Micron, Galecto And Xenetic Lead This Week's Stock Ranking Surges - Galecto (NASDAQ:GLTO), Micron Technology (NASDAQ:MU), Xenetic Biosciences (NASDAQ:XBIO)

SK Hynix said it will invest 54 trillion won (about $38.1 billion) in two new DRAM and NAND plants in South Korea. About 35.2 trillion won will go to a Yongin DRAM/HBM fab and 19.1 trillion won to a Cheongju NAND site. The company said chips won’t ship until June 2029 at the earliest, with production timing tied to market demand.

Citi analyst Atif Malik cut Micron Technology’s (MU) price target 18% to $1,150 from $1,400 but kept a Buy rating, citing expectations that DRAM and NAND pricing will keep rising before momentum fades in 2027. Citi reduced fiscal 2027-28 earnings estimates and expects gross margins to fall from mid-80% toward mid-70% next year. Micron reported fiscal Q3 revenue of $41.46B and gross margin about 84.6%.

Micron (MU) and SanDisk (SNDK) fell Friday as investors reduced exposure to memory chips after Citi cautioned on DRAM and NAND pricing. Citi analyst Atif Malik kept a Buy on Micron but cut his price target to $1,150 from $1,400, citing moderating prices and longer-term risks from expanding Chinese production. Other chipmakers also declined.

Micron Technology (MU) fell 1.2% to $870.66 as Citi cut its price target by 18% to $1,150 while keeping a Buy rating. Citi cited decelerating DRAM and NAND prices and expects gross margin in the mid-70% range. The article notes MU has long-term DRAM pricing contracts, including 16 customer agreements worth $22B.

Intel, AMD and Micron shares hit 52-week highs as investors bought into AI-infrastructure related chip demand. Intel gained after reports Apple may use Intel foundries for future iPhone and Mac chips. AMD rose on Tuesday’s Q1 results, with $10.3B revenue (+38% YoY) and $5.8B data center revenue (+57% YoY), plus raised price targets. Micron also advanced amid tighter AI memory supply.

SK Hynix shares fell about 5% after its board approved about $38B (54 trillion won) for two new memory fabs in South Korea, including a DRAM plant (Yongin Y2) and a NAND plant (Cheongju M17). Seagate fell about 7% and Micron about 2%. SK Hynix cited structural AI demand and warned 2027 could bring a severe memory shortage.