New York, Jan 23, 2026, 09:33 EST — Regular session
- Micron shares rose roughly 2% in early trading following William Blair’s “Outperform” initiation
- A Form 144 revealed EVP Manish Bhatia intends to offload 26,623 shares, valued at roughly $10.4 million
- Attention remains on AI-fueled demand for high-bandwidth memory and the upcoming earnings report
Micron Technology shares jumped roughly 2.2% to $397.58 in early Friday trading. The boost came after William Blair kicked off coverage with an “Outperform” rating, citing a “memory supercycle” driven by AI infrastructure investment. 1
The latest call comes as investors flock back to memory-chip makers, wagering that data-center demand will hold firm despite a broader slowdown in the chip market. Micron’s shares have almost quadrupled over the past 12 months, standing out as a top momentum play and heightening the impact of any changes in pricing or supply cues. 2
Micron produces DRAM and NAND memory and has expanded its footprint in high-bandwidth memory (HBM) — the stacked chips paired with AI processors to accelerate data processing. It’s one of only three main global HBM suppliers, alongside Samsung Electronics and SK Hynix. 3
Capacity—and the speed at which it ramps up—remains the key question. On Jan. 17, Micron announced it signed a letter of intent to acquire Powerchip Semiconductor Manufacturing’s Tongluo facility in Taiwan for $1.8 billion in cash, alongside plans for a strategic partnership with PSMC. Production at the site is slated to begin later, but significant output won’t arrive until 2027. 4
Investors took note of a minor governance detail buried in the filings. A Form 144 filed on Jan. 22 revealed that Manish Bhatia, Micron’s executive vice president of global operations, intended to sell 26,623 Micron shares. The total market value of those shares was around $10.41 million. 5
In a separate filing on Jan. 21, the SEC reported that Micron’s shareholders approved a charter amendment limiting certain officers’ personal liability for monetary damages linked to duty-of-care breaches. The change took effect that same day, Jan. 21.
The stock move is the simple part. The real challenge lies ahead: will Wall Street continue to boost targets after a rally that’s already baked in plenty of good news? And will memory pricing hold steady as customers haggle over 2026 supply?
Micron maintains that the market remains tight. In its latest quarterly update, the company highlighted robust industry demand paired with supply constraints as the main factors sustaining tight conditions. It also forecasted that these pressures would continue past calendar 2026. Additionally, Micron pointed to ongoing progress in talks over multiyear contracts. 6
The industry’s track record casts a long shadow on the trade. Memory cycles back around, and a supply boost from Micron or competitors can slam prices fast. Plus, any dip in data-center spending would slam the most bullish HBM forecasts right away.
The next major trigger will come with Micron’s upcoming earnings, slated for around March 18, per Yahoo Finance’s calendar. Investors will be focused on any news about the HBM ramp, pricing updates, and capital expenditure plans. 7
