Micron Technology shares rallied following warnings of prolonged global memory shortages. Apple CEO Tim Cook described current memory pricing as a 100-year flood. Samsung projected that memory supply deficits could persist through 2028.
Moody’s Investors Service upgraded Micron’s senior unsecured notes to Baa1 from Baa2. The rating agency cited improved revenue visibility and strategic customer agreements for the upgrade. Micron also reached a construction milestone at its new manufacturing facility in New York.