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Memory Prices Rose Again, but Micron Stock Is Slumping Hard
By Adam Clark
Updated July 01, 2026, 4:39 pm EDT / Original July 01, 2026, 6:07 am EDT
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Key Points
About This Summary
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Micron Technology stock falls amid a broader selloff in technology stocks.
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June contract prices rose around 3% for some DRAM configurations and 2.4% for NAND flash memory from the previous month.
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KeyBanc analyst John Vinh expects positive pricing trends through 2026, noting meaningful capacity isn’t expected until 2027.
Micron Technology stock fell sharply Wednesday amid a wider selloff in technology stocks. However, prices for its memory chips are only heading upward.
The shares closed down 10.6% Wednesday at $1,032.28, while the tech-heavy Nasdaq 100 fell 1.5%. Other memory chip stocks got hit too, with Sandisk off 10.6%, Western Digital down 6.3%, and Seagate Technology Holdings off 5.2%.
Micron has become a volatile stock with a nearly 750% gain in the past 12 months. However, Barron’s has previously argued it could double from its current levels as booming memory demand driven by artificial-intelligence hardware moves it beyond its normal boom-and-bust cycle.
Data on memory contract prices showed some standard configurations of DRAM, or dynamic random-access memory, were up around 3% in June from the previous month, while NAND flash memory rose 2.4%, wrote KeyBanc analyst John Vinh in a research note Tuesday.
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“While the industry is building out capacity in response to AI-driven DRAM/HBM demand, meaningful capacity is not expected until 2027, which still will not be meaningful enough to close the gap,” wrote Vinh.
“Given the constrained supply environment, industry production discipline, and outsized data center demand for HBM and DDR5, we anticipate a continued strong demand and positive pricing trends through 2026 for both NAND and DRAM,” he added.
Vinh has an Overweight rating and $1,600 target price on Micron stock.
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—Anita Hamilton contributed to this article
Write to Adam Clark at adam.clark@barrons.comExternal link
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