New York, Feb 8, 2026, 10:44 EST — The final bell has sounded; markets are shut.
- Micron Technology finished Friday up roughly 3%, ending the session at $394.69.
- UBS bumped its price target up to $450, pointing to memory shortages that it says could drag on through 2027.
- Traders are sizing up that bullish outlook, with a separate report raising concerns over HBM4 order risk linked to Nvidia.
Micron Technology, Inc. closed Friday at $394.69, up roughly 3%. Shares bounced from $371.27 to $401.50 during a busy session, with volume reaching 37.2 million shares.
Sunday’s a pause for markets, though Micron remains firmly in Monday’s spotlight. The stock is wedged between two chip narratives: the surge in AI infrastructure investment, and an ongoing battle over the top supplier spot for high-margin memory components.
Micron’s stock now acts as a kind of AI buildout bellwether, and these bellwethers can swing sharply when sentiment turns—even if there’s barely any shift in the company’s actual fundamentals from one weekend to the next.
Chip stocks rallied Friday. Nvidia surged close to 8%. Both the iShares Semiconductor ETF and VanEck Semiconductor ETF climbed roughly 5%, beating the gains in the Nasdaq-100 tracker.
UBS’s Timothy Arcuri bumped his Micron price target up to $450 from $400, sticking with his buy call. Arcuri cited recent channel checks, which suggest memory supply could stay tight longer than most investors are betting. “Our industry conversations now point to memory supply shortages extending deeper into 2027,” he wrote. DRAM could stay constrained through the end of 2027, with NAND supply tight until the first quarter of that year. Arcuri also noted that AI accelerator makers are pivoting toward broader, “three-supplier” sourcing. (Barron’s)
In a shift from the consensus, research group Semianalysis is now projecting Micron will have no share at all in Nvidia’s upcoming HBM4 memory orders. Their analysts say there’s no evidence Nvidia is sourcing HBM4 from Micron, and instead, they anticipate SK Hynix and Samsung carving up the supply. (Investing.com)
HBM, or high-bandwidth memory, stacks DRAM right next to AI chips to push data at high speed. The margins are huge—few products match them. That’s why every “design win” or supply slot grabs attention and gets traded on like an earnings release.
Markets are still wrestling with how to value the heavy AI spending spree. Amazon, for one, set a $200 billion capital outlay for this year, which rattled investors and sent shares lower—rekindling questions about whether such outlays will pay off. “The magnitude of the spend is materially greater than consensus expected,” MoffettNathanson analysts noted. (Reuters)
Micron’s got a tug-of-war on its hands heading into the week. On one side: hyperscalers are ramping up budgets, potentially sending memory and storage demand higher. On the other, investors are starting to ask how far this spending spree can really go before cash flow comes back into focus.
The risk isn’t hard to spot. Should HBM4 adoption stall, Micron’s AI revenue mix might end up below bullish forecasts. And if steep prices weigh on PCs and smartphones, memory demand could retreat quickly—a familiar boom-and-bust cycle for this industry.
Next session, traders are eyeing whether semis can hang onto Friday’s bounce. Follow-up checks—memory pricing, lead times, hyperscaler orders—could either firm up that “shortage into 2027” view or bring HBM4 skepticism right back into play.
Macro influences linger out of sight. The U.S. jobs report lands Feb. 11, with January CPI following on Feb. 13—numbers that could shake up rate bets and, by proxy, demand for high-multiple chip stocks. (Bureau of Labor Statistics)
Micron’s latest quarterly update is on deck for around March 19, per Nasdaq’s earnings calendar. (nasdaq.com)
