Micron Stock Leads Chip Rebound. Dip Buyers Buckle Up. -- Barrons.com

By Jack Denton

Shares of Micron Technology rose Friday as chip stocks rebounded to cap a week of volatile trading.

With Micron stock far below its June record high, and analysts remaining bullish on the memory specialist, dip buyers could see an opportunity. But the chaos may not be over just yet.

Micron stock advanced 3.5% to $886.14 on Friday. Shares ended Thursday down 6.3% as chip stocks have been selling off as worries over the sustainability of spending on the artificial-intelligence boom have continued.

Shares of Micron have declined nearly 16% this month, but the stock on Friday was leading chip stocks higher, outpacing the widely followed iShares Semiconductor ETF (SOXX), which rose 1.3%.

Micron stock has lost more than 30% since its red-hot run to a record high of $1,255 in June, though the shares remain up more than 200% this year.

Analysts still love it, seeing the company as a key beneficiary of the memory bottleneck in AI.

"The company positions memory as the binding constraint on AI system performance as inference workloads raise bandwidth, capacity, and power requirements," Karl Ackerman, an analyst at BNP Paribas Equity Research, wrote in a note on Thursday, adding that Micron expects supply tightness across memory to last for at least the next two years.

BNP Paribas rates Micron stock at Buy with a $1,700 price target -- implying the share price should almost double from its current level.

Similar calls came from other analysts this week following an event hosted by Micron where the company outlined its road map for the memory sector.

All this bullish sentiment is no doubt stirring considerations of buying the big dip in Micron stock. But as this week has made clear, investors should be ready for a roller coaster.

The long-term memory outlook may be strong, but AI spending worries are unlikely to fade fast, nor are higher bond yields and mounting debt concerns.

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

October 23, 2026 12:38 ET (16:38 GMT)