Micron Technology Inc. (NASDAQ:MU) stock jumped on Thursday as investors welcomed the company’s expanded U.S. investment plans alongside a broad rally in semiconductor stocks.
The Nasdaq gained 1.42%, while the S&P 500 rose 0.58%. Technology led all sectors with a 2.49% advance.
Micron Expands U.S. Investment Plans
The company said Thursday it will increase its planned U.S. investments to more than $250 billion through 2035, driven by rising AI-related memory demand, while marking the first concrete pour at its Clay, New York, semiconductor fab ahead of schedule.
The company said the expanded investment supports its goal of producing 40% of its DRAM in the U.S. and follows a separate announcement of up to $3 billion strategic investment to strengthen the domestic semiconductor supply chain.
Micron said its New York project could create up to 50,000 jobs, while its broader U.S. manufacturing plans are expected to support more than 90,000 jobs nationwide.
The announcement added to an already strong day for semiconductor stocks, as investors continued rotating into AI-related technology names.
Technical Picture Remains Bullish
Micron remains in a strong long-term uptrend. The stock is trading about 14.4% above its 50-day simple moving average (SMA), 55.8% above its 100-day SMA and 121.2% above its 200-day SMA. The bullish moving average crossover structure also remains intact.
In the short term, Micron is trading about 3% below its 20-day SMA, suggesting Thursday’s rally is helping the stock recover toward its near-term trend.
The relative strength index (RSI) stands at 51.86, indicating the shares are neither overbought nor oversold.
The next resistance level is around $1,089.50, while support is near $991.
MU Stock Price Activity: Micron Technology shares were up 7.49% at $1019.91 at the time of publication on Thursday, according to Benzinga Pro data.
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