New York, Feb 1, 2026, 17:47 (EST) — Market closed
- Micron shares ended the week sharply down after a turbulent session.
- Chip stocks slipped broadly, with storage companies showing mixed reactions to AI-fueled demand.
- Attention shifts to Monday’s open and the key U.S. data set for later this week.
Micron Technology, Inc. shares dropped 4.8% on Friday, closing at $414.88 after swinging between $407.13 and $455.50 during the session. After hours, the stock rebounded 1.7% to $422.01 on roughly 51 million shares—a volume far exceeding the three-month average. (Investing.com)
This change matters because Micron is a major proxy for the memory-chip sector tied to AI investment. Stocks like this tend to react fast when sentiment turns.
Friday’s session featured a widespread selloff in semiconductor stocks, pulling markets down. The Philadelphia Semiconductor Index dropped 3.87%. The Nasdaq Composite slipped 0.94%, while the S&P 500 lost 0.43%, according to Investing.com.
Storage stocks climbed, led by Sandisk’s 14.7% jump after it forecast third-quarter profit and revenue well above estimates and announced an extended flash supply deal. Morgan Stanley analysts pointed out that “earnings are above the long-term trend,” fueled by steady AI demand. Western Digital and Seagate Technology also gained recently, along with Micron. Morningstar analysts warned that supply constraints are likely to persist through 2028. (Reuters)
Micron’s latest investor update came in December, revealing fiscal first-quarter revenue of $13.64 billion. The company expects fiscal second-quarter revenue to hit about $18.70 billion, with a possible variance of $400 million. CEO Sanjay Mehrotra pointed to “record revenue and significant margin expansion.” (Micron Technology)
High-bandwidth memory, or HBM, plays a crucial role here—it’s a stacked form of dynamic random access memory (DRAM) located next to AI processors to boost data transfer speeds. Investors are watching the wider DRAM and NAND flash sectors closely, as prices continue to swing unpredictably.
The memory story can shift quickly. If supply exceeds demand or AI data-center orders slow, pricing power will erode and margins compress—especially for a stock trading near its 52-week high.
Monday’s session marks the first test following Friday’s holiday. Investors are gearing up for the U.S. January jobs report due at 8:30 a.m. ET on Feb. 6 — a crucial data point that could shake up growth stocks and chip shares alike. (Bureau of Labor Statistics)
