Micron rises 5.86% to $983.23 in Oct. 28 session
Key Facts
Micron Technology shares closed up 5.86% at $983.23 in the Oct. 28, 2026 session, according to Investing.com data, posting a gain for the session rather than the decline reported in the initial version. The stock’s rise came before Samsung Electronics reported quarterly results on Oct. 29, so the trading and results dates do not support attributing Micron’s move to that announcement. The stock traded between $959.34 and $990.00 during the session. The following day, Samsung shares fell 4.1% in Asian trading despite the company reporting strong results, according to The Associated Press. The AP attributed Samsung’s decline to some investors’ disappointment with its shareholder-return policy arrangements, a reaction separate from Micron’s performance the previous day.
Samsung reported third-quarter results on Oct. 29 for the quarter ended Sept. 30, with consolidated revenue of 195.3 trillion won and operating profit of 107.4 trillion won. Revenue rose 14% from the previous quarter, according to the company’s statement, setting a new quarterly record. Samsung said its memory business posted its highest quarterly revenue and operating profit in its history. The company linked the business’s performance to product-mix management and a focus on AI products amid capacity constraints. It also said strong server demand lifted market prices across applications, pointing to the role of data-center-related demand in the sector’s results.
Micron’s rise on Oct. 28 reflects a move that preceded Samsung’s announcement, while Reuters, citing Investing.com, reported that the stock jumped 4.8% that day to its highest level in more than two weeks. The report linked the gain to SK Hynix’s announcement that its quarterly profit had increased more than sevenfold. On Oct. 29, SK Hynix shares rose 2.6% after gaining 10.9% the previous day, according to the AP. By contrast, Samsung shares fell 4.1% despite strong results, as some investors focused on shareholder-return arrangements. Samsung and SK Hynix together control about two-thirds of the global memory market, according to the AP, making the companies’ results and outlooks prominent indicators of sector demand.
Samsung said capacity constraints and strong server demand supported memory prices, while its business posted record quarterly results. The company forecast continued investment in AI infrastructure in the fourth quarter of 2026, alongside growing demand for products tied to new CPU and GPU platforms and QLC SSDs. It also forecast that demand for AI chips would accelerate through 2027 and exceed supply, according to the AP, as it focuses on advanced memory chips and storage products for AI servers. These forecasts put continued AI investment and an expected supply shortage at the center of the landscape in which memory companies operate. But they remain Samsung’s forecasts for the market and demand, and do not by themselves explain stock moves in any particular session.
The AP reported that Samsung and SK Hynix announced plans in June to invest a total of 800 trillion won in a new chipmaking complex in southwestern South Korea. Samsung’s capital expenditure reached 29 trillion won in the third quarter, bringing the cumulative total from January through September to 56.9 trillion won. The company estimated its capital expenditure for 2026 at about 84.4 trillion won, according to its results statement. Meanwhile, a Reuters report said investors were awaiting results from major cloud-computing companies and their spending plans. The report pointed to questions about the viability of debt-funded AI spending as borrowing costs rise, putting spending plans and expected returns under investor scrutiny.