What happened: Micron (MU) stock jumped nearly 10% on Monday following a one-day market plunge.
What’s behind the move: The memory chip maker was on track to recover some of Friday’s losses after its shares plunged 13% alongside a broad market sell-off that sent both the Nasdaq Composite (^IXIC) and the S&P 500 (^GSPC) plummeting.
Micron has been a semiconductor leader this year, surging more than 200% year to date.
The rest of the chip complex was poised to rebound on Monday, including memory and storage maker SanDisk (SNDK) and AI chip manufacturers Nvidia (NVDA) and AMD (AMD).
What else you need to know: Memory has been a major bottleneck in the artificial intelligence trade, with demand expected to surge into 2027.
Micron has been a leader within the semiconductor complex, pushing the broader markets to all-time highs in recent weeks.
Last month, Micron Technology, Samsung Electronics (005930.KS), and SK Hynix (000660.KS) all made headlines as they reached $1 trillion valuations for the first time.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
Click here for the latest technology news that will impact the stock market
Read the latest financial and business news from Yahoo Finance
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
