Micron Technology, Inc. (NASDAQ:MU) stock climbed in Tuesday premarket trading as investors continued piling into AI infrastructure stocks amid expectations of stronger memory-chip demand.

The move followed upbeat AI signals from NVIDIA Corp. (NASDAQ:NVDA), which recently reported first-quarter revenue growth of 85% and issued strong second-quarter guidance. NVIDIA also approved an additional $80 billion share buyback and raised its quarterly dividend.

The broader market traded higher before the bell, with the Invesco QQQ Trust up 0.91% and the SPDR S&P 500 ETF Trust gaining 0.58%.

Micron Launches Advanced DRAM Production In The U.S.

Separately, Micron said last week its Manassas, Virginia, facility has started manufacturing 1α (1-alpha) DRAM memory chips, making it the most advanced memory production currently operating in the United States.

The company said that growing AI demand across data centers, industrial systems, and automotive applications continues to drive the need for advanced memory and storage products.

The Virginia project forms part of Micron’s broader $200 billion plan to expand semiconductor manufacturing in the United States.

U.S. Officials Back Domestic Chip Production Push

U.S. Commerce Secretary Howard Lutnick said Micron’s investment would strengthen domestic chip manufacturing capacity and support the growth of advanced manufacturing nationwide.

Micron also said its projects in Virginia, Idaho, and New York are expected to create roughly 90,000 jobs as the company expands its U.S. semiconductor operations.

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the June 24, 2026 (estimated) earnings report.

  • EPS Estimate: $19.11 (Up from $1.91 YoY)
  • Revenue Estimate: $33.60 Billion (Up from $9.30 Billion YoY)
  • Valuation: P/E of 35.4x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $620.43. Recent analyst moves include:

  • Citigroup: Buy (Raises forecast to $840.00) (May 19)
  • Melius Research: Buy (Raises forecast to $1100.00) (May 19)
  • Mizuho: Outperform (Raises forecast to $800.00) (May 19)

Price Action

MU Price Action: Micron Technology shares were up 6.26% at $798.01 during premarket trading on Tuesday. The stock is trading near its 52-week high of $818.67, according to Benzinga Pro data.

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