Micron Technology Long-Lived Assets Distribution By Country

Micron's long-lived assets are reported by region for FY2014–FY2026, in dollars, mix and growth, which traces how the geographic footprint of its asset base has moved through a build-out, a plateau and a renewed expansion. Malaysia and India are reported separately only from FY2020 and FY2023 respectively.

• Expansion in Three Phases: Total long-lived assets grew at a 26.6% annual rate from FY2014 to FY2019, slowed to 8.1% from FY2019 to FY2023, a stretch that included the only decline in the series (-1.6% in FY2023), and have re-accelerated to 18.4% a year since, with growth of 4.7%, 17.2% and 35.3% in FY2024–FY2026. The FY2026 increase of $16,705M is the largest in the series and the fastest growth since FY2016 (39.2%).

• Taiwan as the Anchor: Taiwan overtook Singapore in FY2017 on growth of 213.3%, a $4,438M increase, held a 32.3%–35.0% share through FY2024 and has since risen to 40.1% and 43.1%, a series high. It supplied 51.8% of the FY2026 increase, so the concentration of the asset base in a single location is now its defining feature.

• U.S. Re-Investment After a Long Plateau: The U.S. share fell from 37.8% in FY2014 to 13.1% in FY2022 because U.S. dollars barely moved between FY2018 ($5,113M) and FY2023 ($5,196M) while the rest of the footprint grew. Since then U.S. assets have risen to $14,463M (71.3% in FY2026, 2.8x the FY2023 level), lifting the share to 22.6% and moving the U.S. past Singapore into second place. It supplied 36.0% of the FY2026 increase.

• Singapore and Japan: Plateau and Share Loss: Singapore reached $12,045M in FY2022, dipped to $10,588M in FY2024 and stands at $12,345M in FY2026, only 2.5% above its FY2022 level, while Japan has stayed between $7,038M and $7,323M since FY2021. Their combined share fell from 48.0% in FY2021 to 30.6% in FY2026, and together they supplied only 11.3% of the FY2026 increase.

• Reporting Changes in India and Other: India first appears at $277M in FY2023, the year Other drops from $337M to $70M, which suggests that India was previously included in Other; trends in Other before FY2023 are therefore not comparable with later years. India's FY2026 growth of 35.6% is a $160M increase, a small-base effect rather than a shift in the footprint.

• Smaller Locations Contribute Little: Malaysia has held between $1,124M and $1,184M since FY2023, and China is the only region that shrank in FY2026 (-13.1%), with its share down from 3.3% in FY2016 to 0.7%. Malaysia, China, India and Other together hold 3.7% of FY2026 assets and supplied 0.9% of the increase.

• Structural Takeaway & Trend: Structurally, Micron's long-lived assets are concentrated in two locations: Taiwan and the U.S. now hold 65.7% of the base, up from 48.1% in FY2021, and supplied 87.8% of the FY2026 increase. Singapore and Japan, once the core of the footprint, have plateaued in dollars and lost share, while the smaller locations are immaterial to the total and sensitive to reporting changes. Aggregate growth also masks sharply different regional paths: FY2026 growth ranged from -13.1% in China to 71.3% in the U.S. The concentration cuts both ways: it points to focused capital deployment, but it also leaves the asset base more concentrated in a single location than at any earlier point in the series.

  The trend is changing. Growth has stepped up from 8.1% a year between FY2019 and FY2023 to 18.4% since, Taiwan's share has moved out of its 32.3%–35.0% band, and the U.S. share has recovered from 13.1% in FY2022 to 22.6%. The earlier surge of 39.2% and 32.3% in FY2016–FY2017 was followed by growth of 21.8%, 19.3% and 12.0%, which suggests that growth should settle below the FY2026 rate of 35.3%, while the mix keeps tilting toward Taiwan and the U.S. for as long as Singapore and Japan stay flat. A Taiwan share that holds above its earlier 35.0% ceiling would confirm the concentration, while Japan breaking out of its $7,038M–$7,323M range or stronger growth in Singapore would point to a broader expansion. The dataset shows where assets are located, not what they are used for, so it cannot separate new capacity from other assets.