Micron Technology, Inc. (NASDAQ:MU) shares are surging on Friday. The stock reached new all-time highs of $683.09. This move pushes the company’s market capitalization toward $730 billion.
Nasdaq futures are up 0.81% while S&P 500 futures have gained 0.52%.
Cramer Sees Secular Shift
CNBC’s Jim Cramer stated Tuesday that Micron benefits from a structural shift in storage. He argues the AI buildout creates a secular trend rather than a short-lived cycle.
Cramer noted that conversations with Amazon.com Inc (NASDAQ:AMZN) executives reinforced this bullish view. He praised CEO Sanjay Mehrotra for recognizing the demand wave early.
The ‘Memflation’ Phenomenon
The rally follows Gartner’s projection of an extreme pricing environment. Gartner dubbed this “memflation.” Senior principal analyst Rajeev Rajput forecasts DRAM prices will spike 125% this year. NAND flash prices could jump 234%. Gartner expects global memory revenue to hit $633.3 billion in 2026.
Next-Gen Storage Launches
On May 5, Micron began shipping its 245TB 6600 ION SSD. This is the world’s highest-capacity commercially available drive.
It targets AI data lakes and hyperscale workloads. The drive addresses power and cooling bottlenecks in AI infrastructure.
Supply Constraints Tighten
Supply remains tight across the industry. TD Cowen flagged that Micron’s 2026 HBM capacity is entirely pre-sold.
Industry participants, including Sandisk Corp (NASDAQ:SNDK), Western Digital Corp (NASDAQ:WDC) and Seagate Technology Holdings Plc (NASDAQ:STX), also see limited capacity expansion.
MU Price Action: Micron Technology shares were up 3.00% at $666.00 during premarket trading on Friday. The stock is trading near its 52-week high of $683.09, according to Benzinga Pro data.
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