New York, Feb 10, 2026, 09:37 EST — Regular session
- Micron slipped about 3% in early trading Tuesday as rivals in the HBM4 space step up their game before Nvidia rolls out its upcoming AI platform.
- Reports and research notes point to Samsung and SK hynix taking an early lead, prompting some to question whether Micron’s timing is off.
- Investors are zeroing in on Micron’s Feb. 11 conference, looking for concrete details about HBM4 qualification and the ramp timeline.
Micron Technology slid 2.9% to $383.50 early Tuesday, as fresh worries resurfaced over whether the chipmaker could fall behind in next-gen high-bandwidth memory—the backbone for top AI processors.
The decline stands out, especially as high-bandwidth memory, or HBM, has quickly become a key profit driver for memory makers. HBM sits adjacent to the graphics processor, moving data far faster than conventional chips. For now, investors are treating the earliest suppliers as proxies for who has real pricing power.
TrendForce, citing South Korean outlets Yonhap and Hankyung, said Samsung looks set to roll out the first HBM4 shipments right after the Lunar New Year. In the background, speculation has surfaced over Micron’s chances of landing an early slot for Nvidia’s “Rubin” platform. 1
BusinessKorea, citing SemiAnalysis and people familiar with the industry, reported Tuesday that Micron may be left off Nvidia’s initial list of HBM4 suppliers, apparently due to performance issues. SemiAnalysis called Micron “lagging behind target specifications.” Their projections: SK hynix ends up with about 70% of Nvidia’s HBM4 orders, Samsung takes the other 30%. The report also points out—HBM can account for as much as 40% of a GPU’s total cost. 2
Plenty of skeptics weighed in. Jordan Klein, trade-desk analyst over at Mizuho, described the drop as fallout from “moronic press” coverage of Micron’s HBM4 speed, according to a note picked up by MarketWatch. 3
AI chip stocks mostly saw gains—Nvidia picked up 2.4%, and AMD was up 3.6% at the open. But this move didn’t carry across the group.
Micron stock has soared in the past year as investors bet on tight memory supplies and a surge in AI demand. Barron’s reports the CEO is sticking to the timeline for ramping HBM4 production in Q2 2026. Top AI buyers, he said, remain keen on spreading out their suppliers. 4
Traders are watching to see whether the “supplier list” chatter turns into something concrete—and whether that shifts price or volume outlooks for 2026. Qualification rates and yield—the share of usable chips from each wafer—can move quickly. But with capacity strained, delays aren’t cheap.
Yet one risk tends to stay off the radar when stocks are climbing. If Micron’s HBM4 trails rivals to market—or if its debut share lands on the low side—the company could face a weaker product lineup and lose pricing leverage just as competitors load new chips into the AI supply chain.
Micron will take the stage at Wolfe Research’s Auto, Auto Tech and Semiconductor Conference on Feb. 11. Investors want details: HBM4 rollout timing, an update on customer qualification, and any clues about near-term demand are all on their radar. 5
