Micron Shares Bump Up Overnight After Elon Musk Commends Chipmaker's Memory Pricing
Shares of Micron Technology, Inc. (MU) gained 0.7% in overnight trading following comments from SpaceX CEO Elon Musk praising the memory chipmaker for maintaining fair prices. The modest rise offers a brief break from a four-day pullback that saw the stock fall 3.62% during regular trading hours to $953.20.
Musk noted on social media that Micron has taken a reasonable approach to future memory pricing compared to competitors, calling it a strategy that builds long-term customer loyalty. Demand for high-bandwidth memory has intensified across the technology sector to power artificial intelligence infrastructure, driving price increases of 80% to 90% across DRAM, NAND flash, and advanced memory chips earlier this year. Micron holds $150 billion in contracted backlog, with more than 75% of its fiscal 2027 output already committed to customers.
Investors remain focused on whether surging demand for AI infrastructure can outweigh broader semiconductor industry headwinds. Doubts regarding return on investment for artificial intelligence projects and prospective competition from Chinese memory manufacturers have created recent volatility for semiconductor equities. However, Micron Technology, Inc. (MU) retains strong multi-year momentum, holding a year-to-date gain of 234%.
Key points
- Micron Technology, Inc. (MU) shares rose 0.7% in overnight trading after dropping 3.62% to $953.20 in regular hours.
- Elon Musk publicly praised Micron for reasonable memory pricing, citing long-term customer loyalty.
- Memory prices jumped 80% to 90% in Q1 2026 due to strong demand from artificial intelligence data centers.
- Micron holds $150 billion in contracted backlog, with more than 75% of its fiscal 2027 production already sold.
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Why did Micron stock move overnight?
Micron Technology, Inc. (MU) shares gained 0.7% overnight after Elon Musk commended the company for reasonable pricing on memory chips compared to competitors.
What comments did Elon Musk make about Micron?
Elon Musk stated that Micron has been reasonable on future memory prices while others have been extortionate, calling it a smart move for building long-term customer loyalty.
How has Micron Technology stock performed this year?
Despite falling over 14% across four trading sessions to $953.20, Micron Technology, Inc. (MU) stock remains up 234% year to date.