The Micron Technology offices in San Jose, California, Dec. 16, 2025.

David Paul Morris | Bloomberg | Getty Images

Micron Technology shares caught fire this week amid a global shortage of memory chips, with momentum driving the stock on surging enthusiasm across the semiconductor sector.

Shares were up almost 14% to $734 in trading on Friday as of 2:20 p.m. ET. The stock has gained about 35% on the week and more than 80% in the past month.

Micron is on track for its best week since December 2008, when it was trading below $5 a share in the wake of the Great Recession. The company's market cap is currently above $820 billion, according to LSEG.

Stock Chart Icon Stock chart icon

Micron Technology in the past five days

Micron isn't alone among the chipmakers .…