Micron Dips as SK Hynix Looks to List in the U.S.

Micron stock MU slid about 2.5% after reports that memory rival SK Hynix is considering a $10 billion U.S. listing to help fund its planned $8 billion EUV equipment purchase from ASML by 2027. A U.S. listing could broaden SK Hynix access for investors and pressure MU, though MU remains supported by some analysts, including Phillip Securities’ Yik Ban Chong who raised the target to $530 on strong earnings and AI memory demand. MU is up roughly 38% year-to-date with light trading volume, while the stock’s overall Street consensus remains Strong Buy with an average target around $357.57, signaling about 35-36% upside.