Micron Stock Closes Above $1,000. Why It’s Not What It Seems.

Investors on Friday pushed shares of Micron Technology to close above $1,000 for the first time since mid-August, following the release of OpenAI’s latest artificial-intelligence model and as the AI-trade picked up momentum. Micron stock advanced 6.1% to $1,016.59 on Friday, marking the first time shares have closed above $1,000 since Aug. 17, according to Dow Jones Market Data. Among other memory companies, American depositary receipts of SK Hynix were up 8.1%.