Micron Shares Dip 2.3% as Samsung Supplies Nvidia HBM4 Chips
Micron shares fell 2.3% after Samsung agreed to supply Nvidia with next-generation HBM4 memory chips starting next month, potentially weakening Micron’s competitive position in high-bandwidth memory. The stock retraced from a record $412.43 and could halt its six-day winning streak despite a 534.3% rally since last April’s $61.54 low.
1. William Blair Maintains Outperform Rating
On January 27, 2026, William Blair reaffirmed its “Outperform” rating on Micron Technology, citing the company’s leadership in DRAM, NAND and NOR memory products. The analyst commentary highlighted Micron’s attractive P/E ratio of 11.7, significantly below industry peers, and emphasized that the valuation gap creates a compelling entry point for investors as AI-driven memory demand accelerates.
2. $24 Billion Singapore Expansion to Boost Capacity
Micron broke ground on a state-of-the-art wafer fabrication facility in Singapore, representing a planned investment of approximately $24 billion over the next decade. The new plant will add 700,000 square feet of clean-room space, begin production in the second half of 2028, and create around 1,600 new jobs. This expansion addresses persistent supply constraints in high-bandwidth memory (HBM) and NAND markets and co-locates R&D with manufacturing to accelerate technology transitions.
3. Surging HBM Demand Drives Revenue and Earnings Growth
High-bandwidth memory demand has powered a significant revenue acceleration for Micron in recent quarters, with the company reporting double-digit year-over-year revenue growth and margin expansion. Institutional data shows Micron’s market capitalization exceeds $460 billion, and trading volume recently topped 33 million shares in a single session. Analysts project continued upside as hyperscale data-center spending shifts increasingly toward memory and storage components.