ASX:NXG News 5 January 2026

January 27, 2026, 7:55 AM EST. Micron Technology (MU) has surged over 40% in early 2026, driven by memory-chip shortages and rising prices amid the ongoing AI demand. The stock gained 239% in 2025, nearly topping the S&P 500, and has climbed more than 150% since a September breakout. Industry tightness continues with Intel and others citing supply constraints. Micron is expanding production with a $100 billion memory facility planned in New York, aiming for 2030 output. With a forward price-to-earnings ratio of 12 signaling undervaluation, analysts see potential for the share price to rise 50% to $600 by the end of 2026 amid sustained demand and pricing power.