Key Highlights

  • MU shares are indicated up 3.54% at $961.65 in premarket, against a prior close of $928.76.
  • SK hynix reported record quarterly profit and said DRAM and HBM supply is effectively sold out through 2029.
  • SK hynix signed long-term agreements with 14 customers covering over half of 2027 and 2028 capacity.
  • SK hynix guided to mid-20% DRAM demand growth in 2027.
  • Micron rose 2.77% on Tuesday.

Micron (NASDAQ:MU) shares are indicated up 3.54% at $961.65 in premarket, extending Tuesday's 2.77% gain to $928.76, as investors reacted to record results from fellow memory maker SK hynix and renewed optimism around the AI-memory cycle. Sentiment is also supported by Micron's recent blowout earnings, strong 2027 guidance and bullish analyst commentary pointing to longer-term supply agreements and sustained pricing power.

Micron, headquartered in Boise, Idaho, is one of the three largest global memory makers and the only major U.S. one. It makes DRAM, including high-bandwidth memory, NAND flash and SSDs, and NOR products for cloud and enterprise data centers, PCs, mobile devices, and automotive, industrial and consumer markets. It reports Cloud Memory, Core Data Center, Mobile and Client, and Automotive and Embedded segments and is led by CEO Sanjay Mehrotra.

SK hynix Sets the Tone

SK hynix (NASDAQ:SKHY) reported third-quarter revenue of 104.6 trillion won, up 328% from a year earlier, and operating profit of 83.3 trillion won at an 80% margin. It said its DRAM and HBM volumes through 2029 are effectively sold out and that shortages are expected through 2030.

The Korean maker also signed long-term agreements with 14 key customers covering over half of its 2027 and 2028 capacity, and expects mid-20% DRAM demand growth and high-10% NAND growth in 2027. Its Seoul shares closed up nearly 11% on Wednesday, and the Kospi rose about 6.6%.

What It Means for Micron

Micron's four-segment mix is tied to the same tight DRAM and HBM supply, so SK hynix's commentary on pricing power and sold-out capacity reads across directly. Investors are also watching the Fed decision and Alphabet and Microsoft earnings later today for signals on AI spending. The 52-week range runs from $192.59 to $1,255.00, and the stock remains below its high.