Micron Reclaims $1,000 as GPT-6 Astra Lifts Chips — SkimNews
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- Micron Technology closed above $1,000 for the first time since Aug. 17, gaining 6.1% to $1,016.59 on Friday and ending the week up 9%.
- The stock rose even as the S&P 500 fell 0.4%, the Dow fell 0.5%, and the Nasdaq fell 0.3% after a stronger-than-expected jobs report — Micron bucked the broader market selloff.
- OpenAI's GPT-6 Astra launch drove renewed AI-infrastructure buying after the model performed well on early benchmarks, which Barron's says could ease concerns about OpenAI's $1.4 trillion in spending commitments.
- Sandisk surged 11.9% to become the S&P 500's best-performing stock of the session, while SK Hynix ADRs added 8.1%, confirming the rally was sector-wide rather than a Micron-only move.
- Despite Friday's gain, Micron is still down 20% from its June peak and has been hugging its 50-day moving average around $935 since mid-August — Barron's flags that level as either support or resistance.
- Micron's fiscal Q4 earnings, due Sept. 30, could produce a decisive breakout; Barron's previously argued the stock could double when it was trading near $1,100.
Why it matters: Friday's bounce offers short-term relief after Micron's 20% peak-to-trough slide, with Sandisk (+11.9%, best in the S&P 500) and SK Hynix (+8.1%) confirming sector participation. The $935 50-day moving average and Micron's Sept. 30 earnings are the binary catalysts — a decisive break validates the AI trade, while failure confirms the June peak as a top.
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