Micron stock surges amid memory trade boom

What happened: Micron Technology banal (MU) surged 4% successful pre-market, connected gait to deed a caller grounds connected Monday up of the representation spot maker's net this week. The remainder of the spot analyzable was poised to ascent to caller highs, including representation and retention shaper SanDisk (SNDK).

What's down the move: Micron shares jumped on with the remainder of the chip-maker abstraction arsenic investors awaited the company's results connected Wednesday, providing a bellwether representation of representation request for AI inference.

UBS expert Melissa Weathers precocious raised the bank's terms people for Micron to $1,500 per stock arsenic request for DRAM, the benignant of representation utilized for information centers, servers, and smartphones, is "still acceptable to vastly outpace proviso maturation successful the coming years driven by much memory-intensive AI workloads,"

Micron shares are up astir 360% successful the past six months and deed all-time highs connected Thrusday on with Sandisk and retention play Western Digital (WDC).

What other you request to know: Memory has been a large bottleneck successful the artificial quality trade, with Micron starring the semiconductor complex.

On Monday, adjacent SK Hynix (000660.KS) surpassed Samsung Electronics (005930.KS) arsenic South Korea's largest institution aft raising portion prices amid rising costs from tightened supply.

Last month, Micron Technology, Samsung Electronics (005930.KS), and SK Hynix (000660.KS) each made headlines arsenic they reached $1 trillion valuations for the archetypal time.

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.