Micron vs. NVIDIA: Which AI Stock Is the Better Buy After Earnings?

MU trades at a forward P/E of 5.18 against 23.93 for NVDA, and Zacks Investment Research argues that valuation gap makes Micron the better AI-infrastructure buy after earnings.

Both names are posting strong revenue growth and expanding margins on AI infrastructure demand. MU's fiscal 2026 revenue reached $133.19 billion. NVDA's Data Center revenue jumped 117% to $89 billion.

The balance sheet comparison also favors MU. Its debt-to-equity ratio sits at 3.3%, versus 14.1% for NVDA. Zacks frames MU as evolving into a vital AI infrastructure supplier and sees potential for sustained growth from that position.

Interpretation: the argument rests on price paid per dollar of earnings and on leverage, not on faster growth. NVDA's 117% Data Center surge is the stronger growth headline in the source, so the case for MU is a relative-value call. A forward P/E near 5 suggests the market is pricing MU with far less growth durability than NVDA, and Zacks is betting that discount narrows.