Market Movers: Micron Soars on CFO Comments

Quick Read

Micron’s HBM4 production ramped a quarter early. Morgan Stanley raised its price target to $450, expecting continued DRAM price increases.
Apple is considering delaying its Siri AI launch from March to September after testing uncovered software issues.
Robinhood dropped 9% and broke below its prior low. Wolfe Research notes Bitcoin bear cycles since 2012 averaged 75% drawdowns.

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By Ian Cooper Published Feb 12, 1:24PM EST

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Market Movers: Micron Soars on CFO Comments — © Micron Technology Inc.

Even as the market dives, Micron Technologies (NASDAQ: MU) is rocketing higher.

All after CFO Mark Murphy addressed “inaccurate reporting” about the company’s next-generation high-bandwidth-memory positioning, saying that the company’s HBM4 offering is in high-volume production, as noted by MarketWatch.com. “Shipments to customers have ‘successfully’ ramped in the first quarter, he noted, with that development occurring a quarter ahead of when the company was initially expecting.”

Last trading at $420, Micron could soon retest $450 again shortly.

Just yesterday, analysts at Morgan Stanley raised their price target on Micron to $450 from $350 with an overweight rating. “As much as happened in the last 12 months in DRAM, we remain excited for what’s ahead,” analyst Joseph Moore wrote in a note to clients. “With another round of significant price increases coming in Q1 and still indications that supply growth in 2026 will do little to alleviate the intense shortage, we expect further pricing increases through this year,” as quoted by Seeking Alpha.

Robinhood Markets

Shares of Robinhood (NASDAQ: HOOD | HOOD Price Prediction) are down about 9%, or by $7.35 on the day.

Not helping, it just broke below its prior low and could drop to $63.50 next.

Worse, when it comes to Bitcoin, “It has since bounced a bit, but investors shouldn’t heave a sigh of relief just yet — there is likely more downside ahead, according to Wolfe Research,” as noted by CNBC. “Since 2012, the average peak-to-trough drawdown during each four-year bitcoin bear market cycle has been 75%, they noted, adding that bitcoin hasn’t come close to falling that far this cycle.”

Apple

Apple isn’t having a great day either.

Down $12.85, it’s sinking on reports that it may have to push back its Siri AI launch. At first, there were plans for a March launch. Now, the company is considering September when iOS 27 is launched alongside iPhone 18. Reportedly, the delay comes after testing uncovered issues with the AI software used with Siri.

“We think Apple will launch a set of new/upgraded Apple Intelligence features at WWDC in June 2026 but the Personalized Siri (especially the interaction with individual data) is likely something that’s launched with the iPhone 18 Pro in September,” Evercore ISI analyst Amit Daryanani said, as quoted by Investor’s Business Daily.