inverts the earnings ranking with its wallet, 170.6 times AMD's modest profits against 25.6 times Micron's enormous ones. Priced into that gap is a complete theory of semiconductors: that AMD's earnings are early and Micron's are peak. Both can be true; the multiples require at least one of them to be.
Comparison updated 2026-07-10.
| Metric | AMD | MU |
|---|---|---|
| Price | $520.20 | $1129.73 |
| Market cap | $858.3B | $1.29T |
| Sector | Semiconductors | Semiconductors |
| Stage | Mature | Growth |
| Implied growth (priced in) | — | +35.4% |
| P/E | 170.6 | 25.6 |
| P/B | 13.32 | 12.84 |
| P/S | 22.92 | 14.33 |
| EV/EBITDA | 196.1 | 18.6 |
| Revenue growth | +34.8% | +161.2% |
| Gross margin | 52.8% | 84.6% |
| Operating margin | 14.4% | 80.4% |
| Net margin | 13.4% | 55.9% |
| Return on equity | 7.8% | 50.1% |
| Return on assets | 6.3% | 37.6% |
| Return on invested capital | 5.1% | 46.2% |
| FCF yield | 1.0% | 2.0% |
| Dividend yield | — | 0.0% |
| Debt / equity | 0.05 | 0.01 |
| Current ratio | 2.72 | 3.42 |
| Altman Z (solvency) | 6.95 | 8.90 |
| Piotroski F (quality) | 6 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.