Micron Technology Shares Drop 7% to Three-Month Low Amid Memory‑Chip Shortage Concerns

Micron Technology stock falls sharply amid chip‑shortage worries

Micron Technology (MU) stock dropped 7% on Wednesday, closing at its lowest level since early August.

The decline followed an early‑session trade at $837.16, down 2.1% before falling further.

After market close, the shares slipped an additional 2.2% in overnight trading.

A separate report noted a 9.39% slide to $682.79 from a $753.53 opening, erasing roughly $70 billion from the company’s market value.

The downturn occurred as memory‑chip shortages created ripple effects across the tech sector.

Investors cited progress by China’s ChangXin Memory Technologies (CXMT) on a 4F² DRAM architecture and plans for limited HBM3E production within two months as a factor that could pressure Micron’s pricing power.

DRAM accounts for roughly 73% of Micron’s revenue, intensifying the impact of the CXMT news.

The broader market rose, with the S&P 500 up 1.58% to 7,688.62, the Dow up 3.03%, and the Nasdaq Composite up 1.44% on the same day.