Micron stock rose 5.55% to $980.33 during US trading on October 28, 2026, after fellow memory-chip maker SK hynix reported record quarterly results and outlined strong future demand. The price was an intraday observation, not a closing price.
Key Takeaways
- Micron traded at $980.33, up from its October 27 close of $928.76.
- SK hynix said long-term agreements covered more than half of its 2027 and 2028 production capacity.
Micron stock gains during US session
Micron Technology shares were quoted at $967 in premarket trading at 09:41 UTC, up 4.12%. They later reached the $980.33 intraday observation. SanDisk shares also rose in premarket trading, gaining 4.4% to $1,362.24.
The gains followed SK hynix’s earnings announcement, although the available information does not establish what caused the moves.
SK hynix reports record results and future demand
In its preliminary third-quarter results, SK hynix reported revenue of 104.6155 trillion won and operating profit of 83.3338 trillion won, both quarterly records. The company said operating profit rose 632% from a year earlier and its operating margin was 80%. The figures are subject to change during the independent audit.
At its earnings briefing, SK hynix said its DRAM and high-bandwidth memory output was effectively sold out through 2029 when existing long-term agreements and customer demand under detailed negotiation were considered. That broader assessment includes business still being negotiated, not just signed contracts.
In its quarterly earnings announcement, SK hynix said signed long-term agreements covered more than 50% of total production capacity for 2027 and 2028. The company also expects memory demand to exceed supply through 2030; that is its outlook, not a guaranteed outcome.
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