Micron Technology (Micron (MU)) shares climbed on Friday, and the reason is pretty straightforward: the biggest names in tech are all saying the same thing — memory is getting expensive, and they're paying up.

The Nasdaq was up 0.71% and the S&P 500 gained 0.49%, but Micron outperformed with a 5.17% jump to $543.90. That puts it just above its 52-week high of $535.50, a level that could either stall the rally or send it into overdrive.

Hyperscalers Are Feeling the Pinch

Meta Platforms (Meta (META)) raised its 2026 capital expenditure outlook to a range of $125 billion to $145 billion. CEO Mark Zuckerberg said “most” of that increase comes from higher component costs, “particularly memory pricing.” CFO Susan Li echoed that, pointing to “higher component pricing this year” as a key driver.

Microsoft (Microsoft (MSFT)) CFO Amy Hood revealed that the company's $190 billion capex for 2026 includes “$25 billion from the impact of higher component pricing.” That's a lot of zeros tied directly to memory.

And Amazon (Amazon (AMZN)) CEO Andy Jassy put it bluntly: “The cost of these components, particularly memory, has skyrocketed.” He added that there's “just not enough capacity” to meet demand.

So when the three biggest spenders in tech all say memory is a major cost driver, it's a pretty clear signal that memory suppliers like Micron are in a sweet spot.

Technical Picture

Micron is trading near the top of its 52-week range, sitting just below the $535.50 high. The stock is 16.2% above its 20-day simple moving average and 38.4% above its 100-day SMA. Over the past 12 months, it's up a staggering 574.70%, which shows just how aggressively the market has repriced memory in the AI era.

Key levels to watch:

• Resistance: $535.50 — the 52-week high, where breakouts can either stall or accelerate.
• Support: $453 — around the 20-day SMA, where dip-buyers have recently shown up.

For now, the trend is clearly in Micron's favor. As long as hyperscalers keep spending on AI infrastructure, memory prices — and Micron's stock — could have more room to run.