It happened so that you and I somehow lost sight of Micron Technologies shares, which entered a kind of oblivion area for a month or two after the company's non-inspiring earnings release at the end of March. At that time, Wall Street was not satisfied with Micron's own projections for the rest of the year as well, which added an extra negative impulse to the previous stagnation at double-digit discount levels. As a result, the value of Micron dipped even below $75 per share. But later on, a general recovery trend of the AI-based asset pool gradually brought Micron shares to the surface, and the latest news surrounding the company helped much to heat a persistently bullish sentiment.

Micron Technology's next quarterly report is coming out next Wednesday, June 25. In the meantime, for almost a week now, Micron has been providing a super newsworthy precedent for everybody in the market to believe that Micron is yet another tech company that will perform strong this year. Micron together with Donald Trump's administration surprisingly announced expanded US investments into leading-edge DRAM manufacturing. For those living under a rock, DRAM is dynamic random access memory, a type of random-access semiconductor structure to store each bit of data in a memory cell. In short, all this is again about increasing demand for modern chips, but this time taking into account government needs and support.

An initiative leads Micron’s chip ambitions further beyond its previously supposed plans by $30 billion, which is going to include building of an additional memory fabrication facility in the US state of Idaho, and a modernization of its existing plant in Virginia. The company also promised to provide advanced packaging capabilities for HBM (high bandwidth memory) to the U.S., targeting faster growth in the AI segment. The expanded network of factories includes six high-volume fabs across Idaho and New York, while Micron now wants to produce 40% of its all DRAM volumes in the US. Construction on Micron’s first fab in Idaho is already underway, with production slated to start in 2027. All in all, the total investment would be around $200 billion, according to Micron CEO Sanjay Mehrotra who said this "will reinforce America’s technological leadership, create tens of thousands of American jobs across the semiconductor ecosystem and secure a domestic supply of semiconductors—critical to economic and national security”. Everything that the current White House team likes, which should free Micron from tariff problems and maybe even add tax breaks.

Industry colleagues and partners are also delighted, including Nvidia CEO Jensen Huang who already noted that “Micron’s investment in advanced memory manufacturing and HBM capabilities in the US, with support from Trump Administration, is an important step forward for the AI ecosystem,” as well as Microsoft CEO Satya Nadella who said that “strengthening semiconductor manufacturing in the US will drive new innovation, create high-skilled jobs, and further American competitiveness." Are there any other components needed for another wave of a big hit? If only boring sales and profit numbers in June 25's earnings report don't disappoint the investing crowd, and it seems that everything will work out exactly along that positive way, then Micron's further rally is in the bag. Again, from a purely technical viewpoint, when looking at daily and weekly charts, the stock is clearly not ready to stop right there. Those stranger tides around $120 per share may provide only a temporary haven to pause and rethink on the way before proceeding to higher goals. Pre-market trading today is already at $123. I assume that a quick repeat of $150+ tops is not far off, and maybe even by the beginning of autumn. The intermediate berth around $120 will quickly remain behind the stern.