Micron (MU) Stock Jumps for Second Day After Nvidia (NVDA) Mention

Micron Technologies (MU) is climbing for a second straight day after Nvidia (NVDA) noted that it was using MU’s chips in its new products. After advancing 10.5% yesterday, the shares are climbing 6% today.

Nvidia CEO Jensen Huang reported yesterday that Micron’s high-bandwidth-memory (HBM) chips were being incorporated into NVDA’s new GeForce RTX 50 Blackwell gaming chips.

10 Important AI Announcements for Investors

Considered a key component of AI, HBM has been an important growth engine for Micron. During the company’s fiscal first-quarter earnings call, held on Dec. 18, Chief Business Officer Sumit Sadana noted that HBM, combined with SSD chips, had enabled the company’s revenue from data centers to soar 400% versus the same period a year earlier during the quarter. Adding that HBM had become a multiple billion-dollar business, Sadana noted that more than half of the company’s revenue was being generated by data centers.

Foxconn’s Strong Results and Micron’s Presence on Evercore’s List

MU stock was also likely lifted yesterday by the slightly stronger-than-expected Q4 results reported by electronics maker Foxconn.  The largest manufacturer of Apple’s (AAPL) iPhones, Taiwan-based Foxconn reported Q4 sales of 2.13 trillion  New Taiwan dollars or $65 billion.  Analysts had expected the company’s revenue to come in at 2.1 trillion New Taiwan dollars, according to an average compiled by LSEG SmartEstimate. Micron sells chips to Apple.

Also yesterday, Micron was included on a list of stocks called  “AI Enablers, Adopters and Adapters.”  Compiled by investment bank Evercore ISI, the list includes members of the Russell 3000 index whose market caps are above $3 billion and whose previous earnings calls include more references to AI than average for Russell 2000 members in the previous four quarters.