Micron Technology (MU) shares fell 1.99% to $391.70 in afternoon trade on Monday, after reports said Samsung is nearing Nvidia certification for its HBM4 AI memory chips, raising competitive pressure in the high-bandwidth memory segment.
The stock had surged about 18.72% between January 15 and January 23, far outpacing the S&P 500’s 0.42% decline over the same period.
The pullback followed a report that Samsung is nearing Nvidia certification for its HBM4 AI memory chips, intensifying competition in high-bandwidth memory used in Nvidia’s AI accelerators. The report also said Samsung and SK hynix are looking to raise server memory prices by up to 70% as surging AI demand strains global supply, even as Samsung denied rumors of an 80% price hike across its memory products.
According to Seeking Alpha’s Quant Rating system, Micron is rated Strong Buy with a score of 4.99 out of 5, with grades of A+ in growth, profitability, and momentum, a B+ in revisions, and a B in valuation.
Seeking Alpha analysts also suggest buying the stock.
Turning to Wall Street, 37 out of 43 analysts rate the stock Buy or higher, four rate it Hold, and two rate it Strong Sell.
An analyst said MU remains a buy as it is positioned in a “super-upcycle driven by AI demand across data centers, mobile, and industrial markets,” noting that Q1’26 revenue surged 57% year over year and that its high-bandwidth memory volumes for 2026 are already sold out. The analyst added that Micron plans to raise fiscal 2026 CapEx to about $20B to expand HBM and DRAM supply, and said a forward PEG of 0.24 indicates the stock is undervalued despite recent gains.
The stock remains up 38.23% year-to-date and has inched 37.35% higher over the past month.