Why Micron Stock Is Jumping Today

Source The Motley Fool

Micron (NASDAQ: MU) stock is moving higher in Friday's trading. The memory chip and storage solutions company's share price was up 4.1% as of 3:45 p.m. ET. The stock had climbed as high as 5.3% earlier in the day's trading.

Micron is seeing bullish momentum today following news that Meta Platforms is gearing up for a big investment in humanoid robots. Meta's big robotics play could wind up being a significant performance driver for the memory specialist.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »

Micron stock climbs on Meta's robotics push

Bloomberg published a report today stating that Meta plans to make a big play in the humanoid-robot space. Nvidia uses Micron's memory chips as components in its high-performance graphics processing units (GPUs) for data centers and artificial intelligence (AI) applications.

Nvidia's advanced GPUs are the key hardware powering bleeding-edge AI software. Meta Platforms is also estimated to be Nvidia's second-largest customer. With Meta seemingly setting out on a new tech venture that will require substantial new computational resources, Micron could have a major new demand catalyst on the horizon.

What comes next for Micron?

The rise of robotics looks to be a substantial long-term performance catalyst for Micron. Meta's robots will almost certainly include substantial amounts of onboard computing hardware, but much of the key AI features will likely be run through cloud computing that uses Nvidia's GPUs. It's also possible that the company's robots could wind up making use of Micron's storage and memory chip solutions for onboard hardware.

With today's gains, Micron stock is now up approximately 22.5% over the last year. On the other hand, the company's share price is still down roughly 35% from the high that it reached earlier this year.

For investors looking for pick-and-shovel plays in the AI and robotics spaces, Micron continues to look like a smart long-term investment.

Don’t miss this second chance at a potentially lucrative opportunity

Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.

On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:

  • Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $350,809!*
  • Apple: if you invested $1,000 when we doubled down in 2008, you’d have $45,792!*
  • Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $562,853!*

Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon.

Learn more »

*Stock Advisor returns as of February 3, 2025

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Keith Noonan has positions in Micron Technology. The Motley Fool has positions in and recommends Meta Platforms and Nvidia. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold sits near record high as Fed rate cut bets keep USD depressedGold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
Author  FXStreet
Sep 16, Tue
Gold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
placeholder
Bitcoin could rally alongside S&P 500 if Fed cut ratesBitcoin (BTC) could be poised for a price surge following its positive correlation with the S&P 500, as market participants anticipate a 25-basis-point rate cut from the Federal Reserve on Wednesday.
Author  FXStreet
22 hours ago
Bitcoin (BTC) could be poised for a price surge following its positive correlation with the S&P 500, as market participants anticipate a 25-basis-point rate cut from the Federal Reserve on Wednesday.
placeholder
AUD/JPY Price Forecast: Constructive outlook remains in play above 97.50The AUD/JPY cross extends the decline to near 97.80 during the Asian trading hours on Wednesday.
Author  FXStreet
20 hours ago
The AUD/JPY cross extends the decline to near 97.80 during the Asian trading hours on Wednesday.
placeholder
Gold pulls back from record highs as USD recovers ahead of Fed decisionGold (XAU/USD) attracts some sellers during the Asian session on Wednesday and moves away from the all-time peak, levels just above the $3,700 mark touched the previous day.
Author  FXStreet
20 hours ago
Gold (XAU/USD) attracts some sellers during the Asian session on Wednesday and moves away from the all-time peak, levels just above the $3,700 mark touched the previous day.
placeholder
Federal Reserve set to resume interest-rate cuts as concerns over labor market mountThe US Federal Reserve is expected to cut the policy rate for the first time in 2025.
Author  FXStreet
16 hours ago
The US Federal Reserve is expected to cut the policy rate for the first time in 2025.
goTop
quote