Micron Technology Revenue Breakdown By Segment

Data center. Pexels Image.

This page explores Micron Technology’s revenue breakdown by segment. Micron’s segments consist of the following business units:

New Grouping

• Cloud Memory Business Unit (“CMBU”)
• Core Data Center Business Unit (“CDBU”)
• Mobile and Client Business Unit (“MCBU”)
• Automotive and Embedded Business Unit (“AEBU”)
• Others

Legacy Grouping

• Compute and Networking Business Unit (“CNBU”)
• Mobile Business Unit (“MBU”)
• Storage Business Unit (“SBU”)
• Embedded Business Unit (“EBU”)
• Others

Let’s look at the revenue results.

For other key statistics of Micron Technology, you may find more resources on this page: Micron key stats.

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Definitions of new segments

To help readers understand the content better, the following terms and glossaries have been provided.

Cloud Memory Business Unit (“CMBU”):

CMBU is focused on memory solutions for large hyperscale cloud customers, and HBM for all data center customers. In addition to HBM, CMBU sales include DDR, LPDDR, and GDDR.

Core Data Center Business Unit (“CDBU”):

CDBU is focused on memory solutions for mid-tier cloud, enterprise, and OEM data center customers and storage solutions for all data center customers, including data center SSDs and NAND components.

Mobile and Client Business Unit (“MCBU”):

MCBU is focused on memory and storage solutions for the mobile and client segments. Additionally, MCBU sales include our Crucial-branded SSDs and DRAM sold to the consumer market and component DRAM and NAND sales of TLC and QLC.

Automotive and Embedded Business Unit (“AEBU”):

AEBU is focused on memory and storage solutions for the automotive, industrial, and consumer segments sold into the intelligent edge, including discrete and module DRAM, discrete NAND, managed NAND, SSDs, and NOR. The intelligent edge refers to the continually growing set of connected systems and devices where data is analyzed and aggregated closest to where it is captured. Intelligent devices, those using AI for inference at the edge, are now more self-contained and do not need to connect to the cloud to run their algorithms.

Definitions of legacy segments

Compute and Networking Business Unit (“CNBU”):

CNBU includes memory products and solutions sold into the data center, PC, graphics, and networking markets including HBM, DDR, LPDRAM and GDDR, as well as some emerging memory technologies like compute express link (“CXL”) and multi-ranked dual in-line memory module (“MRDIMM”).

Mobile Business Unit (“MBU”):

MBU includes memory and storage products sold into the smartphone and other mobile-device markets including discrete NAND, DRAM, and managed NAND products. MBU offers a comprehensive portfolio of MCPs and managed NAND, including products which combine eMMC/UFS solutions with LPDRAM, along with a suite of unique firmware features designed for next-generation smartphones and to accelerate AI applications in the mobile market.

Storage Business Unit (“SBU”):

SBU includes SSDs and component-level storage solutions sold into the data center, PC, and consumer markets. The data center market includes enterprise and cloud SSDs and enterprise NAND components while the PC market consists of client SSDs. Additionally, SBU sales include NAND components and our Crucial-branded SSDs sold to the consumer market.

Embedded Business Unit (“EBU”):

EBU includes memory and storage products and solutions sold into the intelligent edge through the automotive, industrial, and consumer embedded markets including discrete and module DRAM, discrete NAND, managed NAND, SSDs, and NOR. The intelligent edge refers to the continually growing set of connected systems and devices where data is analyzed and aggregated closest to where it is captured.

Intelligent devices, those using AI for inference at the edge, are now more self-contained and do not need to connect to the cloud to run their algorithms.

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Insight & Summary of Micron’s Revenue Breakdown by Segment

Micron’s revenue has grown explosively across both the current and legacy segment structures, but the composition of that growth has shifted dramatically — with the New Grouping showing CMBU’s extraordinary rise to segment leadership, while the Legacy Grouping reveals a business that has weathered severe multi-year cyclicality before its recent sharp recovery.

• CMBU Has Grown From Micron’s Smallest New-Grouping Segment to Its Largest in Just Two Years CMBU’s revenue mix grew from just 12.0% (2023) to 36.2% by 2025 — overtaking MCBU, which fell from 47.6% to 31.7% over the same period — meaning the two segments effectively swapped positions as Micron’s largest and smallest business lines within only two fiscal years. CMBU’s dollar growth was equally dramatic: from $1,872 million to $13,524 million, a more than sevenfold increase, with 2025 alone showing 256.6% year-over-year growth — the strongest growth rate of any segment in the New Grouping across either year shown.

• MCBU Growth Has Nearly Stalled Even as Its Mix Share Declines Sharply MCBU’s revenue grew only 1.6% in 2025, following 57.8% growth in 2024 — a dramatic deceleration for what was Micron’s largest segment as recently as 2024. Combined with its mix share falling from 47.6% to 31.7% over the two-year period, MCBU’s trajectory stands in sharp contrast to CMBU’s continued acceleration, marking a genuine shift in where Micron’s growth is concentrated within the New Grouping.

• The Legacy Grouping Reveals a History of Severe Multi-Year Cyclicality, With 2023 Marking the Deepest Trough Total Segment revenue under the Legacy Grouping swung from a peak of $30,758 million (2022) down to just $15,540 million (2023) — a decline of nearly 50% in a single year — before rebounding sharply to $25,111 million by 2024. Every individual legacy segment shared in this same 2023 collapse, with CNBU falling 58.3%, MBU falling 50.0%, and SBU falling 43.9% that year alone, confirming this was a broad, segment-wide downturn rather than weakness concentrated in any one business line.

• CNBU Has Been Micron’s Largest Legacy Segment Throughout, Though Its Share Has Moderated From Its 2018 Peak CNBU’s mix share peaked at 50.2% in 2018 before settling into a more moderate 36.7%-44.5% range through the remainder of the period, ending at 37.9% by 2024. Despite this moderation, CNBU has remained the single largest legacy segment in every year shown without exception, reinforcing its position as the core of Micron’s historical business even as the relative concentration has eased somewhat from its peak.

• Structural Takeaway: Micron’s revenue story across both groupings is one of severe cyclicality followed by a sharp, uneven recovery — visible in the Legacy Grouping’s 2023 trough and rebound, and now taking a new form in the New Grouping’s rapid reshuffling of segment leadership from MCBU toward CMBU. Given CMBU’s 256.6% growth in 2025 shows no sign of decelerating the way MCBU’s growth has, and given the Legacy Grouping’s 2024 recovery (61.6% total growth) demonstrates how quickly this business can rebound from a downturn, the trend worth monitoring going forward is whether CMBU’s rise represents a durable structural shift in Micron’s business mix, or whether it eventually faces the same kind of sharp reversal that characterized MCBU’s own trajectory and the broader legacy segments’ 2023 collapse.

The table below combines all key Micron’s segment revenue etrics into a single view for the latest three fiscal years.

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Revenue breakdown by segment (new grouping)

Micron’s new segment definition is available here: new segments.

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Revenue mix by segment (new grouping)

Micron’s new segment definition is available here: new segments.

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Revenue growth by segment (new grouping)

Micron’s new segment definition is available here: new segments.

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Revenue breakdown by segment (legacy grouping)

Micron’s legacy segment definition is available here: legacy segments.

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Revenue mix by segment (legacy grouping)

Micron’s legacy segment definition is available here: legacy segments.

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Revenue growth by segment (legacy grouping)

Micron’s legacy segment definition is available here: legacy segments.

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References and Credits

1. All financial figures presented were obtained and referenced from Micron’s quarterly and annual reports published on the company’s investor relations page: Micron investor relations.

2. Pexels Images.

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Disclosure

We may use artificial intelligence (AI) tools to assist us in writing some of the text in this article. However, the data is directly obtained from original sources (usually the quarterly and annual reports) and meticulously cross-checked by our editors multiple times to ensure its accuracy and reliability.

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