Micron Technology shares gained momentum after Moody's upgraded its credit rating. The company also announced it will officially break ground on its new $100 billion semiconductor megafab in New York on January 16.
Moody's cited Micron's strong competitive position. The agency also noted robust demand for memory products, specifically those used in artificial intelligence systems, as key reasons for the upgrade.
The New York facility is set to be the largest in the U.S. This upcoming groundbreaking signals a major step in the company’s expansion plans to meet future demand.
Micron's high-bandwidth memory (HBM) chips are already sold out for 2026, underscoring the tight supply environment. Following these developments, analyst firms including Piper Sandler and UBS recently increased their price targets on the stock.