New York, Jan 11, 2026, 11:13 AM EST — Market closed
- Micron surged 5.5% on Friday, pushing its chip-sector rally into early 2026 territory
- Mizuho raised its price target to $390 while maintaining an Outperform rating
- Traders will be watching for follow-through moves on Monday and any updates on memory chip pricing
Micron Technology (MU.O) jumped 5.5%, closing Friday at $345.09 following a price target boost from Mizuho. The iShares Semiconductor ETF also climbed 2.9%, highlighting widespread gains ahead of the weekend. 1
This shift is significant since Micron is now a key barometer for data-center demand and memory prices. Friday’s surge tightens the margin for any letdown when upcoming reports arrive. With U.S. markets closed Sunday, Monday’s open will reveal if buyers continue pushing or start cashing out.
Micron stands as one of the rare suppliers of high-bandwidth memory, or HBM — those stacked chips that rapidly deliver data to AI accelerators. This specialized niche has squeezed supply and made the stock’s movements more volatile whenever analysts revise their 2026 forecasts.
Mizuho’s Vijay Rakesh raised his price target to $390 from $290, maintaining an Outperform rating. He pointed to “attractive valuations” in semiconductors, though he expects growth to be slower than last year. 1
Micron’s shares fluctuated Friday from $326.41 up to $345.75, reflecting the mixed mood among investors: eager on memory but cautious at the same time. Trading volume hovered around 33 million shares.
The company’s positive outlook from its previous earnings report remains in focus. Micron highlighted strong AI-driven demand and revealed plans to boost its 2026 capital spending to roughly $20 billion. 2
Investors are zeroing in on a straightforward yet uneasy question: will spot prices and contract negotiations for DRAM and HBM continue trending upward? On top of that, can major cloud clients maintain their pace on 2026 server expansions?
The risk remains the same, just repackaged. Memory markets move in cycles, and a sharp drop in AI hardware orders—or rivals ramping up supply faster than anticipated—can quickly squeeze prices and margins, even when overall demand looks solid.
Traders will also watch how Micron performs as its next cash dividend approaches, scheduled for payment on Jan. 14. 3
