Micron Technology Shares Drop Sharply Amid Broad Tech Selloff

Micron Technology Shares Drop Sharply Amid Broad Tech Selloff

Micron Technology's stock price has dropped sharply, though it remains well above its level a year earlier.

The shares fell nearly 16% in a recent session, contributing to a broader market slip of about 3.4%.

On the same day, the Nasdaq composite fell 3.72% as technology stocks retreated.

Other memory‑chip makers also saw steep declines, with SK Hynix down 13% and SanDisk plunging 20%.

Micron's decline was linked to intensified selloffs in the memory sector and ripple effects from memory‑chip shortages.

Earlier in the week, Micron stock fell 11% as the Nasdaq plunged nearly 4%.

The company's forward price‑to‑earnings ratio contracted to roughly 4.8 times, reflecting the market pressure.

Analyst consensus ratings for Micron are calculated from weighted averages of multiple rating categories.