Micron Shares Rise as Intel CEO Warns of Memory Price Surge
Micron Technology (NASDAQ:MU) shares rose over 5% on Thursday, driven by concerns about a worsening memory shortage and surging prices. Intel CEO Lip-Bu Tan warned that memory chip prices have increased more than fivefold due to limited supply struggling to meet AI demand, with the bottleneck expected to worsen in 2027. The comments from Tan fueled optimism among investors who are closely watching Micron's upcoming fiscal fourth-quarter results on September 30. The company has already seen a significant revenue jump and high gross margins due to tight supply dynamics. SK hynix (NASDAQ:SKHY) also gained as memory stocks rallied, while the Nasdaq rose over 1% following positive market sentiment. Industry leaders like SK hynix CEO Kwak Noh-jung have echoed concerns about a potential worst year for supply in 2027. TrendForce estimates server DRAM prices could rise sharply through 2026 and remain elevated into 2027 despite new capacity coming online.
