As of 8:40 a.m. on Monday, Micron Technology’s stock price approached $125 ahead of the stock market opening for the day.
The stock is expected to open more than 5% up for the day, as investors react favorably to the company increasing its fourth-quarter revenue forecast.
The company now expects revenue of $11.2 billion, plus or minus $100 million, compared with its previous forecast of $10.7 billion, plus or minus $300 million.
Micron, Nvidia and other chip manufacturers which have invested heavily in the U.S were spared last week from a 100% chip tariff by the Trump Administration. The stock increased off that favorable news also.
It continues a rally of more than 12% the past week for Micron.
Micron is set to break ground this fall on its semiconductor plant in Clay.
