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Micron stock crosses $1,000 in premarket as AI memory demand stays hot
The shares have rebounded 36% since late July, after slipping 25% from the $1,000 area amid a pullback in AI momentum names.
Micron shares jumped back above $1,000 in premarket trading on Monday, a level the stock had not reached or exceeded since July 6, according to Yahoo Finance AlphaSpace data.
Yahoo Finance reports that the move reflects renewed momentum in AI memory, supported by ongoing hyperscaler infrastructure buildouts that are driving heavy orders for Micron’s high-bandwidth memory modules, including HBM3E and HBM4 used alongside Nvidia and AMD AI accelerators.
JPMorgan strategist Jay Kwon said in a recent note that strong hyperscaler demand should keep the “memory chip crisis” that is lifting Micron product prices for at least two years, citing a higher total addressable market from both pricing and volume and continued HBM supply constraints.
At an industry event earlier this month, Micron indicated demand signals have increased since its June earnings, and KeyBanc’s John Vinh said the company noted customers are consistently requesting more supply despite elevated pricing, with Micron saying it cannot meet half of some data center customer demand in many cases.