What Is Going on With Micron Stock on Friday?

Micron Technology Inc. (NASDAQ:MU) stock edged little higher in Friday premarket trading as investors reassessed AI-hardware exposure following NVIDIA Corp.’s (NASDAQ:NVDA) leadership transition, while S&P 500 futures rose 0.2%.

Micron has gained 16% over the past five days, while Nvidia has fallen 11% over the same period.

Nvidia Transition Pressures AI Chip Complex

NVIDIA said Jensen Huang resigned effective immediately as president, CEO and a board member.

The company named CFO Colette Kress interim CEO while its board searches for a permanent successor and appointed Harvey C. Jones as its first chair.

The transition pressured AI-linked semiconductor names Thursday, with the iShares Semiconductor ETF and VanEck Semiconductor ETF falling roughly 4%-5% as investors reassessed NVIDIA-linked exposure across the chip supply chain.

Baruch Highlights Valuation And Buybacks

Blue Line Capital founder and CIO Bill Baruch highlighted Micron as his final trade, pointing to its valuation and expected capital returns.

Baruch told CNBC that Micron “trades at four times” and added that “significant buybacks are coming down the pipeline.”

Technical Analysis

Micron remains in an intermediate pullback despite holding above its longer-term trend gauge.

The stock trades 6.1% below its 20-day SMA and 16.4% below its 50-day SMA, while remaining 3.7% above its 200-day SMA.

That setup leaves the shorter-term trend under pressure while the stock continues to hold above its longer-term moving average.

Earnings & Analyst Outlook

Micron’s next estimated earnings report is scheduled for Dec. 16, 2026.

• EPS Estimate: $35.07, up from $4.78 a year earlier
• Revenue Estimate: $56.55 billion, up from $13.64 billion a year earlier
• P/E: 10.7x

Micron carries a Buy consensus rating with an average price forecast of $1,622.38, based on 50 analysts, with forecasts ranging from $1,100 to $3,000.

Recent analyst actions include:

• Rosenblatt: Maintained Buy with a $1,900 forecast on Oct. 22
• Needham: Maintained Buy with a $1,650 forecast on Oct. 22
• Rosenblatt: Maintained Buy with a $1,900 forecast on Oct. 13

Top ETF Exposure

Micron carries an 8.73% weighting in the Invesco S&P 500 Momentum ETF (NYSE:SPMO), an 8.25% weighting in the State Street SPDR NYSE Technology ETF (NYSE:XNTK) and an 8.47% weighting in the Pacer Data and Digital Revolution ETF (NYSE:TRFK).

MU Price Action: Micron Technology shares were down 0.71% at $792.76 during premarket trading on Friday, according to Benzinga Pro data.

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