NEW YORK, July 6, 2026, 05:01 EDT
- Micron’s final regular price on Google Finance came in at $975.56, off 5.49%. The latest pre-market quote showed $1,003.00, up 2.81%, before the Nasdaq opened at 9:30 a.m.
- SK Hynix kicked off a $28.07 billion U.S. ADR offering on Monday, putting a direct HBM rival in front of American investors to weigh vs Micron.
- Micron is in the news with a new supply plan—planning a $9.3 billion HBM build-out in Hiroshima. Mass production is set for summer 2028, according to .
Micron Technology NASDAQ:MU comes into Monday’s U.S. session with the focus turned to its scarcity premium. The question for traders is what happens when SK Hynix KRX:000660, which leads in HBM, kicks off a $28.07 billion Nasdaq depositary-receipt sale. This puts less weight on AI-memory speculation and more on the impact of new supply.
The market was closed Friday for Independence Day observed. Nasdaq pre-market runs from 4:00 a.m. to 9:30 a.m. Eastern, before the 9:30 a.m. open. Micron showed at $1,003.00 pre-market on Google Finance, up $27.44 from the regular close of $975.56, which had fallen 5.49%.
| Micron price marker | Latest figure |
|---|---|
| Last close | $975.56 |
| Last session change | -5.49% / -$56.72 |
| Pre-market | $1,003.00 |
| Pre-market change | +2.81% / +$27.44 |
| 52-week high | $1,255.00 |
| Pre-market gap to 52-week high | -20.1% |
| Quarterly payout | $0.15 |
| Ex-div date | July 6, 2026 |
The dividend doesn’t mean much here. Shares jumped $27.44 pre-market, which is about 183 times bigger than the $0.15 quarterly dividend from Google Finance. The last session’s loss was about 378 times that number. The move isn’t about the ex-dividend, it’s driven by cycle risk and new supply from peers.
SK Hynix’s latest move comes with a U.S. share sale. Reuters said Monday the company will offer 17.79 million new shares as Nasdaq ADRs—10 ADRs for each common share. The final price posts Thursday, with trading set to begin Friday. SK Hynix plans to use the money for South Korea chip plants and gear, naming EUV tools from ASML AMS:ASML.
| AI memory marker | Micron | SK Hynix |
|---|---|---|
| Main U.S. investor access | Listed on Nasdaq | Nasdaq ADR sale just launched |
| Fresh capital/supply news | Hiroshima HBM project put at $9.3 bln | U.S. ADR deal sized at $28.07 bln |
| Stated timing | HBM ramp starts summer 2028 | Final price comes Thursday, starts trading Friday |
| Monday share move cited in sources | Up 2.81% pre-market | Shares in Seoul down 3.4% |
| 2026 stock run cited in sources | 52-week range $103.38-$1,255.00 | About 260% gain in 2026 |
Di Zhou, who runs portfolios at Thornburg Investment Management, told Reuters that the sector is in a “memory super cycle.” Dave Mazza, CEO at Roundhill Investments, said SK Hynix’s new listing takes out an “accessibility discount, not a quality discount.” Steve Sosnick, chief strategist at Interactive Brokers, said the move gives SK Hynix a new pool of “momentum-hungry investors.” Reuters
Micron’s timeline for supply is running the other way. Digital Today said Monday the company is starting work on a $9.3 billion next-gen memory plant in Hiroshima, aimed at boosting HBM output. Japan’s trade ministry plans to back the project with up to 500 billion yen, with mass production targeted to start in summer 2028. The outlet also cited Counterpoint Research figures showing SK Hynix held 57% HBM market share at the end of last year, with Samsung Electronics KRX:005930 at 22% and Micron at 21%.
This complicates the trade for Micron holders. Pricing is tight for now, but supply is still coming online in Korea, Japan, and the U.S. If SK Hynix starts trading in New York at a higher multiple, that could become Micron’s new benchmark. If SK Hynix slips, Micron could hang onto its scarcity premium in the U.S.
Micron bulls still have something to point to. The company put up fiscal Q3 revenue of $41.46 billion, a jump from $9.30 billion last year, and guided Q4 revenue to $50.0 billion, give or take $1.0 billion. CEO Sanjay Mehrotra said the latest numbers show the “strategic value of memory in the AI era.” Micron Technology
Brian Gilmartin wrote on Investing.com that Micron’s fiscal Q3 revenue topped consensus by 17%, operating income beat by 22% and EPS was ahead by 21%. He also mentioned there were 16 strategic customer agreements, several with price bands, saying Micron is trying to cushion the rough spots in the DRAM and NAND cycle.
Micron shares may have already priced in a lengthy upcycle in memory. Google Finance put the stock at 22.09 times earnings. Of 31 analysts on the site, 29 rate it a buy, one a hold, and none a sell. The average 12-month price target was $1,563.93, about 60% above the latest $975.56 quote.
U.S. stock futures traded higher before the bell. Barron’s had Dow futures up 0.1%, S&P 500 futures up 0.4%, Nasdaq 100 futures gaining 1.0%. That move gives support to the tape, but doesn’t end the debate about memory chips. Sundeep Gantori, Standard Chartered’s chief investment officer of equities, told Reuters the cycle moved out of the early stage and is now in the “mid-cycle stage.” Barron’s
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