New York, Feb 1, 2026, 10:42 EST — The market has shut down for the day.
Micron Technology’s shares dropped 4.8%, ending Friday at $414.88, underperforming the broader tech sector. The memory-chip powerhouse heads into the week on shaky ground. (Investing)
This shift matters because Micron is often viewed as a high-beta proxy for the AI boom, providing DRAM and NAND memory used in data centers and intensive computing gear. Its shares have essentially mirrored that demand story. (Reuters)
Markets grew unsettled late in the week after Donald Trump nominated Kevin Warsh to lead the Federal Reserve. Investors wrestled with wild swings in mega-cap earnings alongside persistent inflation worries. “Markets are calibrating to Trump’s pick … and the outlook for monetary policy,” noted Michael Hans of Citizens Wealth. Angelo Kourkafas at Edward Jones cited “a combination of investor concerns” dragging down risk assets. (Reuters)
The storage and memory sector presented a mixed picture. SanDisk surged after delivering a robust quarterly forecast, boosted by AI-driven demand for data storage. It also flagged a persistent memory chip shortage, casting a spotlight on competitors such as Seagate Technology and Western Digital. (Reuters)
Macro and megacap events are front and center this week. Alphabet and Amazon are set to release earnings, while the February 6 U.S. jobs report might rattle rate forecasts—and by extension, the “AI trade” fueling chip stocks. “For those companies where expectations have become very, very lofty, the onus is going to be on them to deliver,” said Jim Baird of Plante Moran Financial Advisors. Meanwhile, Sid Vaidya at TD Wealth noted that capital spending on AI infrastructure “will not see any letup.” (Reuters)
Traders eyeing Micron will want to determine if the recent pullback is just profit-taking or something bigger—a move to reduce risk. Key signals lie in memory prices and data on cloud and server expenditures. Demand for high-bandwidth memory (HBM), a fast type of DRAM paired with AI chips, has tightened supply in certain areas of the market.
But the same drivers behind the rally can turn on a dime. History shows supply often catches up, prices tumble, and the hype around “AI capex” can switch from tailwind to drag in no time. When interest rates jump or big tech tightens the purse strings, the crowded momentum trades tend to get hit first.
Micron will present at a Wolfe Research event on February 11, delivering its next major company update. Investors will be watching closely for fresh details on demand trends, supply discipline, and how quickly HBM shipments are moving. (Micron)
