NEW YORK, June 1, 2026, 04:13 (EDT)
Micron Technology was last quoted at $971 in Monday’s U.S. premarket, putting the Nasdaq-listed stock near the top of the AI trade with a market value of about $1.11 trillion. Regular Nasdaq sessions go from 9:30 a.m. to 4 p.m. ET. Nasdaq’s 2026 holiday calendar does not show June 1 as a market holiday.
Micron’s rally is in focus as investors stop seeing the company as a usual cyclical memory name. The stock turned into a way to bet on AI server spending, with high-bandwidth memory, or HBM — stacked chips engineered to move data fast for AI processors — running short.
UBS kicked off the rally last week, hiking its Micron price target to $1,625 from $535, more than tripling it. The firm said long-term supply deals might bring stability to Micron’s earnings, which have moved with swings in memory prices for years.
Micron is up next for quarterly results, with the company set to release its fiscal third-quarter numbers on June 24. The earnings call is booked for 2:30 p.m. Mountain time, 4:30 p.m. in New York, according to .
Micron set the bar high. The company posted fiscal second-quarter revenue of $23.86 billion in March, up from $8.05 billion a year ago. Micron is looking for third-quarter revenue of $33.5 billion, give or take $750 million. CEO Sanjay Mehrotra called memory “a strategic asset” for customers, a phrase investors have latched onto. Micron Technology
Broad market strength has played a role. Wall Street’s major indexes set new highs on Friday, as the Nasdaq Composite gained 0.21% and the S&P 500 booked a ninth week of advances. “Euphoric sentiment in the market around AI,” said Ohsung Kwon, chief equity strategist at Wells Fargo. Reuters
Micron’s job is clear: AI tools need quick memory close to chips, not only more chips. “Micron sits at the center of that demand shift,” Art Hogan, chief market strategist at B. Riley Wealth, said. Reuters
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, said bluntly that “memory chips are up significantly in price” and added he expects prices to stay firm over the next couple of years. Reuters
Samsung Electronics is shipping samples of its new 12-layer HBM4E chip, the company said Friday. Samsung claims the chip runs more than 20% faster than the HBM4 version it released earlier, as it looks to close the gap with SK Hynix and Micron. “Early movers tend to secure the bulk of orders,” Jeff Kim, head of research at KB Securities-Jefferies, said. Reuters
But the trade is crowded. Micron jumped over 5% Friday, setting a record close. Options showed traders expecting a swing of close to 10% either way this week. If pricing weakens, customers pull back, or Samsung qualifies sooner, what looks like supply trouble could become a valuation issue fast.
Monday is shaping up to be less about any new company news and more about whether investors stick with a stock already counting on tight supply, heavy AI spending, and clean execution through June 24. The issue isn’t the role of memory—Micron just doesn’t have much room for a miss right now.
