New York, Feb 1, 2026, 17:47 (EST) — Market closed
- Micron shares closed the week sharply lower following a volatile trading session.
- Chip stocks pulled back across the board, while storage firms showed a divided response to AI-driven demand.
- Focus now turns to Monday’s open and crucial U.S. data scheduled for later this week.
Micron Technology, Inc. shares slipped 4.8% on Friday, finishing at $414.88 after fluctuating between $407.13 and $455.50. In after-hours trading, the stock gained 1.7% to $422.01, with around 51 million shares traded—well above the three-month average volume. (Investing)
This shift is significant since Micron stands as a key proxy for the memory-chip sector linked to AI spending. When sentiment shifts, it often hits stocks like this quickly.
Friday saw a broad selloff in semiconductors dragging markets lower. The Philadelphia Semiconductor Index fell 3.87%, with the Nasdaq Composite down 0.94% and the S&P 500 easing 0.43%, per Investing data.
Storage stocks moved higher. Sandisk surged 14.7% after projecting third-quarter profit and revenue well beyond estimates and extending a flash supply deal. Morgan Stanley analysts noted that “earnings are above the long-term trend,” boosted by ongoing AI demand. Western Digital and Seagate Technology also saw gains recently, alongside Micron. Morningstar analysts highlighted supply constraints expected to persist through 2028. (Reuters)
Micron’s most recent investor update was in December, reporting fiscal first-quarter revenue of $13.64 billion. The company projected fiscal second-quarter revenue around $18.70 billion, with a margin of error of $400 million. CEO Sanjay Mehrotra highlighted “record revenue and significant margin expansion.” (Micron Technology)
High-bandwidth memory, or HBM, is a major factor here—a stacked type of dynamic random access memory (DRAM) placed alongside AI processors to speed up data transfer. Investors are also keeping an eye on the broader DRAM and NAND flash markets, where prices remain highly volatile.
The memory narrative can turn on a dime. Should supply outpace demand or AI data-center orders weaken, pricing power shrinks and margins tighten—particularly for a stock trading close to its 52-week peak.
Monday’s reopening after Friday’s holiday will be the first hurdle this week. Traders are also eyeing Friday’s U.S. January employment report, set for release at 8:30 a.m. ET on Feb. 6 — a key market event that could move growth stocks and chip shares in tandem. (Bureau of Labor Statistics)
