Exhibit 4.8
                            Micron Technology, Inc.
                              MQD Stock Bonus Plan


     In connection with the merger of Micron Quantum Devices, Inc. ("MQD")
into Micron Technology, Inc. ("MTI") on February 18, 1998 (the "Merger"), the
Board of Directors of MTI (the "Board") approved a $3.75 million Flash Product
Group Incentive Program for key employees of MQD. As part of that program, the
Board agreed to issue 55% of the aggregate program amount in the form of MTI
Common Stock. This "MQD Stock Bonus Plan" (the "Plan") sets forth the
guidelines for issuing such stock.

     1.   The purpose of the Plan is to retain key personnel from MQD and
          thereby promote the success of MTI.

     2.   70,645 shares of MTI Common Stock, $0.10 par value, are reserved for
          issuance under this Plan. The number of shares reserved for issuance
          under this Plan, as well as the number of shares which may be earned
          by each Eligible Employee, shall be proportionately adjusted in the
          event of a stock split, reverse stock split, stock dividend or
          similar transaction in which there is an increase or decrease in the
          number of issued shares of MTI Common Stock without receipt of
          consideration by MTI.

     3.   Certain individuals who have been identified by the Board and who
          were employees of MQD prior to the Merger and are currently
          employees of MTI are eligible to participate in this Plan. These
          employees are collectively referred to herein as the "Eligible
          Employees."

     4.   Stock awards pursuant to the Plan are contingent upon the
          achievement of various milestone goals established by the Vice
          President of Flash Memory Products and the Chief Executive Officer
          of MTI. Such milestones and the pay-out dates related thereto, as
          well as the specific terms of each award made pursuant to this Plan
          shall be delivered to each Eligible Employee in the form of a memo
          from the Vice President of Flash Memory Products of MTI.

     5.   Eligible Employees must be employed by MTI on an actual pay-out date
          to receive shares granted pursuant to the Plan. In the event that an
          eligible employee is not employed by MTI on a pay-out date, the
          shares to which he or she was otherwise entitled to may be
          reallocated by Vice President of Flash Memory Products and the Chief
          Executive Officer of MTI to the other Eligible Employees as the
          Board shall determine in its absolute discretion.

     6.   Until the shares of MTI Common Stock are issued to an Eligible
          Employee (as evidenced by the appropriate entry on the books of the
          Company or of a duly authorized transfer agent of the Company), no
          right to vote or receive dividends or any other rights as a
          shareholder shall exist with respect to such shares. Once shares of
          MTI Common Stock are issued to an Eligible Employee, he or she shall
          have all the rights of a shareholder of the Company. No adjustment
          shall be made for a dividend or other right for which the record
          date is prior to the date of such issuance, except as provided in
          Section 2 above.


     7.   In the event of a merger of MTI with or into another corporation, or
          the sale of substantially all of MTI's assets, each Eligible
          Employee's rights to acquire shares of MTI Common Stock hereunder
          shall be assumed or an equivalent right substituted by the successor
          corporation or its parent or subsidiary corporation.

     8.   Issuance of shares pursuant to the Plan is subject to the
          profitability of MTI in the fiscal quarter ended immediately prior
          to the scheduled pay-out date. In the event that shares are not
          issued because of a lack of profitability, then the actual pay-out
          date will be following the first profitable quarter which ends after
          the initially scheduled pay-out date.

     9.   The Plan shall be administered by the Board or a committee thereof.
          The Board shall have the sole authority and discretion to interpret
          the provisions of the Plan and to make all determinations necessary
          or advisable to administer the Plan. The Board's decisions,
          determinations and interpretations regarding the Plan shall be final
          and binding upon all Eligible Employees.

     10.  The rights granted to Eligible Employees hereunder to acquire shares
          of MTI Common Stock may not be sold, pledged, assigned,
          hypothecated, transferred, or disposed of in any manner, other than
          by will or by the laws of descent or distribution.

     11.  The Plan is subject to change or cancellation at any time by the
          Board.

     12.  Shares shall not be issued pursuant to the Plan unless the issuance
          and delivery of such shares complies with all applicable laws and
          the requirements of any stock exchange or quotation system upon
          which the Shares may be listed or quoted.