Micron Technology stock was rising Tuesday as investors continued buying the dip in memory-chip makers, which took a beating in last week's brutal artificial-intelligence selloff.
Shares of Micron climbed 4.3% to $988.85 ahead of the opening bell, having surged 9.9% the previous session. Futures tracking the benchmark S&P 500 were 0.4% higher.
The premarket gains meant Micron was trading about 8% below where it closed last Wednesday, before so-so revenue guidance from chip maker Broadcom led investors to slam the brakes on the AI trade.
Wall Street has bought the dip, with investors piling back into momentum stocks. Micron shares have soared 233% already in 2026, driven up by booming memory-chip demand.
UBS analyst Nicolas Gaudois said in a research note published on Monday that the selloff in memory-chip makers was an "opportunity." He rates Micron at Buy, with a $1,625 price target.
"Our checks point to continuing upside in demand, not downside, which is likely to persist on agentic AI demand," Gaudois wrote.
The analyst's top pick from the sector is Samsung Electronics. He also likes SK Hynix, Kioxia, and Nanya Technology.