Micron surges more than 30% on week as memory chip rally goes parabolic

Micron Technology

shares caught fire this week amid a global shortage of memory chips, with momentum driving the stock on surging enthusiasm across the semiconductor sector.

Shares were up almost 14% to $734 in trading on Friday as of 2:20 p.m. ET. The stock has gained about 35% on the week and more than 80% in the past month.

Micron is on track for its best week since December 2008, when it was trading below $5 a share in the wake of the Great Recession. The company's market cap is currently above $820 billion, according to LSEG.

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Micron surges more than 30% on week as memory chip rally goes parabolic

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