Micron Shares Jump 41% in April as SOX Hits 30% Rally
Micron shares surged 41% in April as the Philadelphia Semiconductor Sector Index rallied 30% over 13 days, marking the largest semiconductor rally since 2002. Morgan Stanley rated Micron Overweight, citing tight data center memory supply through 2027 and emerging long-term hyperscaler agreements.
1. SOX Rallies to Dot-Com Bubble Levels
The Philadelphia Semiconductor Sector Index climbed 30% over 13 days, marking its largest surge since March 2000. That rally pushed the index more than 16% above its 50-day moving average and to a 52-week high, lifting Micron shares 41% in April.
2. Morgan Stanley Overweights Micron for Memory Strength
Morgan Stanley assigned an Overweight rating to Micron, highlighting tight data center memory supply conditions expected through at least 2027. The firm pointed to emerging long-term supply agreements with hyperscale cloud customers as key catalysts for sustained memory demand.