# Micron (MU) Stock Gains Momentum Following SK Hynix's Massive $38B Chip Investment Announcement

_Friday, August 7, 2026 at 8:00 AM EDT · Infrastructure · Latest · Tier 2 — Notable_

![Micron (MU) Stock Gains Momentum Following SK Hynix's Massive $38B Chip Investment Announcement — Primary](https://blockonomi.com/wp-content/uploads/2026/08/Micron-1-1-scaled-1.webp)

Micron Technology shares rose about 1.6% in Friday premarket trading to $895.50 after South Korean rival SK Hynix authorized a $38.15 billion investment in new semiconductor fabrication plants. The SK Hynix board approved spending of 54.3 trillion won for new manufacturing facilities in South Korea.

The gain followed a decline Thursday when memory chip stocks fell after quarterly reports from SanDisk and Western Digital. Nasdaq futures rose 0.43% and S&P 500 futures advanced 0.18% Friday, providing broad support for large-cap technology shares.

Industry analysts said significant new memory production capacity will not be operational for at least 12 months. Micron's own $100 billion New York plant announced in 2022 is not expected to begin operations until 2030. The extended supply timeline supports the investment case for Micron as AI-related hardware demand grows.

Micron shares have surged over 600% in the trailing twelve months. Wall Street's mean price target stands at $1,548.86. The company's next quarterly report is expected around Sept. 22 with consensus estimates of $31.24 earnings per share and $50.72 billion in revenue.

## Sources

- [Blockonomi](https://blockonomi.com/micron-mu-stock-gains-momentum-following-sk-hynixs-massive-38b-chip-investment-announcement/)

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