New York, Feb 2, 2026, 09:33 (ET) — The regular session is now in progress.
- Micron slid about 4.8% in early Monday trading, underperforming broader chip ETFs.
- TrendForce upped its Q1 DRAM contract price forecast sharply, now expecting a 90%–95% hike compared to last quarter’s projection.
- Focus turns to memory pricing trends ahead of Micron’s investor conference on Feb. 11.
Micron Technology (MU.O) plunged 4.8% to $414.88 in early Monday trading, dragged down by a broad selloff in semiconductor stocks. The iShares Semiconductor ETF also fell, dropping about 4.1% to start the week.
This shift matters because Micron deals exclusively in memory pricing, and fresh industry forecasts point to another sharp jump in quarterly contract rates. These contract prices act as benchmarks in negotiations with key buyers and typically drive revenue and margin forecasts.
Chip stocks, acting as a high-beta barometer for risk appetite, have been especially volatile amid recent market jitters. Early sell-offs often overshadow any upbeat news from the sector.
TrendForce on Monday sharply upped its forecast for conventional DRAM contract prices, now predicting a 90% to 95% jump in the January-March quarter versus the previous period—well above its earlier 55% to 60% estimate. The firm also raised its NAND flash contract price outlook to a 55% to 60% gain, citing “persistent AI and data center demands” that keep supply tight. (TrendForce)
Contract prices move slower than the spot market because they’re locked in for set periods, often a quarter, between suppliers and big buyers. Sharp swings in contract prices prompt investors to reconsider who really controls pricing—and for how long.
Macro jitters intensified selling pressure. A Reuters report linked a steep fall in precious metals to CME Group raising margin requirements, triggering a wave that spilled into stocks. Jim Baird, CIO at Plante Moran Financial Advisors, described it as a “ripple effect” and pointed out that investors are shifting their leadership bets. (Reuters)
Micron is up against Samsung Electronics and SK hynix in the DRAM and high-bandwidth memory markets—the stacked chips driving AI processors in data centers. As a result, any rise in negotiated memory prices can quickly shift near-term earnings forecasts.
Timing still drives the swings. Big price jumps usually lead to more supply later on, and just a hint that demand from cloud and enterprise clients is leveling off can quickly weigh on memory stocks, even though forecasts suggest tight conditions will persist.
Micron said it will update investors again on Feb. 11, during a presentation at the Wolfe Research Auto, Auto Tech and Semiconductor Conference in New York. After Monday’s early dip, traders will zero in on any comments about supply, pricing, and capital expenditures. (investors.micron.com)
