What's Going On With Nvidia And Micron Stock Today?

NVIDIA Corporation NVDA shares are trading higher by 4.2% at $625.22 Monday afternoon amid strength in semiconductor names, as chip shortage concerns lift price outlook. The company reports first-quarter results on Wednesday.

Micron Technology, Inc. MU shares are trading higher by 3.1% at $83.24 after traders are circulating a report titled "Memory contract prices to see double-digit gains in 3Q21." U.S. lawmakers are also visiting Micron's Virginia-based manufacturing plany Monday afternoon amid the ongoing chip shortage.

Nvidia is the leading designer of graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers, and automotive infotainment systems.

Micron historically focused on designing and manufacturing DRAM for PCs and servers. The firm then expanded into the NAND flash memory market. It increased its DRAM scale with the purchase of Elpida (completed in mid-2013) and Inotera (completed in December 2016). The firm's DRAM and NAND products tailored to PCs, data centers, smartphones, game consoles, automotive and other computing devices.