00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Micron Technology shares rose more than 2% in Monday's pre-market trading
00:07as semiconductor stocks benefited from improving market sentiment, according to Benzinga.
00:12The gains came as Social Capital founder Chamath Palihapitiya questioned whether
00:17the memory industry's extraordinary profit growth can continue.
00:21Micron's fiscal 2026 revenue reached $133.2 billion,
00:26up from $37.4 billion the previous year.
00:31However, Palihapitiya warned that expanding production capacity could threaten profitability.
00:36Memory manufacturers are investing heavily in new factories,
00:40with additional capacity expected between 2027 and 2029.
00:45He also highlighted growing competition from China's CXMT
00:49and questioned whether artificial intelligence demand can prevent another industry downturn.
00:54Shares gained 2.35% to $905.49 in pre-market trading, according to Benzinga ProData.
01:02For all things money, visit Benzinga.com.
