Micron Technology (MU) stock rose 4.06% on Wednesday to close at $1,088. The memory maker led the S&P 500 electronic technology sector while most chipmakers ended the session lower.
Nvidia, AMD, Texas Instruments, and Qualcomm all finished in the red. Micron has gained roughly 280% since the start of 2026.
Siebert CIO Says Micron Stock Can Outrun the Avalanche
Mark Malek, chief investment officer at Siebert Financial, rejected the idea of holding Micron forever. However, he called it a buy right now, citing its control of a key part of the AI ecosystem.
“This is a company that will continue to outrun the avalanche.”
Malek also pointed to Nvidia’s reliance on Micron’s memory.
“Everyone’s favorite company, NVIDIA, mine included… is beholden to Micron. It’s part of their chipset. So without a boring company like Micron, they can’t sell a chipset.”
Why Micron Keeps Growing
Micron reported fiscal fourth-quarter revenue of $54.23 billion on September 30, beating its own $50 billion guidance. Gross margin reached 87%.
The company guided fiscal first-quarter 2027 revenue to $61.5 billion. Moreover, it has contracted the vast majority of its 2027 high-bandwidth memory (HBM) supply at higher prices.
HBM sits beside Nvidia’s AI processors. Micron produces HBM4 for Nvidia’s Vera Rubin platform and is co-developing a custom HBM4E version.
Meanwhile, Micron said it has no line of sight to when DRAM supply and demand will balance. Rival Samsung faces similar demand pressure. Still, MU trades at around six times expected fiscal 2027 earnings.
AI Capex Remains the Avalanche
Malek warned that a slowdown in AI capital expenditure (capex) would hit the whole sector. In his view, companies like Micron would struggle the most.
That risk has already surfaced once. Memory stocks fell into a bear market in July, with MU dropping about 30% from its high. Temasek has also flagged an AI trade unwind as the top market risk.
Micron is also spending heavily, planning around $25 billion in capex for the first half of fiscal 2027.
Micron Stock Price Prediction Points Toward $1,500
MU broke out of a symmetrical triangle on September 3. The price retested the breakout on September 14 near the 0.618 Fibonacci level at $894.58.
That retest confirmed the zone as support (blue circle). The stock has since reclaimed the 0.786 Fibonacci area near $1,053, which previously acted as resistance.
On Wednesday, MU dipped to $1,011 intraday before closing at $1,088, near the session high. The bounce came as the broader market pulled back from record highs.
Volume broke above a descending trendline on October 1 (purple ellipse). The Relative Strength Index (RSI) sits near 60 and is rising, suggesting bulls retain momentum.
The first target is the all-time high of $1,255, about 15% above the close. The triangle’s measured move points to $1,516, near the 1.272 Fibonacci extension at $1,511.63.
That implies roughly 39% upside. However, a daily close below $1,040 would undo the reclaim and could expose $1,000 and then $895.
The post Siebert CIO Says Micron Stock Is a Buy, Just Not Forever appeared first on BeInCrypto.
