Micron Technology (MU 3.89%) stock is moving higher Wednesday with some big help from bullish momentum for the broader market. The company's share price was up 4.6% as of 3:25 p.m. ET amid a gain of 1.6% for the S&P 500 and 2.5% for the Nasdaq Composite.

Stocks have continued to move higher today following statements from Trump administration officials that have helped quell investor concerns about the macroeconomic outlook. Micron is also gaining ground in conjunction with reports that the company is scaling back its production of DDR4 memory solutions and shifting more production to Taiwan.

Micron stock rises on potential for improving macro picture

Following President Donald Trump's statement yesterday that tariffs on China would come down substantially, Reuters published a report today stating that the administration was open to reducing tariffs on the country's goods to between 50% and 65%. At present, most Chinese products are subject to a 145% import tax -- so a reduction to a level within the reported target range would represent a substantial step down.

President Trump also said today that he did not intend to fire Federal Reserve Chairman Jerome Powell. Whether or not the Trump administration has the legal authority to fire Powell ahead of his term's conclusion in 2026 is still a matter of contention, but investors appear to be relieved that changing leadership at the U.S. central bank no longer appears to be a priority.

Is Micron making another pivot to higher margin products?

According to a report from Commercial Times today, Micron is ending its production of DDR4 products for servers. While the move could have an adverse impact on the company's sales performance in the near term, it would allow the business to focus more on higher margin DDR5 memory solutions and high-bandwidth-memory (HBM) chips with more exposure to artificial intelligence (AI) trends. Micron could continue to see high levels of valuation volatility amid shifts to its product mix and macroeconomic and geopolitical shifts, but the stock deserves a close look from AI-focused investors.