Micron Technology (MU) shares surged 3.5% in pre‑market trading following Tuesday’s plunge of more than 6%, signaling a swift rebound for the chipmaker.
Share Price Recovery
After hitting an all‑time high on Monday, Micron’s stock retreated alongside the broader technology sector before climbing to $1,054.72 at the opening bell. The rise positioned Micron as one of the strongest pre‑market performers in the S&P 500, trailing only Intel, while Nasdaq futures advanced 0.54%.
Over the trailing twelve months, Micron delivered a 750% gain, outpacing most Wall Street forecasts, and now trades at 48.2 times forward earnings, a premium that underscores high investor expectations.
Investor Outlook and Crypto Relevance
Micron is set to release its fiscal Q3 results on June 24, after executives hinted at a $33.5 billion quarterly revenue forecast, an 81% gross profit margin, and earnings per share exceeding $19. Management also reported stronger‑than‑expected unit shipments and average selling prices.
Executive Vice President Manish Bhatia said demand for high‑bandwidth memory, DRAM, and NAND flash remains robust, with supply constraints expected to persist through calendar 2026. The tight supply of these components directly impacts blockchain miners and other crypto‑related hardware, keeping investors attentive to Micron’s role in the evolving crypto market