Micron began the week around USD 294 and surged to an all time high of USD 346.30 on January 7, a jump of over 17% in just 2 days of trading. This was driven by Nvidia's CES 2026 announcement and analyst upgrades based on projected price hikes of 60-70% for HBM chips, with Piper Sandler setting price targets as high as USD400.
However Micron experienced a sharp reversal and fell to USD 327.02 by market close on January 8.
This is a good example of the high risk, high reward nature of chasing growth at these levels.
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