The Arduino Micro is a Leonardo with all of the empty space squeezed out. It has the same specs, but of course shields won't plug in to the Micro. It was designed for breadboard use. With 12 analog inputs, it can be a very useful device for monitoring sensors or data logging.
A size comparison of the four small form factor Arduino boards is helpful to see where the Arduino Micro fits in the tiny Arduino board lineup. The Arduino Micro is actually the largest of the small boards, and is the most capable, having the full compliment of Leonardo features.
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