What Micron Stock Needs to Mount a Serious Rally -- Barrons.com

By Adam Clark

Micron Technology stock has bounced off its lows but the memory-chip company needs more impetus to reach its shares' previous heights. Greater clarity on the future of Nvidia and from Democrat politicians regarding data-center policies will be essential to fuel more gains.

Micron shares declined 4.4% at $763.71 on Friday. The stock fell 1.6% on Thursday, hit by the resignation of Nvidia CEO Jensen Huang, but has risen 16% over the past five trading sessions.

It isn't that Micron's deals with Nvidia depends on who is CEO, but the worry is that the chip maker will stop funding the wider artificial-intelligence ecosystem under a new leader. Nvidia's coming earnings report on Tuesday could provide some reassurance on that front if interim CEO Colette Kress reaffirms the company's commitment to funding AI deals.

Micron also needs clarity about whether Democrats will block data centers after their sweeping victories in the U.S. midterm elections. Look out for comments from Texas Governor-elect Gina Hinojosa, who has called for a lasting moratorium on data-center construction in Texas -- a key hub for AI facilities.

Finally, Micron can start major stock buybacks from Dec. 9 -- Barron's previously estimated it could buy back $100 billion of stock in its current fiscal year ending in August 2027, which would be more than 10% of its current equity market value.

If everything falls into place, Micron's rally should have a lot further to run.

Write to Adam Clark at adam.clark@barrons.com

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November 13, 2026 12:49 ET (17:49 GMT)