Micron Surges 18% as Samsung's Comment Sparks Full Memory Market Counteroffensive

The familiar Micron (MU-US) stock is back in the spotlight! According to Barron's, Micron surged 18.4% on Thursday (30th). The stock had plummeted 25% over the previous four consecutive trading days through Wednesday, and even including Thursday's gain, it remains down over 20% since July.

Samsung, the world's largest memory chip manufacturer and Micron's competitor, released its earnings report on Thursday, which significantly exceeded market expectations: operating profit soared 1,814% year-on-year, revenue hit a record high, and the company warned that memory supply shortages will persist until 2028.

Samsung's earnings were expected to act as a catalyst for a rebound in memory stocks, and that rebound appears to have begun on Thursday.

Not only did Micron surge strongly, but SK Hynix (SKHY-US) also jumped 17.5%.

Optimistic remarks from Jaejune Kim, head of Samsung's memory business, clearly boosted market confidence.

During Samsung's earnings call, he stated, 'We expect supply constraints in 2027 to be more severe than in 2026, further reinforcing our view that memory shortages will continue through 2028.'

However, Samsung's stock was also affected by market concerns over the memory outlook. Samsung closed down 0.7% in South Korean trading, despite having risen as much as 8% intraday.

Micron had declined on Wednesday due to disappointing earnings from SK Hynix, but Samsung's strong performance may now serve as the long-needed starting point for a rebound in memory stocks.