Bill Clinton was president the last time Micron (MU) sported this kind of relative strength index (RSI) on the charts.
AlphaSpace intel: According to Yahoo Finance AlphaSpace, the RSI on memory chip play Micron currently stands at 90. It hasn’t been this high since hitting 96 on Sept. 1, 1995.
The RSI is a popular momentum indicator used in technical analysis to measure the speed and change of a stock’s price movements. When the RSI rises above 70, it typically indicates that the asset has experienced a rapid upward price movement and may be overvalued or due for a trend reversal or corrective pullback.
After hitting 96 in 1995, Micron’s stock tanked significantly in the following months. The sell-off in the stock persisted until July 1996 or so, according to AlphaSpace data.
Memory stock vibe check: The AI capital expenditures boom sweeping the US has funneled down to Sandisk (SNDK), Micron, and many others in the memory chip space. As hyperscalers such as Amazon (AMZN) build AI data centers, demand for memory chips has surged. These chips store and move data for AI models, which require large volumes of information to perform at high levels.
Memory has become one of the tightest parts of the AI supply chain, allowing the companies to hike prices to boost their profits.
“Booming general server demand leading stronger and longer memory cycle,” said HSBC analyst Ricky Seo in a recent note.
The market used this backdrop to send the company beyond the $1 trillion market cap milestone for the first time on May 26.
Micron is now sitting on a jaw-dropping 240% year-to-date gain for 2026. Its market cap is currently $1.1 trillion.
Bottom line: If Micron’s stock is going to be hit with a well-deserved correction, it’s going to be soon. Nothing goes up in a straight line, and that includes one of the hottest stocks in recent memory.
Brian Sozzi is Yahoo Finance’s Executive Editor and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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