Micron rises after rival SK Hynix says it’s “sold out” all of its 2026 production already

Micron is rallying in premarket trading on Wednesday, up 3.7% as of 8:07 a.m. ET, as the memory chip specialist is lifted by its South Korean rival’s robust outlook.

SK Hynix achieved record quarterly results thanks to a pickup in both volumes shipped and its selling prices.

On the conference call, an SK Hynix executive said that capacity for high-bandwidth memory, dynamic random-access memory, and NAND (or flash) memory chips are all essentially “sold out” for 2026. Separately, management said that both its own and customer inventory levels have declined because of the speed of deploying AI infrastructure.

Both SK Hynix and Micron are suppliers to Nvidia, the recently minted $5 trillion chip designer.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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