Micron (MU) Stock Falls 5% in Premarket as China Chip Fears Spread
TLDR
- Micron stock fell 5.29% in premarket Tuesday to $852.61, extending a 2.25% decline from Monday
- South Korea’s KOSPI Index plunged 11% overnight, adding pressure to global chip stocks
- Reports of a Chinese company producing deep ultraviolet lithography machines spooked investors
- Sandisk fell 11% and AMD dropped 5% Monday, with broader weakness spreading Tuesday
- Analysts remain bullish with a consensus Buy rating and average price target of $1,548.86
Micron stock was trading down 5.29% at $852.61 in premarket trading Tuesday, adding to Monday’s 2.25% loss as a wave of selling hit AI memory names hard.
The broader tech mood is sour. Nasdaq futures were down 1.1% early Tuesday, and South Korea’s KOSPI Index plunged 11% overnight — a catch-up move from Monday’s U.S. selloff that set a grim tone heading into the open.
Micron actually held up relatively well on Monday compared to peers. Sandisk tumbled 11% and AMD fell over 5% in the prior session. But Tuesday’s premarket action showed the weakness spreading more broadly, with Micron, Sandisk, and Western Digital all down around 7%.
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