Micron Technology (MU) Stock Soars on $9.6 Billion Japan AI Memory Plant, Analyst Upgrades and Record Earnings
Micron Technology will invest about $9.6 billion in a new AI-focused memory plant in western Japan, expanding its capacity for high-bandwidth memory chips. Shares closed at $236.48 Friday, up 2.7%, with the stock up 173% year-to-date. Micron’s market cap now stands at $266.5 billion. The company trades at a P/E ratio just over 31x and sits well above key moving averages.