New York, Feb 13, 2026, 09:52 (EST) — Regular session.
Shares of Micron Technology (MU.O) slipped roughly 3.1% to $401.07 during Friday morning trading, cooling off after a rapid rally for the U.S. memory-chip maker. So far, the stock has moved in a range from $393.50 up to $417.50.
Micron is getting tugged in both directions: chip prices are climbing on a deepening memory shortage, but suppliers are also hustling to roll out HBM4, a pricier chip paired with AI accelerators. China’s Lenovo—the biggest PC maker globally—flagged on Thursday that this shortage is squeezing PC shipments. The company has bumped up prices to cover higher costs. “We expect PC unit sales to face pressure,” CEO Yang Yuanqing told Reuters. (Reuters)
Lenovo’s memory expenses climbed 40% to 50% last quarter, with contract prices possibly set to double in the current quarter, Yang told Bloomberg. (Bloomberg)
Micron’s CFO Mark Murphy, speaking at a Wolfe Research conference, said the firm is already in “high volume” HBM4 production and has “commenced customer shipments.” Volumes are picking up this quarter, he noted. “This is a quarter earlier” than Micron had indicated back in December, Murphy pointed out, reiterating the expectation that supply will remain tight past 2026. (Investing)
The race is on. Samsung Electronics announced Thursday it has begun shipping HBM4 chips to customers, touting transfer rates of 11.7 gigabits per second—and aiming for 13. The company says samples of its upcoming HBM4E are scheduled for the second half of 2026. Reuters, meanwhile, noted that SK Hynix, which currently leads in advanced HBM, is gearing up its own HBM4 lineup as all three major players target surging AI data-center demand. (Reuters)
Analysts aren’t wasting time. Barron’s noted that Morgan Stanley’s Joseph Moore bumped his price target on Micron to $450 and maintained an Overweight call, arguing the chipmaker stands to join SK Hynix in supplying HBM4 to Nvidia’s coming AI lineup. (Barron’s)
The memory business doesn’t leave much room for error. Should PC demand pull back harder than forecasts suggest, or if suppliers ramp up capacity too quickly, pricing can whipsaw—today’s tailwind easily flipping into a glut of inventory.
Right now, traders have their eye on contract pricing talk, customer sign-offs for HBM4, and just how much of the coming AI capex might actually hit DRAM and NAND orders—instead of just fueling more GPU buys.
Back in December, Micron surprised Wall Street by projecting quarterly profit and revenue ahead of expectations, and bumped up its 2026 capital spending target to $20 billion. The chipmaker is wagering that AI data centers will continue snapping up chips, despite patchy consumer demand. (Reuters)
Micron’s next earnings report lands March 18, per Yahoo Finance’s calendar. There’s plenty of focus on updated outlooks for HBM4 volumes, pricing, and capex. (Yahoo)
