New York, May 31, 2026, 07:47 (EDT)
Micron Technology traded at record highs this week, with the chipmaker’s market cap moving past $1 trillion. Wall Street pushed up forecasts for Micron after the holiday-shortened week.
Nasdaq didn’t open on May 25 for Memorial Day and U.S. markets are closed again this Sunday. Trading on the Nasdaq picks back up Monday at 9:30 a.m. Eastern time.
Micron finished Friday at $971, gaining 5.14% for the session after reaching $981 earlier. The company’s market cap hit around $1.11 trillion. The stock is among the most obvious gauges of appetite for artificial-intelligence hardware names.
Why now: It’s not just a single good quarter driving the rally. Traders are now betting high-bandwidth memory, or HBM — a type of fast memory stacked near AI chips — is getting scarcer and more strategic for data centers, less like basic commodity DRAM that used to swing with the PC cycle.
UBS got things going this week as analyst Timothy Arcuri hiked his price target on Micron to $1,625 from $535, more than tripling it. The firm pointed to higher AI demand and new long-term supply agreements. Arcuri said there was “no reason” Micron’s shares should trade at a lower price-to-earnings multiple than Nvidia, referencing the metric that compares share price to projected earnings. Reuters
Some firms moved up too. Susquehanna’s Mehdi Hosseini lifted his target on Micron to $1,750 from $600, sticking with a Positive call. He said average selling prices were still solid and “supply is now expected to remain tight through 2027.” Investing.com South Africa
DA Davidson’s Gil Luria boosted his price target on the stock to $1,500 from $1,000, saying memory is no longer just interchangeable as HBM starts getting co-designed with data-center systems and longer contracts come in.
Micron’s next planned update isn’t coming for a few more weeks. The company plans to post its fiscal Q3 numbers after the close on June 24 and will hold its conference call at 2:30 p.m. Mountain time.
Micron’s numbers are running hot. In March, the company posted fiscal Q2 revenue of $23.86 billion, up from $8.05 billion a year ago. CEO Sanjay Mehrotra called memory “a strategic asset” for customers. Micron is guiding for fiscal Q3 revenue of $33.5 billion, give or take $750 million. Micron Technology
Samsung is trying to catch competitors with its new 12-layer HBM4E chip, which it began shipping in sample form to customers on Friday. The move puts more pressure on SK Hynix and Micron. “Early movers tend to secure the bulk of orders,” Jeff Kim at KB Securities-Jefferies said. Counterpoint said SK Hynix had a 57% share of the HBM market in the fourth quarter of 2025, ahead of Samsung at 22% and Micron at 21%. Reuters
SK Hynix pushed past the $1 trillion mark in market value last week, joining Samsung and Micron as AI chips drove up demand and squeezed supply. Mirae Asset’s Kim Young-gun wrote in a report memory-chip demand may run ahead of supply until 2028.
But there isn’t much room for error in the trade. Micron’s own filing points to risks like choppy selling prices, hard competition, and problems shifting capacity to its newest nodes. AI demand might fall short or fade. Any hit to HBM demand, customer orders, or Samsung’s progress on qualification could squeeze margins and the stock.
Micron could see trading this week driven more by positioning than fresh company data. Options pricing picked up by Investopedia pointed to traders expecting a swing of around 10% in either direction through the end of next week. The stock finished Friday well ahead of the average analyst target from Visible Alpha.
