Micron Technology Analyzed as Preferred Semiconductor Investment

Micron (MU) and ASML (ASML) are compared as semiconductor investments, with Micron's analysis suggesting preference. On the Micron options market, 380,460 contracts were traded, and the open interest is 2,570,000.

MU emerged as the preferred semiconductor pick in a head-to-head analyst comparison with ASML, drawing substantial options market activity on April 7 — 380,460 contracts traded with 2.57 million open interest. That outsized volume signals investor attention on a stock that set an all-time high of $471.25 following record Q2 2026 earnings before pulling back to the $370s range amid broader market volatility.

The bullish case hinges on Micron's commanding position in AI memory. The company's entire 2026 HBM (High Bandwidth Memory) supply is fully sold out under non-cancellable contracts, with CEO Sanjay Mehrotra having locked in pricing and volume agreements through year-end — including next-generation HBM4 ramps beginning in Q2 2026. Quarterly revenue reached a record $23.86 billion, surpassing analyst expectations. Wall Street consensus stands at 15 Strong Buy, 29 Buy, and just 3 Hold ratings, with an average price target of $463.71, suggesting roughly 25% upside from current levels .

Analysts note the divergent risk profiles between the two names: MU offers higher near-term AI-driven growth with greater cyclical exposure to memory pricing cycles, while ASML delivers steadier compounding as the monopoly supplier of EUV lithography equipment . One analysis has floated a path to a $1 trillion market cap for Micron — a move that would require roughly 2.5x appreciation from current levels. The key variables to watch: sustained AI infrastructure spending and the trajectory of US-China trade policy, which directly affects both memory demand and Micron's access to its largest international market.