Micron Technology Stock News

After a golden first half of the year, investors have been getting a crash course in what gravity feels like from the stock market these past few weeks. A combination of poor job numbers and an increase in interest rates from Japan combined to give equities some of their worst sessions and weeks in years.

Down 30% from its June highs, Micron should be on your buy list.

Micron Technology (NASDAQ: MU) stock has seen considerable volatility this year, rising by about 85% through mid-June, although it has fallen by close to 40% since then, taking its year-to-date returns to about 8%. There are a couple of factors impacting Micron stock.

American stocks finished strong as the Dow Jones, Nasdaq 100, and S&P 500 indices pared back the losses made on Monday. The three indices rose to almost $40,000, $5,345, and $16,745, respectively.

Micron stock has recently collapsed into a bear market and underperformed its semiconductor peers. Investors likely overhyped MU's AI thesis while understating the cyclical and commoditized risks of the memory industry. Micron's AI growth story is still in the early stages, suggesting potential for market share gains.

Citi analyst Christopher Danely sees opportunity in semiconductor stocks after they've lost ground in recent weeks — and he especially sees room for Micron Technology Inc. shares to bounce back.

Micron announced the resumption of its stock repurchase program. The company paused buybacks during the downturn to preserve precious capital.

Micron Technologies is poised to benefit from increasing computing power moving from the cloud to your device.