On May 8, Micron Technology rose 3.03% in pre-market trading, trading at approximately $666.06/share with trading volume of $365 million, extending its powerful rally driven by explosive AI-related memory demand.
The continued upside follows a series of catalysts earlier this week. Micron's stock broke above $600 on May 5 and surged over 11% on the same day to close at $640.2, pushing market capitalization above $700 billion for the first time in history. The rally has been fueled by structural shifts in memory demand as AI inference workloads require exponentially more high-bandwidth memory. Micron's CEO stated that memory supply remains extremely tight and shortages are expected to persist through 2027. The company's HBM market share has surged from 5% in 2024 to 21%, making it the world's second-largest HBM supplier. To address the supply gap, Micron is simultaneously constructing five wafer fabrication facilities globally, though executives acknowledged that capacity still cannot keep pace with demand.
Within the Semiconductors sector, top movers include Qualcomm up 5.91%, Advanced Micro Devices up 1.78%, Broadcom up 1.78%, Intel up 1.40%, and NVIDIA up 0.96%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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