Micron Stock Dips Amid Tech Selloff, But Memory Chip Prices Continue to Climb
MU has more than doubled off its 52-week low of $103.38.
Summary
Micron Technology shares are down 3.2% in premarket trading, reflecting a wider tech sector selloff. Despite this, memory chip prices for DRAM and NAND continue their upward trend, rising 3% and 2.4% in June, respectively. KeyBanc analyst John Vinh highlights that AI-driven demand is still outpacing supply, with significant new capacity not expected until 2027, ensuring strong pricing through 2026. This context is crucial following Micron's recent record Q3 results and news of its HBM supply being sold out for 2026, suggesting the stock's dip is a market-wide movement rather than a fundamental shift in the company's strong business outlook.
At the time of this announcement, MU was trading at $1,113.78 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.3T. The 52-week trading range was $103.38 to $1,255.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.