Why Micron Stock Finally Popped Today

Micron’s stock surged 9.6% through 9:40 a.m. ET on Thursday morning after dropping more than 25% over the prior four trading days, drawing renewed attention to semiconductor memory momentum. The article cites HSBC’s view that recent swings have been driven by competing “narratives” around artificial intelligence. One theory suggests Chinese interest in memory markets—potentially tied to expectations of cheaper DRAM flooding the market—could pressure pricing; it points to the IPO of China’s CXMT raising $8.5 billion to expand production. Another explanation is “AI positioning capitulation,” where frustrated investors rotate out of semiconductors. A third theory credits optimism that AI hyperscalers are overspending on capacity, which could increase demand for memory even if revenues lag.