Amid a powerful rally in memory stocks, Micron Technology (MU) has briefly surpassed Nvidia (NVDA) to become the most actively traded stock. MU shares have gained more than 150% year-to-date, marking one of the strongest semiconductor rallies of 2026. The stock is also moving closer to a $1 trillion market cap.
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For context, Micron makes NAND chips for long-term storage like SSDs and smartphones, and DRAM chips that act as fast working memory in computers and data centers.
Micron Becomes Most-Traded Stock
MU has been rising as investors grow more excited about the global shift driven by faster AI adoption. AI data centers are now using large amounts of DRAM, HBM, and NAND memory chips, changing demand across the chip industry. As a result, Micron is now seen as a key name in the AI infrastructure boom.
The shift has also changed trading liquidity on Wall Street, with Micron overtaking NVDA as the most actively traded stock. Meanwhile, Micron’s rival SanDisk (SNDK)—despite its smaller size—has also seen strong trading activity.
On a technical level, Micron first surpassed Nvidia in single-day trading volume on March 19. Recently, over the past nine sessions, Micron has led Nvidia in trading volume on six days. Its five-day average turnover now shows a clear gap, with about $47 billion traded in Micron versus $34 billion in Nvidia, according to Bloomberg data.
What It Means for MU Investors
The rise in trading activity shows that MU is getting more market focus and higher liquidity, pointing to a bigger shift in how investors see the company. This is not just short-term excitement — it reflects a deeper shift in where capital is flowing across the market.
For investors, the key takeaway is that Micron is evolving from a traditional chip supplier to a more central player in the AI-driven technology trade. The industry is now focusing on memory as much as processors.
What Is the Price Target of MU Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Micron stock based on 27 Buys and three Holds assigned in the past three months. The average MU stock price target of $608.33 per share implies a downside of 16.05%.
