Micron Technology Inc is trading at $929.79, up 4.3% in pre-market action, outperforming the broader tech sector's rebound. The gains follow a significant company announcement and recovery from yesterday's semiconductor selloff.
- On June 10, Micron announced it selected Bechtel as the construction partner for the first phase of its massive new memory manufacturing complex in Clay, New York.
- The project is described as the largest private investment in New York state history and is expected to become the nation's largest semiconductor manufacturing facility, creating an estimated 50,000 jobs.
- The positive company news is compounded by a broader rebound in tech stocks after a recent AI and semiconductor-led selloff.