Micron Surges 5%+ to Lead Semiconductors: Can Rally Hold?
MU jumped +5.6% to ~$524, named alongside NVDA and SNDK as a top market winner, driven by sustained HBM demand from AI server buildouts triggering a valuation re-rating. Tight MU HBM3e supply and accelerating data center expansion confirmed by multiple cloud vendors continue to underpin the memory bull cycle. However, industry warnings are mounting: the semiconductor index's 18-session winning streak has ended, and profit-taking pressure is building at elevated levels. If Big Tech earnings disappoint on HBM procurement outlook this week, can Micron's $500+ valuation stand on its own?