New York, Jan 7, 2026, 10:19 (EST) — Regular session
- Micron set a Jan. 16 groundbreaking for its New York megafab project
- Shares fell about 1% after a sharp rally in memory and storage stocks a day earlier
- Traders are watching Friday’s U.S. jobs report and Micron’s next earnings update in March
Micron Technology said it will break ground on its New York “megafab” on Jan. 16, moving a $100 billion project closer to construction after permits and environmental reviews. Micron shares were down 1.2% at $339.23 in morning trade. “Breaking ground at Micron’s New York megafab is a pivotal moment for Micron and the United States,” Chief Executive Sanjay Mehrotra said. 1
The update matters for Micron stock because it puts a date on a long-planned U.S. manufacturing buildout at a moment when investors have been pricing in tight supply for advanced memory. A “fab” is a semiconductor factory, and a megafab usually means several of them on one site.
Wall Street’s case for Micron has leaned on a simple setup: higher memory prices and a scarce supply of the chips used in data centers. FactSet forecasts call for 93% revenue growth in Micron’s fiscal 2026, which ends in August, MarketWatch reported, and the stock’s forward price-to-earnings multiple sits at about 9.2 by that measure. The same report said rivals Samsung Electronics and SK Hynix were also benefiting from the pricing cycle.
Micron’s shares had surged about 10% on Tuesday as storage and memory names ripped higher after Nvidia’s CEO spoke at the CES tech show in Las Vegas, Reuters reported. SanDisk jumped more than 27% in that session, Reuters said, in a rally that pushed several sector stocks to record highs.
Investors also had fresh insider paperwork to parse. A Form 4 filing showed Micron executive Michael D. Cordano disposed of 6,058 shares at $285.41 to cover tax-withholding obligations tied to vesting awards, while a separate Form 144 showed Scott Allen filed notice of a proposed sale of 2,000 shares. 2
Beyond Micron-specific headlines, traders have been bracing for U.S. labor data that can swing rate expectations, a big input for tech valuations. Investors are watching December’s nonfarm payrolls report due later this week, Reuters reported.
But the New York build is not a straight-line positive. A project of that scale can run into cost inflation, schedule slippage and shifting demand, and memory remains a cyclical business that can turn quickly if buyers pause or supply loosens.
