Micron Technology Inc. (NASDAQ:MU) shares fell nearly 4% in Thursday’s premarket session as semiconductor stocks came under pressure amid weaker Nasdaq futures. Nasdaq futures were down 0.45%, while S&P 500 futures edged up 0.15%.
The weakness came after earnings from Western Digital Corp. (NASDAQ:WDC) and Sandisk Corp. (NASDAQ:SNDK) weighed on sentiment across the memory-chip sector.
Western Digital’s guidance disappointed investors despite a quarterly beat, while Sandisk’s mixed outlook overshadowed better-than-expected results and raised concerns about the sustainability of its margins.
The reaction sparked a broader selloff in AI memory and storage stocks, with Seagate Technology Holdings plc (NASDAQ:STX), Sandisk and Micron all trading lower in premarket trading.
Technical Analysis
Micron traded at $861.43 in premarket action. The stock remained 5.1% below its 20-day simple moving average of $898.86 and 12.3% below its 50-day SMA of $972.25. However, it stayed 14.4% above its 100-day SMA of $745.63 and 61.5% above its 200-day SMA of $528.27.
That setup suggests the longer-term uptrend remains intact, even as the stock works through a medium-term pullback.
Momentum has also cooled. The relative strength index, or RSI, stood at 49.16, indicating neutral momentum. In simple terms, the stock is neither overbought nor oversold, suggesting consolidation rather than an extreme move.
The moving-average structure also points to near-term pressure. The 20-day SMA remains below the 50-day SMA, a bearish crossover that can limit short-term rallies. Even so, the 50-day SMA remains above the 200-day SMA, indicating the broader trend is still constructive.
Key resistance sits near $1,012, close to the 50-day trend area where rallies could face selling pressure. Initial support is around $804, a recent demand zone that buyers previously defended.
Earnings And Analyst Outlook
The company’s next earnings report is expected on Sept. 22, 2026.
Wall Street expects earnings of $31.24 per share, up from $3.03 a year earlier, on revenue of $50.72 billion, compared with $11.31 billion in the prior-year quarter.
Micron trades at about 20.2 times earnings. Analysts maintain a consensus Buy rating with an average price forecast of $1,548.86. Recent analyst actions include:
- KeyBanc maintained an Overweight rating and raised its price forecast to $1,750 on July 14.
- Cantor Fitzgerald maintained an Overweight rating and raised its price forecast to $2,000 on June 29.
- Cantor Fitzgerald also maintained an Overweight rating with a $1,500 price forecast on June 25.
Benzinga Edge Rankings
Benzinga Edge rates Micron highly on momentum, growth and quality.
The stock carries a Momentum score of 99.65, a Quality score of 97.70 and a Growth score of 88.79. Its Value score of 36.76 suggests the shares trade closer to fair value than at a deep discount.
Overall, the ratings indicate investors continue to favor Micron’s long-term growth profile despite the recent pullback.
Top ETF Exposure
Micron is a major holding in several semiconductor and technology exchange-traded funds, including:
- Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ): 8.91% weighting
- Invesco AI and Next Gen Software ETF (NYSE:IGPT): 8.71% weighting
- Fidelity Disruptive Technology ETF (NASDAQ:FDTX): 9.33% weighting
Because of its large weighting, significant inflows or outflows in these ETFs can influence demand for Micron shares.
Price Action
MU Stock Price Activity: Micron Technology shares were down 3.56% at $861.43 during premarket trading on Thursday, according to Benzinga Pro data.
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