Micron Technology, Inc (NASDAQ:MU) gained in tandem with its semiconductor peers during Wednesday’s premarket session as the tape leans risk-on with Nasdaq tracking higher and traders digesting fresh U.S.-China AI-chip headlines that can swing sentiment across the semiconductor supply chain, including memory.
The setup is also being viewed through the lens of U.S.-China AI-chip tensions, which continue to shape visibility into data center buildout demand.
President Donald Trump personally called NVIDIA Corp (NASDAQ:NVDA) CEO Jensen Huang and invited him to join the China trip after reports highlighted his absence, and a source familiar with the matter said Huang flew to Alaska to board Air Force One.
NVIDIA later confirmed that Huang joined the administration at Trump’s invitation to support its goals.
At the same time, Trump said he planned to ask President Xi Jinping to further open China to U.S. businesses during meetings in Beijing.
In the same backdrop, NVIDIA said in February that U.S.-approved versions of its chips still had not received clearance for sales in China, and former U.S. Commerce Secretary Carlos Gutierrez said the U.S. remained far from any agreement on AI chip export controls.
China is a key market for Micron.
Washington had imposed semiconductor technology restrictions on China to limit its access to artificial intelligence technology from companies such as NVIDIA, Micron, and ASML Holding NV (NASDAQ:ASML), citing national security concerns.
Micron’s China Business
Last October, Micron shares fell in premarket trading after reports said the company plans to exit China’s data center market following Beijing’s 2023 ban on its products in critical infrastructure systems.
Micron reportedly decided to stop selling server chips to Chinese data centers after the business failed to recover from the restrictions.
However, the company will continue supplying chips to Chinese customers with overseas data center operations, including Lenovo, while maintaining business with China’s automotive and smartphone sectors.
The report said Micron generated about $3.4 billion, or roughly 12% of total revenue, from mainland China last year.
Technical Analysis
Micron is still in a steep uptrend on longer-term measures, trading 44.9% above its 20-day SMA, 74.6% above its 50-day SMA, 95.4% above its 100-day SMA, and 172.3% above its 200-day SMA. The 20-day SMA remains above the 50-day SMA, and the golden cross that formed in June 2025 (50-day SMA above the 200-day SMA) continues to validate the bigger-picture trend.
Momentum is the main near-term risk: RSI is 79.26, signaling the move is stretched and more vulnerable to sharp pullbacks or sideways digestion, even if the primary trend stays up. RSI first pushed into overbought territory in May, so the market has already been rewarding upside follow-through—but it also means buyers may demand cleaner pullbacks before adding.
