On July 16, Micron Technology fell 3.28% in regular trading, trading at $863.27/share, with turnover of $7.305 billion. The stock continued its slide after plunging approximately 8% the prior session, having now retreated over 30% from its 52-week high of $1,255.
The decline reflects a continued broad selloff across the memory chip sector. SK Hynix fell over 6%, while SanDisk and Western Digital dropped more than 4%. Warren Buffett publicly warned that current AI-related stock speculation resembles gambling, directly undermining confidence in the storage sector which had experienced outsized gains. Concurrently, Goldman Sachs prime brokerage reported that hedge fund net exposure to its broad AI portfolio has fallen to the lowest level this year, signaling institutional de-risking.
Additional pressure stems from the recent launch of SK Hynix US-listed options and multiple single-stock leveraged ETFs, which have diverted speculative capital and intensified fund reallocation within the sector. Supply expansion concerns and customer pushback on DRAM pricing are further eroding confidence in the sustainability of elevated pricing.
(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.)
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