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Micron Sinks 7% While Market Rallies

Micron's shares fell 7% on Wednesday to their lowest close since the end of July, even as US stocks rallied. No company-specific cause was reported for the drop in the memory chipmaker.

Micron Technology (NASDAQ: MU) shares fell 7.00% on Wednesday, closing at their lowest level since the 29th of July while the wider market rose. Micron makes memory and storage chips, including the high-bandwidth memory used beside AI processors.

The stock closed at $795.23, down from $855.10 yesterday. That is below every close in August, the lowest of which was $829.50 on the 3rd of August. It opened about 3.8% lower and traded between $791.03 and $853.34 on volume of 35,045,522 shares.

MU.US

The fall came against a rising market. The S&P 500 gained 1.58% to 7,688.62 and the Nasdaq Composite added 1.44% to 25,736.51.

Chip stocks including Nvidia and Micron were reported down more than 1% before the US open, as markets weighed possible limits on data-centre construction after Democrats won both chambers of Congress. That is sector context, and the move was much smaller than Micron’s 7% drop in the session.

The decline extends a slide from the closing peak of $1,097.39 on the 1st of October, leaving the shares 27.5% lower. They are also 19.1% below the $983.23 close of the 28th of October. Micron now trades under its 50-day average of $976.05, the average closing price over 50 sessions, but above its 200-day average of $749.31.

Line chart of Micron's daily closing price, falling from about $1,097 on 1 October to $795 on 4 November
Micron daily close, 15 July to 4 November 2026.
InstrumentCloseChange
Micron795.23-7.00%
S&P 5007,688.62+1.58%
Nasdaq Composite25,736.51+1.44%

Micron fell while both indices gained more than 1.4%.

Analysts remain positive: 36 rate the stock a strong buy, 9 a buy, 3 a hold and 1 a sell, with an average price target of $1,561.91.

Micron reported fiscal fourth-quarter earnings of $33.19 a share on the 30th of September, against an estimate of $31.41 and $3.03 a year earlier. Its next report is listed for the 16th of December.

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