12 Information Technology Stocks Moving In Thursday's Pre-Market Session

SK Hynix’s board approved Aug 7, 2026 capital of ₩54.3T ($38.0B) for two South Korea fabs. Yongin Y2 DRAM fab gets ₩35.2T ($24.6B) and Cheongju M17 NAND fab gets ₩19.1T ($13.4B). First meaningful output is no earlier than 2029. Article cites US has no HBM wafer capacity and packaging grants cover assembly, not wafers.

Micron (MU) reported revenue of $41.46B, GAAP net income of $28.24B, and operating cash flow of $25.39B. It guided fiscal Q4 revenue to about $50B (±$1B) with gross margin near 86%. Citi cut its MU price target, citing slower DRAM and NAND pricing and margin pressure, and noted fab startup delayed to 2030.

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.