Micron Technology (MU) shares rose 6.1% Friday to close at $1,016.59, moving back above $1,000 for the first time since August 17. The rally came ahead of the company’s fiscal fourth-quarter results, due September 30, with FactSet consensus calling for revenue of $50.41 billion versus $11.32 billion a year earlier and adjusted earnings per share of $30.89, up from $2.84. Memory-chip competitors SK Hynix and Samsung Electronics gained 8.3% and 5.7%, respectively, in Monday’s South Korean session. Micron’s leadership has said supply constraints may persist beyond 2027, giving the company pricing leverage as AI infrastructure developers and hyperscalers absorb available capacity. However, investors remain concerned that new production capacity expected from late 2027 and in 2028 could alter supply-demand conditions. Shares have gained nearly 700% over the trailing 12 months and trade at approximately six times forward earnings. Barron’s has previously suggested the stock could potentially double from the $1,100 range, while the current price remains below that level. The shares’ 52-week range is $128.40 to $1,255.00.