NEW YORK, June 20, 2026, 14:03 EDT
- Micron ended regular U.S. trading Thursday at $1,133.99, up 8.70%. The stock didn’t trade Friday because of the Nasdaq’s Juneteenth holiday.
- The stock jumped 15.5% over the holiday-shortened week. All eyes are on next week’s earnings, which will test the strength of the AI memory rally.
- SK Hynix shipped new HBM chip samples, holding its position as Samsung and Micron look for a share of the same AI-server market.
Micron Technology hit a record close in a shortened week, stretching gains as the memory-chip maker draws growing interest from Wall Street ahead of its June 24 earnings.
U.S. stocks didn’t trade Friday because of Juneteenth. Nasdaq doesn’t open on Saturdays. That put Micron’s last regular price at $1,133.99 on Thursday. Volume that day hit 64.3 million shares, with a top price of $1,149.43.
Tide is turning on timing. Investors are watching Micron’s fiscal Q3 numbers to see if AI data center spending is still driving demand, pricing and margin gains for chips. Micron shares have jumped 298% this year, Reuters reported. The Philadelphia Semiconductor Index hit a record, up 7% on the week.
Micron’s stock moved around this week. Shares climbed 10.84% Monday, slid 6.18% Tuesday, picked up 2.20% Wednesday, and then surged 8.70% Thursday, all on daily closes. No sign of quiet buying—traders are piling in ahead of new numbers and fighting over what little is out there.
Micron has set a tough revenue target for itself. Back in March, the company said it expects fiscal Q3 revenue to come in at $33.5 billion, give or take $750 million. It also projected non-GAAP EPS of $19.15, plus or minus 40 cents. Non-GAAP figures strip out certain items that management says don’t show the real operating picture.
Micron CEO Sanjay Mehrotra said at the time the company had set new highs in revenue, gross margin, EPS, and free cash flow, adding that “memory has become a strategic asset” in the AI era. That comment is part of why the stock has been re-rated—investors are now seeing DRAM, NAND, and high-bandwidth memory as key hardware, not just another part of the memory cycle. DRAM handles working data for computing, NAND holds on to data when power is off, and high-bandwidth memory, or HBM, sits right next to AI chips to allow faster data movement. Micron Technology
“There’s been a lot of momentum here recently,” Andy Pratt, director of investment strategy at Burney Company, told Reuters. He said there was still “a lot of juice” left in revenue-surprise signals. Steve Kolano, chief investment officer at Integrated Partners, described Micron’s setup as a “classic positive feedback loop” and said semiconductor demand was “through the roof” compared to capacity. Reuters
SK Hynix isn’t sitting out the race. The company said this week it has sent out samples of its 12-layer HBM4E chips to major customers. The new chips can hit 16 gigabits per second per pin and should use over 20% less power than older versions. Reuters called SK Hynix Nvidia’s main HBM supplier, with Samsung and Micron also trying to win business in the space.
Demand isn’t just coming from cloud servers anymore. Barron’s said Thursday that Micron shares got a boost after Apple CEO Tim Cook talked about higher memory and storage costs, hinting supply for DRAM and NAND is tight for both big consumer electronics names and AI infrastructure buyers.
The risk now is the share price may have run too far ahead. Reuters said valuations are high, and the Federal Reserve’s preferred inflation metric comes next week, along with the last look at first-quarter GDP. Both could shift sentiment. Drew Matus at MetLife Investment Management told Reuters that anything that could threaten the AI trade or stocks is getting close attention because of the wealth effect.
Micron will report its fiscal third-quarter results on Wednesday, June 24, with the call set for 2:30 p.m. Mountain, 4:30 p.m. New York time. Investors want to know how much HBM capacity is spoken for, how long DRAM and NAND pricing can keep running, and what kind of clarity management can offer for the next move up.
