What happened: Micron (MU) stock jumped Friday, putting the chipmaker on track for its seventh straight intraday record high, adding to its weekly gain of over 30%.
What’s behind the move: The rally is tied to the AI memory boom, where demand for high-bandwidth memory and other advanced chips has turned Micron into one of the market’s biggest AI hardware winners. The stock is now up 120% since its March 30 low and nearly 1,000% from its April 8, 2025, post-”Liberation Day” low.
By the numbers: Micron has hit 28 intraday records this year and added $437 billion in market value since March 20, lifting its valuation to roughly $800 billion.
Micron is now the fourth-largest chip stock, behind Nvidia (NVDA), TSMC (TSM), and Broadcom (AVGO). It ranks 13th in the S&P 500, behind JPMorgan Chase (JPM) and ahead of AMD (AMD). In the Nasdaq 100, it ranks 10th, just behind Walmart (WMT) and ahead of AMD.
Micron was not alone Friday. SanDisk (SNDK), Applied Materials (AMAT), ASML (ASML), Intel (INTC), AMD, and Nvidia also hit intraday records. Smaller names on that list, including MACOM Technology Solutions (MTSI) and AXT (AXTI), have each notched more than 30 intraday records this year.
What else you need to know: The next key area is below the tape. Micron’s old breakout zone around $465 to $470 is now the support area to watch. However, that’s 34% below the current trading level.
Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared or email him at jaredblikre@yahooinc.com.
Click here for in-depth analysis of the latest stock market news and events moving stock prices
Read the latest financial and business news from Yahoo Finance