Micron Falls in Broad Memory Sector Retreat Micron Technology (NASDAQ:MU) shares dropped 5.1% in premarket trading on Monday to $929.50 as a sharp selloff across the global semiconductor sector weighed heavily on memory-chip manufacturers.
The weakness followed a record decline in South Korean rival SK Hynix, whose shares tumbled more than 15% after investors locked in profits following last week’s Nasdaq debut
SK Hynix Decline Sends Shockwaves Through Chip Sector Heavy selling in SK Hynix, together with losses in Samsung Electronics, pushed South Korea’s KOSPI index down 9%, triggering a temporary 20-minute trading halt. The negative sentiment quickly spread across the memory industry, dragging lower shares of SanDisk, Western Digital and Seagate alongside Micron. The broad-based move reflected growing investor caution after a strong rally in AI-related semiconductor stocks over the past year.
Short Position and Insider Sales Add to Pressure Investor sentiment toward Micron has also been affected by company-specific developments. High-profile investor Michael Burry established a put-option position against the stock near $1,051.87 on July 1, 2026, shortly after Micron approached record highs following a rally of nearly 700% over the previous year. The bearish position has attracted considerable market attention and added to negative short-term sentiment.