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Micron has become a standout favorite during the ongoing memory chip rally as tech companies scramble to secure supply amid shortages.
The stock is up yet again on Monday even as the overall market is sagging on rising energy prices and concerns of renewed fighting between the US and Iran.
Shares of Micron were up 5% in premarket trading as S&P 500 futures were set to open lower. There was very little green on the board besides chip stocks and energy stocks because of a rise in oil. Intel is up more than 5% and Qualcomm is up more than 3% in early trading.
Micron shares are up 11 of the last 15 sessions. Since the end of March the shares have more than doubled.
