Micron Stock Forecast: Shares Nearly Breach $900 Mark Intraday, Risk Another 18% Drop to Retest Lows
TradingKey·
- Micron Technology shares experienced heavy volatility, dropping nearly 6% in a single day to close at $910.43 amid macroeconomic risk aversion and sector competition.
- Regulatory reports suggesting Apple might source Chinese memory chips and cautious market sentiment ahead of Nvidia's earnings report triggered panic selling and profit-taking in the chip sector.
- The stock is undergoing a technical correction near the $900 support level, and breaking below this point could drive shares down by approximately 18% to retest the July 29 low of $740.