Micron Shares Rise In Premarket

It's Benzinga bringing Wall Street to Main Street. Micron Technology shares rose more than 2% in Monday's pre-market trading as semiconductor stocks benefited from improving market sentiment, according to Benzinga. The gains came as social capital founder Chamath Palihapitiya questioned whether the memory industry's extraordinary profit growth can continue. Micron's fiscal 2026 revenue reached $133.2 billion, up from $37.4 billion the previous year. However, Palihapitiya warned that expanding production capacity could threaten profitability. Memory manufacturers are investing heavily in new factories, with additional capacity expected between 2027 and 2029. He also highlighted growing competition from China's CXMT and questioned whether artificial intelligence demand can prevent another industry downturn. Shares gained 2.35% to $905.49 in pre-market trading, according to Benzinga Pro Data. For all things money, visit Benzinga.com.