Micron (MU) Stock Rises 5% as Hyperscalers Confirm Memory Cost Surge

TLDR

• Micron Technology stock rose over 5% on Friday, hitting a new 52-week high of $543.90
• Meta, Microsoft, and Amazon all flagged surging memory costs as a key driver of rising capex
• Samsung’s record profits on AI chip demand added fuel to the semiconductor rally
• DA Davidson initiated coverage with a Street-high $1,000 price target; TD Cowen raised its target to $660
• Micron’s Q2 FY2026 revenue hit $23.86 billion, up from $8.05 billion a year earlier

Micron Technology (MU) stock jumped more than 5% on Friday, hitting $543.90 and setting a new 52-week high. The move was driven by a wave of earnings commentary from major tech companies confirming that memory is now a central cost in the AI buildout.

Micron Technology, Inc., MU

Meta raised its 2026 capital expenditure outlook to between $125 billion and $145 billion. CEO Mark Zuckerberg attributed “most” of the increase to higher component costs, with memory pricing specifically called out.

CFO Susan Li backed that up, citing “higher component pricing this year” as a key driver behind the revised forecast.

Analyst Upgrades Add to the Rally

The stock also got a boost from analyst activity. DA Davidson initiated coverage with a Street-high price target of $1,000. TD Cowen raised its target to $660 from $550 — a 20% increase — while maintaining a Buy rating.

TD Cowen analyst Krish Sankar noted that Micron’s HBM capacity for 2026 is already fully sold out, a detail that underscores just how tight supply conditions are.

Rival Samsung also reported record profits driven by AI chip demand, sparking sympathy momentum across the semiconductor sector. SanDisk, Seagate, and NXP Semiconductors all posted strong results, adding to the broad tailwind.

Strong Fundamentals Back the Move

Micron’s most recent quarterly results gave investors plenty to work with. Fiscal Q2 2026 revenue came in at $23.86 billion, compared to $8.05 billion in the same period last year.

On the technical side, Micron is trading 16.2% above its 20-day simple moving average and 38.4% above its 100-day SMA. The stock has gained 574.70% over the past 12 months.

Key resistance sits at $535.50, the prior 52-week high. Support is around $453, near the 20-day SMA where buyers have previously stepped in.

Friday’s broader market was also positive, with the Nasdaq up 1.14% and the S&P 500 gaining 0.81%. Micron’s 5%+ move outpaced the index by over four percentage points.

MU stock was trading at $543.90 at time of publication, up 5.17% on the day.

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