Micron (MU) Tops $1,000; RSI Surges Past 90 to 31-Year Overbought Extreme

Micron Technology (MU) shares surged past $1,000 for the first time on June 1, 2026, hitting an intraday record of $1,036.91, but a technical gauge flashed its most severe warning in three decades. The stock’s relative strength index (RSI) climbed to 90, the highest since September 1995, signaling extreme overbought conditions. The RSI reading—a momentum indicator where values above 70 suggest overheating—was last this elevated when Bill Clinton was president. Historical data show that after peaking at 96 in 1995, Micron shares fell for months into July 1996. The stock has skyrocketed 240% year-to-date, pushing its market capitalization to $1.1 trillion, driven by a memory-chip supply crunch tied to AI data-center demand. HSBC analyst Ricky Seo noted that strong server demand is fueling a durable memory upcycle. Still, with the RSI at a 31-year high, analysts cautioned that a technical correction appears imminent.