Neutral
Micron (MU) stock dips 3% amid tech selloff; memory pricing remains strong.
In the past 24 hours, Micron Technology's stock experienced a 3% decline during premarket trading, influenced by a broader selloff in the technology sector. Despite this dip, the company continues to benefit from robust memory pricing, with DRAM contract prices increasing by approximately 3% and NAND flash memory prices rising by 2.4% in June. CEO Sanjay Mehrotra has indicated that supply constraints are expected to persist beyond 2027, suggesting sustained demand for Micron's products.
Key points
- Micron's stock fell 3% in premarket trading amid a broader tech sector selloff.
- DRAM contract prices rose by 3% and NAND flash memory prices by 2.4% in June.
- CEO Sanjay Mehrotra anticipates supply constraints to continue beyond 2027.
Sources
AI-generated from public news sources. Not financial advice.
