Movement Alert｜Micron Technology Falls 5.91% in Regular Trading, SK Hynix Mega-IPO Diverts Capital as Profit-Taking Intensifies

Market Focus07-13 21:41

On July 13, Micron Technology fell 5.91% in regular trading, trading at 905.55 USD/share, with turnover of $5.04 billion. The decline was driven by multiple converging pressures including capital diversion from competitor SK Hynix's NASDAQ debut and sustained profit-taking.

SK Hynix listed its ADR on NASDAQ on July 10 with a $26.5 billion offering, setting a record for the largest foreign company IPO in the US. The massive issuance has created a pronounced capital diversion effect across existing storage stocks. Concurrently, Micron had rallied over 4% after announcing plans to boost US investment to over $250 billion by 2035, generating significant unrealized gains now being unwound.

The stock has declined over 26% from its 52-week high of $1,255, firmly in technical bear market territory. The broader semiconductor sector also weighed heavily, with Intel down 5.34%, AMD down 5.05%, and storage peers including SanDisk and Western Digital falling over 6%. Despite the selloff, Wall Street consensus remains strongly bullish, with TD Cowen maintaining a $1,600 target price and 29 of 30 analysts rating the stock a buy.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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