Micron Technology Stock News

Micron stock hit an all-time high on Monday as the memory-chip leader prepares to release its fiscal fourth-quarter results next week.

Many growth-oriented investors dream of finding the next hot stock that can churn out millionaire-making gains from a modest investment. But for every stock that delivers those multibagger returns, dozens of other promising stocks fizzle out.

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Shares of Micron (MU 4.59%), the U.S.-based memory chipmaker, were moving higher today in sympathy with SK Hynix, the world's largest memory chip company, which hit an all-time high today after it announced the world's first HBM4 product.

S&P 500 gains 1.7% this week as traders bet on a Fed rate cut. Tech stocks like Tesla and Palantir surge while bond yields flash caution signals.

The race for artificial intelligence, and the semiconductors that drive its development, is still ongoing for the U.S. technology sector. This time, however, it is one of the more or less forgotten tech names that has recently earned the attention of the markets: Micron Technology Inc. NASDAQ: MU.

Micron stock is still cheap, even after surging on a big Citi price target hike. With earnings ahead, perhaps MU stock is ready for new highs and a big breakout.

Micron Technology (MU 7.66%) has turned out to be one of the biggest beneficiaries of the artificial intelligence (AI) revolution. The memory specialist's revenue and earnings have taken off impressively in recent quarters, and that's not surprising, as its chips are going into multiple AI-powered applications.