MU

Micron Technology Inc.

2026-01-16 09:03 PM

+7.55%

Micron surges on $100B New York megafab groundbreaking and $8M insider purchase

Micron broke ground on its $100 billion semiconductor manufacturing complex in New York, the largest private investment in the state's history, expected to create 50,000 jobs. Board member Mark Liu, former TSMC co-CEO, made an $8 million open-market stock purchase, 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 following TSMC's strong earnings and AI demand optimism earlier this week. The combination of a major strategic milestone (megafab groundbreaking with Commerce Secretary present) and significant insider buying from an industry veteran created a powerful catalyst. The stock hit an all-time high during the session, extending gains of roughly 13% over the past two trading days as memory shortage concerns and AI-driven HBM demand continue to benefit Micron specifically.

Sources

Date: 2026-01-16

Price: $362.40

Type: Stock Specific

Confidence: high