Micron Gains Seen Riding Earnings Upgrades, Hedge Funds Take Note

MD Sass’s Q2 2026 investor letter highlighted Micron Technology (MU) as a contributor to its portfolio after earnings upgrades, noting MU closed around $932.86 on Aug 28, 2026 with a roughly 14% one-month gain and a 52-week surge near 695%. The piece credits AI memory demand, high-bandwidth memory growth, and long-term supply agreements for a brighter earnings outlook, while the fund warned MU had signaled overearning at times and rotated positions around a late-quarter index reconstitution; hedge funds held MU across many portfolios, underscoring MU’s prominence in investors’ AI-driven memory-chip thesis.