MU

Micron Technology Inc.

2026-01-16 03:56 PM

+5.58%

Micron surges on $100B New York megafab groundbreaking and $7.8M director share purchase

Micron officially broke ground on its $100 billion leading-edge memory manufacturing complex in New York, the largest semiconductor facility in the US, with Commerce Secretary Lutnick and other officials in attendance. Additionally, board member Mark Liu (former TSMC co-CEO) purchased $7.8 million in shares, signaling strong insider confidence. Multiple analysts raised price targets, with Citigroup lifting to $385 and Cantor Fitzgerald to $450.

Analysis

This continues a multi-day rally driven by AI memory demand tailwinds and company-specific catalysts. The director purchase from an industry veteran carries particular weight given his TSMC background. Bloomberg reports memory prices are creating a 'crisis' for hardware buyers while benefiting suppliers like Micron, with HBM sold out through 2026. This marks the third consecutive day of gains following TSMC's bullish AI outlook earlier this week.

Sources

Date: 2026-01-16

Price: $355.27

Type: Stock Specific

Confidence: high