Micron Technology, Inc (NASDAQ:MU) shares are trading higher, up 0.17%, on Thursday, as continued strength in growth-oriented names outweighs a mixed broader tape.
The Nasdaq is up 0.11% while the S&P 500 has shed 0.01%.
Micron is holding up as traders keep rewarding large-cap momentum leaders, with the stock pressing near its 52-week highs and staying extended above key moving averages.
CNBC’s Jim Cramer said on Thursday that Micron and other memory and storage names are surging because AI demand has created a supply shortage that the industry was not prepared to meet.
Micron Benefits From AI-Driven Memory Shortages
Cramer grouped Micron with Seagate Technology Holdings Plc (NASDAQ:STX), Sandisk Corp (NASDAQ:SNDK), and Western Digital Corp (NASDAQ:WDC) as memory and storage stocks riding strong demand from the AI buildout.
He said AI requires huge amounts of memory, and the industry lacks enough capacity to meet that demand, which is pushing these stocks higher.
Buyers Keep Chasing the Group
Cramer said these stocks keep climbing because aggressive buyers continue placing large orders at higher prices.
He described the group as driven by persistent investor demand and that the rally is still in its early stages.
Micron Stands Out Within a Hot Sector
Cramer did not separate Micron negatively from its peers. Instead, he included it among the “red-hot” winners in memory and storage that have benefited from the same shortage-driven momentum tied to AI infrastructure.
Technical Analysis
Micron is sitting near the top of its 52-week range, which keeps the longer-term trend firmly pointed up. The stock is trading 20.8% above its 20-day simple moving average (SMA) and 35.1% above its 100-day SMA. This setup indicates buyers still control both the short- and intermediate-term trends.
The moving average structure is slightly mixed: the 20-day SMA is below the 50-day SMA (a near-term bearish crossover), but the 50-day SMA remains above the 200-day SMA, reflecting the golden cross that formed in June 2025 and a longer-term uptrend that hasn’t broken. That combination often translates to “strong trend, but stretched,” where pullbacks can happen without changing the bigger picture.
The relative strength index (RSI), a momentum gauge, is 68.65, which is close to the overbought threshold and consistent with persistent upside pressure. RSI at 68.65 suggests momentum is strong, but the stock is getting crowded on the long side.
- Key Resistance: $492.00 — near the 52-week high area where breakouts can stall.
- Key Support: $411.00 — near the 50-day SMA zone where dip-buyers often show up.
Micron’s 12-month gain of 574.13% shows how powerful this trend has been, and it helps explain why the stock is still trading far above its 200-day SMA (86.7% above). When a stock is that extended, traders tend to watch whether it can keep making new highs without a deeper reset.
Earnings & Analyst Outlook
Looking further out, the next major catalyst for the stock arrives with the June 24, 2026 (estimated) earnings report.
- EPS Estimate: $18.95 (Up from $1.91 YoY)
- Revenue Estimate: $33.47 Billion (Up from $9.30 Billion YoY)
- Valuation: P/E of 23.0x (Suggests fair valuation relative to peers)
Top ETF Exposure
- iShares MSCI USA Value Factor ETF (BATS:VLUE): 8.88% Weight
- Direxion Daily MU Bull 2X ETF (NASDAQ:MUU): 9.44% Weight
- Invesco AI and Next Gen Software ETF (NYSE:IGPT): 7.08% Weight
Significance: Because MU carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.
Price Action
MU Stock Price Activity: Micron Technology shares were up 0.17% at $488.31 at the time of publication on Thursday, according to Benzinga Pro data.
Image Via Shutterstock
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