Micron Technology (MU) shares jumped nearly 4% in Thursday's premarket session, riding a wave of renewed appetite for semiconductor stocks as the broader market strengthened. Nasdaq futures rose 0.54% and S&P 500 futures gained 0.10%, signaling a risk-on mood.
The bounce comes after Micron pulled back from its June highs, but the longer-term story remains intact. Investors are still optimistic about the AI-driven memory supercycle, and recent bullish analyst price target increases — along with long-term supply agreements that improve revenue visibility — have kept demand for the stock alive. Thursday's move suggests traders are testing whether the uptrend can resume.
Micron Technical Analysis
Micron's long-term trend is still up, but the stock is in a short-term consolidation. It trades about 11.7% above its 50-day simple moving average but remains roughly 6% below its 20-day SMA. The relative strength index sits at 47.25 — a neutral reading that suggests buying and selling pressure are balanced after the stock cooled from overbought levels.
Traders are watching resistance near $1,089.50. If the stock breaks above that level and holds, it could retest the June high of $1,255. On the downside, initial support is around $854.50, which is close to the 50-day moving average.
Earnings And Analyst Outlook
Micron is expected to report earnings around Sept. 22, 2026. Wall Street expects earnings per share of $31.24, up from $3.03 a year earlier, on revenue of $50.72 billion, compared with $11.31 billion last year.
The stock carries a Buy consensus rating with an average analyst price target of $1,542.05. Recent bullish calls include price target increases from Cantor Fitzgerald and Barclays in late June.
Price Action
Micron Technology shares were up 4.03% at $987.00 during premarket trading on Thursday.
