Micron Technology Shares Rise Amid Forecast of Worsening Memory Shortage
On Thursday, Sept. 17, Micron Technology (NASDAQ: MU) stock rose approximately 5.5% as Intel's CEO warned that the global memory shortage is expected to worsen in the coming year. This tightening supply has bolstered pricing power for Micron and its competitors like Samsung and SK Hynix. The broader market also saw gains, with the S&P 500 rising by 1.1% and the Nasdaq Composite increasing by 1.7%. The rally was partly driven by easing bond yields and oil prices. Additionally, strong financial results from Micron's fiscal third-quarter in 2026—reporting $41.46 billion in revenue and a GAAP gross margin of 84.6%—fueled investor confidence. Micron is forecasting around $50 billion in revenue for its current quarter, with results expected on Sept. 30. The market's positive reaction reflects optimism about continued demand from AI data center expansion despite concerns over whether expectations may be outpacing actual performance.
Topics: AI data centers Intel CEO statement memory shortage Micron Technology