What Is Going On With Micron Stock On Thursday?

Micron Technology Inc (NASDAQ:MU) stock climbed Thursday as rising memory-chip prices, analyst price-forecast hikes, and AI-driven demand lifted sentiment ahead of the company's June 24 earnings report.

Apple Price Report Lifts Memory Stocks

Micron shares rose more than 4% after the Wall Street Journal reported that Apple Inc (NASDAQ:AAPL) is preparing to raise product prices following a sharp increase in memory-chip costs.

Apple CEO Tim Cook told the Wall Street Journal that price increases were "unavoidable" because memory-chip costs have become "unsustainable," citing "less supply" while "the memory guys are passing along huge price increases."

Market Tone Supports Micron

The broader market backdrop also helped support Micron, with Nasdaq futures up 1.34% and S&P 500 futures up 0.44% in premarket trading. That positive setup can help keep high-growth technology names supported even after sharp prior gains.

Against that backdrop, Micron's steadier premarket move looked more like consolidation than a reversal following its large 12-month rally.

Technical Setup Shows Strong But Extended Trend

Micron remains in a strong, longer-term uptrend, trading 15.2% above its 20-day simple moving average of $945.48 and 175.2% above its 200-day simple moving average of $395.67. The stock also has a bullish longer-term setup, with its 20-day average above its 50-day average and a golden cross that formed in June 2025.

Momentum looks more mixed. MACD remains below its signal line with a negative histogram, suggesting upside pressure has cooled from the prior rally. Micron also trades 51.6% above its 50-day average of $718.25, leaving the stock vulnerable to sharper pullbacks if buyers lose momentum.

Earnings & Analyst Outlook

Micron Technology is set to report earnings on June 24, 2026 (confirmed).

• EPS Estimate: $19.66 (Up from $1.91 YoY)
• Revenue Estimate: $34.47 Billion (Up from $9.30 Billion YoY)
• Valuation: P/E of 49.2x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $1066.52. Recent analyst moves include:

• Citigroup: Buy (Raises Forecast to $1200.00) (June 17)
• Deutsche Bank: Buy (Raises Forecast to $1500.00) (June 17)
• TD Cowen: Buy (Raises Forecast to $1500.00) (June 15)

Top ETF Exposure

• iShares Semiconductor ETF (NASDAQ:SOXX): 7.63% Weight
• Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ): 9.78% Weight
• Global X Dax Germany ETF (NASDAQ:DAX): 9.46% Weight

Significance: Because MU carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

MU Stock Price Activity: Micron Technology shares were trading higher by 4.48% at $1089.20 during premarket trading on Thursday, according to Benzinga Pro data.

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