Micron Closes at $811 After 11.89% Jump on CoreWeave Signal

Micron Technology closed at $811.30 on Wednesday, November 11, 2026, up $86.19, or 11.89% — its biggest one-day gain since July 30. The close was also the stock's first above $800 since November 3, when it finished at $855.10. The recovery rests on one earnings call from a GPU cloud operator, not on any new order for Micron itself.

The session range ran from $763.05 to $827.58. The rebound came one week after a brutal stretch: Micron closed at $795.23 on November 4, fell 17.46% to $656.39 on November 5 during the AI and chip selloff, and recovered to $725.11 by November 10. The November 11 close sits about 23.6% above that low.

What moved memory stocks on November 11?

Market coverage attributed the rally to CoreWeave's (NASDAQ:CRWV) third-quarter report, released November 10, which eased fears about AI computing demand. That is how traders read the session. No company announced a new Micron order.

On the call, CoreWeave chief executive Mike Intrator said: "We are largely sold out through 2027." He added that pricing "has continued to move higher in Q4, more than offsetting cost increases." Sold-out GPU clouds keep ordering servers. Every AI server needs high-bandwidth memory — stacked DRAM beside the processor — and fast storage. Micron sells both.

Note what the call did not say. Intrator sells computing capacity, so strong demand talk serves his company. The call named no memory supplier. SanDisk (NASDAQ:SNDK) closed up $117.70, or 13.69%, at $977.69, a $139.11 billion market value, still far below its 52-week high of $2,354.39 — evidence the memory group moved together and remains well off its peaks.

Did Micron really outvalue JPMorgan?

At the close, yes. Micron finished worth $917.92 billion, above JPMorgan Chase's (NYSE:JPM) $911.91 billion; the bank closed at $343.39, up 0.39%. A memory maker valued above the largest US bank shows how much future AI spending is already priced into the stock.

The lead held only at the close. After hours, Micron's implied value fell to about $892.6 billion, below JPMorgan's closing figure.

Why $800 remains unsettled

At 7:59 p.m. ET, Micron traded at $788.93, down 2.76%, while SanDisk sat at $951.98, down 2.63%. After-hours trading is thin. Prices can shift before the November 12 open.

The longer-term picture is similarly mixed. Micron is up 184.48% year to date yet down 17.96% over the past month. Its 52-week range spans $192.59 to $1,255.00. The record close of $1,213.56 came on June 25; the stock still trades about 33% below it.

What does Micron's guidance signal?

On September 30, Micron guided fiscal first-quarter 2027 revenue to $61.5 billion, plus or minus $1.5 billion, with non-GAAP gross margin of about 86.25% and non-GAAP EPS of $38.15, plus or minus $1.00. Fiscal 2026 revenue was $133.19 billion, so one quarter's guidance now approaches half a full year's sales.

Memory is cyclical. Margins this high tend to draw new supply, and new supply eventually pushes prices down. Sold-out AI capacity and that guidance likely outweigh cycle risk for now — though the stock has already shown it can fall 17.46% in a single session. Micron also has broader exposure than SanDisk, supplying both high-bandwidth DRAM and storage, which is part of why memory names keep appearing among AI infrastructure picks.

Micron's next report is estimated for December 16, 2026, a date the company has not confirmed. If revenue lands below the low end of the guided range, or the margin outlook drops, the bullish case for this rebound weakens quickly.