NEW YORK, June 1, 2026, 04:13 (EDT)
Micron Technology (MU) traded at $971 ahead of Monday’s U.S. open, as the Nasdaq name continued to ride the AI boom with a market cap around $1.11 trillion. Regular Nasdaq trading runs 9:30 a.m. to 4 p.m. ET. Nasdaq’s holiday schedule for 2026 doesn’t list June 1 as a market holiday.
Micron’s rally has caught attention as investors are starting to treat the stock less like a typical memory cycle play. Now it’s become a way to get exposure to AI server demand, as high-bandwidth memory, or HBM — the stacked chips key for AI processors — is in tight supply.
UBS started the rally last week, raising its Micron price target sharply to $1,625 from $535. That’s more than triple the old number. The firm said long-term supply contracts could steady Micron’s earnings, which have shifted with memory prices for a long time.
Micron will report its fiscal third-quarter results on June 24. The company scheduled its earnings call for 2:30 p.m. Mountain time, or 4:30 p.m. in New York, according to .
Micron raises the bar with fiscal Q2 revenue of $23.86 billion in March, up from $8.05 billion last year. The company is guiding for third-quarter revenue at $33.5 billion, plus or minus $750 million. CEO Sanjay Mehrotra described memory as “a strategic asset” for customers, a line investors have picked up on. Micron Technology
Broad buying helped push stocks up again. Wall Street’s main indexes hit fresh records Friday, with the Nasdaq Composite up 0.21% and the S&P 500 logging its ninth straight week in the green. “Euphoric sentiment in the market around AI,” said Ohsung Kwon, chief equity strategist at Wells Fargo. Reuters
Micron has one task in focus now as AI pushes for faster memory right next to processors, rather than just extra chips. “Micron sits at the center of that demand shift,” said Art Hogan, chief market strategist at B. Riley Wealth. Reuters
Matt Stucky, who manages equities at Northwestern Mutual Wealth Management, said “memory chips are up significantly in price” and thinks prices will likely stay strong for the next couple of years. Reuters
Samsung Electronics is sending out samples of its new 12-layer HBM4E chip, it said Friday. The company says the chip is more than 20% faster than the earlier HBM4 chip. Samsung is pushing to catch up with rivals SK Hynix and Micron. “Early movers tend to secure the bulk of orders,” said Jeff Kim, head of research at KB Securities-Jefferies. Reuters
Micron ran up more than 5% on Friday for a record close, but the trade is crowded. Options market activity showed traders bracing for a move of close to 10% in either direction this week. If prices fall off, customers slow orders, or Samsung gets certified faster, the supply story could flip into a valuation risk quickly.
Micron’s stock is on watch Monday, with traders weighing whether to keep backing a name that’s already priced for strong AI demand, tight supply, and no major stumbles through June 24. There’s not much new on the company front. Micron doesn’t have much slack for error right now—the focus stays on memory and just how clean execution will be.
