Micron Technology, Inc. (NASDAQ:MU) stock rose about 3% in premarket trading Thursday as improving risk appetite and stronger U.S. equity futures lifted semiconductor stocks.
Market Tailwinds Support Momentum
The broader market provided support for the move. Nasdaq futures gained 1.27%, while S&P 500 futures advanced 0.75%. The stronger backdrop helped extend Micron’s long-term uptrend as investors continued to favor high-growth technology stocks ahead of the company’s upcoming earnings report.
Technical Picture Remains Bullish
Micron continues to trade well above its key moving averages, a sign that the longer-term trend remains intact. Shares sit roughly 5.2% above the 20-day simple moving average, 40.9% above the 50-day moving average, and 146.4% above the 200-day moving average.
