Micron $MU ( ▲ 7.31% ) is starting the week the same way it closed the last one: moving higher. Shares were up about 2.6 percent as of 7:25 a.m. ET on Monday. The pop follows Susquehanna’s decision to lift its price target by 50 percent to 300 dollars while reiterating a positive rating.
The enthusiasm isn’t just local. Overseas memory stocks are ripping as well. South Korea’s SK Hynix rallied sharply, with NH Investment & Securities’ Shawn Oh telling Bloomberg that stronger pricing for HBM3e chips and renewed talk of potential ADR issuance drove the move. A local brokerage also raised its price target on SK Hynix, projecting the company’s operating profit will double this year on the back of rising memory prices.
ZDNet Korea reported that SK Hynix is delaying its HBM4 production ramp, partly to time the release with Nvidia’s $NVDA ( ▲ 3.74% ) upcoming Rubin chip. A slowdown in HBM4 rollout could tighten supply at the high end, which may support demand for Micron’s HBM3e chips in the interim and give Micron more breathing room as it develops its own HBM4 lineup.