New York, Jan 6, 2026, 16:12 EST — After-hours
- Micron was up about 10% near the end of the regular session as memory and storage names rallied.
- Nvidia CEO Jensen Huang’s CES remarks helped lift chip stocks, with several memory-linked shares touching record highs.
- Traders are watching Jan. 9 U.S. payrolls data and near-term memory price signals for the next move.
Micron Technology (MU.O) shares were up 10.1% at $343.72 near the end of the regular session on Tuesday. The stock traded between $314.83 and $344.30, with about 44 million shares changing hands.
The move came as memory and storage technology stocks rallied after Nvidia CEO Jensen Huang, speaking at the Consumer Electronics Show in Las Vegas, described what Reuters called a new layer of storage technology. The PHLX semiconductor index, which tracks U.S.-listed chipmakers, hit an all-time high and was up about 8% in the first three trading sessions of 2026. “We’re going to have a very strong earnings season for Big Tech,” said Jed Ellerbroek, a portfolio manager at Argent Capital. 1
The rally has tracked tightening supply and sharply higher memory prices as suppliers steer capacity toward high-bandwidth memory (HBM) — stacked dynamic random-access memory (DRAM) used alongside AI processors in data centers. TrendForce said prices for a type of DDR5 DRAM, the latest generation used in servers and PCs, jumped 314% in the fourth quarter from a year earlier and forecast conventional DRAM contract prices would rise 55% to 60% this quarter. “As conventional DRAM prices continue to surge,” TrendForce analyst Avril Wu said, suppliers weighted to that segment stand to gain more from the current upswing. 2
A Reuters report on Monday said a global supply crunch driven by AI infrastructure demand has pulled memory makers toward HBM production, squeezing supply for other products such as flash chips used in smartphones and USB drives. Samsung co-CEO TM Roh called the shortage “unprecedented” in an interview with Reuters, while Micron’s stock gained about 240% in 2025. 3
Micron has already flagged a sharp step-up in profitability. In December, the Boise, Idaho-based company guided for fiscal second-quarter revenue of $18.70 billion plus or minus $400 million and adjusted profit per share of $8.42 plus or minus $0.20, and CEO Sanjay Mehrotra said the outlook reflects “substantial records” across key metrics. Micron also declared a quarterly dividend of $0.115 a share, payable on Jan. 14. 4
But the memory business is cyclical, and price spikes can cool demand or prompt customers to run down inventories, particularly in PCs and smartphones. A quicker-than-expected supply response, or signs that contract negotiations are turning, could pressure prices and margins after the stock’s fast run.
Macro data is another near-term swing factor for chip stocks as investors recalibrate expectations for U.S. interest rates. The Labor Department’s employment report for December is due at 8:30 a.m. ET on Friday, Jan. 9. 5
In the spot market, some daily DRAM indicators edged higher, with DDR5 16Gb prices up about 1.7% in the latest session, DRAMeXchange data showed. Traders will be watching whether contract pricing follows spot gains as chipmakers and customers lock in volumes. 6
Micron investors are now looking for any fresh disclosures on HBM supply commitments and capital spending as earnings season approaches. Friday’s U.S. jobs report is the next clear test for the rally.
