Micron Technology Stock Rises Amid Intel's Warning on Memory Shortage
On Thursday, Sept. 17, Micron Technology (NASDAQ: MU) stock rose approximately 5.5% after Intel CEO Lip-Bu Tan warned that the global memory shortage is expected to worsen in the coming year. As one of the largest U.S.-based memory manufacturers, Micron has benefited from strong demand driven by AI data center expansion and limited production capacity. The market reacted positively to this forecast as it suggests continued pricing power for companies like Micron, Samsung, and SK Hynix. Additionally, broader stock indices such as the S&P 500 and Nasdaq Composite also rose due to easing bond yields and oil prices. In its most recent fiscal quarter ending June 2026, Micron reported $41.46 billion in revenue with a GAAP gross margin of 84.6%, setting high expectations for the upcoming report on Sept. 30.
Topics: AI data centers Intel CEO statement memory shortage Micron Technology