Micron Technology and General Motors announced a Strategic Customer Agreement (SCA) to secure a long-term, reliable supply of memory and storage platforms critical to GM’s vehicle production and delivery at scale. The agreement aims to strengthen semiconductor and automotive supply chains while supporting the next generation of U.S. manufacturing and innovation. This partnership addresses the industry's need for consistent component supply over extended lifecycles, ensuring predictability and continuity for automakers and consumers.

Under the agreement, GM will secure supply of LPDRAM, NOR, and UFS NAND products. The collaboration extends beyond committed supply to include deep technology collaboration on future memory and storage requirements. This involves aligning on future product definition, system-level optimization, and the qualification of advanced memory technologies to support GM’s next generation of vehicle architectures and roadmaps.

The agreement is enabled by Micron’s ongoing investments to expand and localize supply for automotive customers. A key enabler is Micron’s $2 billion investment to modernize its Manassas, Virginia fab, which began production earlier this year. This facility provides the longevity and supply output valuable to long product lifecycles, improved supply predictability, and product continuity across the industry.

Enhanced customer experiences through local compute, AI-enabled in-cabin experiences, and advanced driver assistance (ADAS) autonomy are driving the importance of advanced memory and storage. As vehicles become increasingly software-defined and AI-driven, memory and storage performance, reliability, and scalability are essential to enabling next-generation capabilities.

Key Supply Components

Sanjay Mehrotra, Chairman, President and CEO of Micron Technology, emphasized the importance of the agreement for the automotive industry. "We are proud to expand our strategic relationship with General Motors to deliver both long-term supply assurance and technology innovation," said Mehrotra. "Our expanding manufacturing efforts in the United States are designed to enable GM to deliver both near-term products as well as secure U.S.-based supply to support next generation platforms and innovation."

Mary Barra, Chair and CEO of General Motors, highlighted the supply chain benefits. "Delivering next-generation vehicles at scale requires a resilient and closely aligned supply chain," said Barra. "Our expanded collaboration with Micron strengthens our access to critical memory technologies while enabling deeper integration across our vehicle platforms, supporting both performance and long-term reliability."

This SCA is one of the 16 agreements discussed on Micron’s fiscal third-quarter 2026 financial conference call. The agreement aligns with Micron’s broader approach to strengthening supply continuity across the global semiconductor ecosystem by aligning long-term demand with committed capacity and engineering collaboration.

On CNBC’s “Halftime Report Final Trades,” market analysts Jim Lebenthal, Jason Snipe, Joshua Brown, and Joseph M. Terranova shared their top stock picks, including Micron Technology, Palo Alto Networks, Apple, and Amgen. The selections were supported by recent analyst ratings and price target adjustments, reflecting optimism about these companies' performance.

Jim Lebenthal, partner and chief market strategist at Cerity Partners, named Micron Technology, Inc. (NASDAQ: MU) as his final trade. Cantor Fitzgerald analyst C.J. Muse maintained an Overweight rating on Micron on June 29 and raised the price target from $1,500 to $2,000. Micron gained 0.8% to close at $1,154.29 on Tuesday.

Jason Snipe, founder and chief investment officer of Odyssey Capital Advisors, picked Palo Alto Networks, Inc. (NASDAQ: PANW). BTIG analyst Gray Powell maintained a Buy rating on Palo Alto on June 30 and increased the price target from $333 to $380. Palo Alto shares rose 2.7% to settle at $341.02 during the session.

Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, expressed confidence in Apple Inc. (NASDAQ: AAPL), citing expectations for a strong second half. Apple recently raised prices on hardware products, attributing the move to surging demand for memory and storage driven by AI data centers. Apple shares gained 2.7% to close at $289.36 on Tuesday.

Joseph M. Terranova, senior managing director for Virtus Investment Partners, recommended Amgen Inc. (NASDAQ: AMGN). Mizuho analyst Salim Syed maintained a Neutral rating on Amgen on June 16 and raised the price target from $295 to $303. Amgen shares rose 0.4% to settle at $362.12 during the session.

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