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Micron Stock Tumbles Further After Entering Bear Market
By Adam Clark
Updated July 08, 2026, 11:46 am EDT / Original July 08, 2026, 6:17 am EDT
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Micron Technology shares rose in early trading Wednesday, recovering from a 4.7% loss the previous day.
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The stock’s previous decline entered a technical bear market, defined as a drop of more than 20% from its recent closing high.
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Investors fled artificial-intelligence stocks amid renewed U.S.-Iran conflict and rising oil prices, which reignited inflation concerns.
Micron Technology declined Wednesday as renewed conflict between the U.S. and Iran took its toll on shares of the memory-chip maker and other artificial-intelligence stocks.
Micron shares fell 2.2% to $918.53 on Wednesday, extending losses from Tuesday. The S&P 500 was down 1%, the Dow Jones Industrial Average dropped 1.5%, and the tech-heavy Nasdaq Composite declined 1%.
Micron stock suffered a 4.7% loss the previous day that took it into a technical bear market, which is defined as a more than 20% fall from its recent closing high.
Micron’s South Korean rivals Samsung Electronics and SK Hynix both fell close to 6% on Wednesday.
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Investors were fleeing stocks that have benefited from artificial-intelligence spending. President Donald Trump’s declaration the U.S.-Iran cease-fire was “over” early Wednesday was causing a rise in oil prices, reigniting inflationary concerns, and heightening worries about rising interest rates, which could hit spending on AI infrastructure.
However, Barron’s has argued Micron stock could double from its current levels as booming memory demand from AI companies moves it beyond its normal boom-and-bust cycle. The average price target across Wall Street analysts is around $1,576, according to FactSet.
“This reset on price does not mean the cycle is over. Instead, it is more likely that this is a necessary reset for the cycle to eventually extend. Bear in mind that we have had three such resets since Generative AI was launched in the fall of 2022,” wrote Morgan Stanley analyst Shawn Kim in a research note this week.
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While rising oil costs will fuel preoccupation about rate hikes, so far the signs are that Big Tech wants to keep spending on AI hardware. On Wednesday, Amazon.com said it would look to issue at least $25 billion worth of debt.
The “real tell” will be the coming earnings season and whether hyperscale companies keep or raise their capital expenditure guidance, wrote Morgan Stanley’s Kim. If so, then current levels for memory stocks will be a “good entry point”.
Write to Adam Clark at adam.clark@barrons.comExternal link
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