New York, June 11, 2026, 17:46 (EDT)
- Micron Technology ended the session at $995.87, gaining 11.66%. Market value was near $1.14 trillion.
- Chip stocks powered a rally on Wall Street. The Nasdaq rose 2.54%, while the PHLX Semiconductor Index jumped 7.9%.
- Micron’s June 24 earnings date and new analyst target hikes kept AI-focused memory pricing in the spotlight.
Micron Technology Inc. finished Thursday up 11.66% at $995.87 on Nasdaq, bouncing back sharply after hitting an intraday high of $996.55. The memory-chip maker closed with a market cap of about $1.14 trillion as the AI hardware rally rolled on this year.
Chip stocks powered a sharp rebound, with the PHLX Semiconductor Index jumping 7.9% for its biggest one-day rise since April 2025. Reuters said the Dow added 1.86%, the S&P 500 was up 1.75%, and the Nasdaq Composite rose 2.54%. “Just as we had gone up too far, too fast, we came down too far, too fast,” said Robert Phipps, director at Per Stirling Capital Management, to Reuters. Reuters
Micron bounced on Thursday after a rough patch. Barron’s noted shares had dropped 17% in the last five sessions as Broadcom’s outlook sparked a selloff in chip and AI stocks, but even before Thursday’s move Micron was still up 249% for 2026. The same story said investors shrugged off SK Group’s target to triple wafer capacity by 2034, seeing the timeline as too far out to impact Micron’s momentum in the current memory cycle.
Micron got a lift from analyst moves. Wolfe Research bumped its price target on the stock up to $1,250 from $550, stuck with an Outperform, and pointed to a about 45% gain in fiscal Q3 pricing, better prices out to 2026, and solid 2027 numbers built off HBM pricing. Over at MarketScreener, Daiwa Securities was shown raising its Micron target to $1,600 from $700 and kept a Buy call.
Morgan Stanley’s Shawn Kim called the recent dip in memory stocks a positive for the DRAM bull story, MarketWatch said. Wolfe Research’s Chris Caso sees DRAM prices surging 200% this year, with more upside in 2027 on supply constraints. Micron is around 9.4 times forward earnings, which investors are weighing against its AI-driven profit growth, according to the report.
Micron shares also reacted to new developments out of New York. Micron said June 10 it picked Bechtel to handle engineering, procurement and construction for the first phase of its planned Clay, New York memory plant. The company expects the site to become the largest U.S. semiconductor factory, adding 50,000 jobs in New York. “Home to the most advanced memory manufacturing in the world,” said Manish Bhatia, Micron’s executive vice president of global operations, calling the project a “cornerstone of America’s leadership in the AI era.” Micron Technology
Micron’s stock still trades on its AI story. Reuters notes Micron supplies DRAM, NAND and NOR memory and storage products. The company’s cloud memory business targets hyperscale customers and data centers, especially with high-bandwidth memory. Speaking at COMPUTEX 2026, Micron said AI workloads are boosting memory and storage needs across the compute stack. The company pointed to HBM, SOCAMM, DDR5 RDIMMs, and data-center SSDs as AI-centric offerings.
Micron is set to report fiscal third-quarter results on June 24 at 4:30 p.m. EDT, with analysts set to hear from management again during a follow-up call at 6:00 p.m. EDT. Last quarter, Micron posted revenue of $23.86 billion, up from $13.64 billion the quarter before, and $8.05 billion a year ago. GAAP net income came in at $13.79 billion, and non-GAAP diluted EPS was $12.20.
