Micron rides memory price spike into earnings with stock up 62%, drubbing its tech peers

Micron Technology's stock has surged 62% in 2026 due to a severe shortage of memory chips (computer components that store data temporarily) needed for AI graphics processing units (GPUs, specialized chips that power artificial intelligence). The shortage is driven by massive demand from cloud companies like Amazon and Google building AI data centers, and SK Hynix estimates the memory crunch will continue for another four to five years, pushing prices higher across the industry.