New York, February 12, 2026, 07:52 EST — Premarket
- Micron shares extend a sharp rally after an executive update on HBM4 production and shipments
- The move lands as Samsung and SK Hynix step up next-gen AI memory rollout
- Next check-in is Micron’s mid-March earnings slot, where investors will press for volume and pricing detail
Micron Technology, Inc. shares were up 3.2% at $423.61 in premarket trading on Thursday, adding to Wednesday’s 9.9% surge to $410.34, after investors latched onto comments that its next-generation HBM4 memory is already shipping. (Investing)
The timing matters because high-bandwidth memory is not a side business anymore. HBM is a stacked DRAM product that sits next to AI processors to move data faster, and it tends to carry higher prices than standard memory when supply is tight.
This is also a market that trades on calendars. If one supplier slips a quarter, big customers can shift orders quickly — and the winners get baked into next year’s build plans long before the revenue shows up.
Micron CFO Mark Murphy told investors the company has “commenced customer shipments of HBM4,” calling it “a quarter earlier” than what Micron had laid out in December. Executives also pushed back on what Murphy described as “inaccurate reporting,” while Lynx Equity Strategies analyst KC Rajkumar said the update should “put to rest the noise” around Micron’s HBM4 readiness. (Investing)
Micron’s investor relations site lists the Wolfe Research Auto, Auto Tech and Semiconductor Conference as a Feb. 11 event and links to the webcast. (Micron)
Rivals are not standing still. Samsung Electronics said it has started shipping its most advanced HBM4 chips to customers, and its chip chief Song Jai-hyuk said feedback had been “very satisfactory.” Samsung said the chips run at 11.7 gigabits per second and can reach 13 Gbps, while Samsung shares rose 6.4% in Seoul. (Reuters)
Analysts are already moving their numbers. Morgan Stanley raised its price target on Micron to $450 from $350 and kept an Overweight rating, Barron’s reported. (Barrons)
For traders, the next question is simple: does “shipping” turn into sustained volume, and at what price. Any sign that customers are qualifying multiple suppliers — Samsung, SK Hynix, Micron — can move the stock just as fast in the other direction.
But the downside case hasn’t gone away. Memory remains cyclical, and a fast ramp can still run into yield hiccups, customer qualification delays, or demand pauses if AI server spending slows.
Micron’s next earnings report is expected on March 18, according to Yahoo Finance’s earnings calendar, a date investors will use to press management on HBM4 volumes, DRAM and NAND pricing, and how much new capacity Micron plans to add into 2026. (Yahoo)
