- Micron stock surged 253.9% year-to-date against NVIDIA‘s 20.7% gain, flipping the valuation debate between the two AI chip giants.
- Nvidia’s data center revenue hit a record $75.2 billion in fiscal Q1 2027, up 92% year over year, while demand for AI infrastructure goes parabolic.
- Micron sold out its HBM memory capacity through 2027, with fiscal Q3 2026 revenue jumping 346% year over year to $41.5 billion and gross margins near 85%.
- Zacks Investment Research rates Micron a Strong Buy at 13.7 times forward earnings, while Nvidia trades at 24.76 times and is rated a Hold ahead of its Aug. 26 earnings report.
The debate between Nvidia and Micron now hinges on growth versus price, with Nvidia commanding roughly 25 times forward earnings while Micron trades much cheaper after a 253.9% stock surge this year. Zacks Investment Research reports that Micron jumped 253.9% in 2026 against Nvidia’s 20.7% gain, placing the valuation gap at the center of the Nvidia stock versus Micron stock question.
Nvidia’s data center sales reached $75.2 billion in the fiscal first quarter of 2027, a 92% year-over-year increase, and total revenue hit a record $81.6 billion up 85%. “This was an extraordinary quarter,” said founder and CEO Jensen Huang. “Demand has gone parabolic.” Consequently, Nvidia guided to roughly $91 billion in revenue for its fiscal second quarter, with results due Aug. 26.
Meanwhile, Micron pulled in $41.5 billion in fiscal third quarter 2026 revenue, up 74% sequentially and 346% from a year earlier, with gross margin near 85% and HBM chips already sold out through 2027. “Tight conditions will persist beyond calendar 2027,” said Sanjay Mehrotra, chairman, president and CEO of Micron Technology, tying the shortage to AI demand. That scarcity has lifted Micron’s own revenue forecast to $50 billion for its fiscal fourth quarter.
Zacks Investment Research ranks Micron a Strong Buy at roughly 13.7 times forward earnings versus Nvidia’s 24.76 times, and analyst Harsh Chauhan pegs Micron’s multiple even lower near 6 times earnings with profits expected to jump 111% in fiscal 2027. Nvidia’s Aug. 26 report will likely move both stocks, since Micron’s HBM business hinges on Nvidia’s Vera Rubin GPU roadmap. The Nvidia versus Micron trade will keep turning on how much of the valuation gap closes once those numbers arrive.
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