Why Micron Stock Was Up and Down Today | The Motley Fool

Micron Technology's stock experienced a volatile trading day, initially rising by 6.4% following strong earnings from Apple and Amazon that supported memory chip spending. As of 3:05 p.m. ET, shares fell by 4.1% despite the S&P 500 and Nasdaq showing gains. Concerns over rising interest rates, which have reached highs not seen in 19 years, negatively affected high-growth stocks like Micron. Despite optimism about continued demand due to a supply crunch, analysts caution that valuation might be too high, indicating potential instability in future earnings.

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By Johnny Rice–Jul 31, 2026 at 3:10PM EST

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Summarize with AI

Key Points

Shares of Micron initially rose after Apple and Amazon released their latest earnings.
Rising interest rates are dragging down growth stocks.

Micron Technology( MU-5.90%) stock began the day up, rising as much as 6.4%, before reversing course. Shares are now down 4.1% from the opening bell as of 3:05 p.m. ET on Friday. The S&P 500 was up 0.6% while the Nasdaq Composite gained 1%.

Micron's early jump was driven by fresh earnings from Apple and Amazon that showed no plans to shrink spending on memory chips. That wasn't enough to outweigh fear around rising interest rates.

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Micron Technology Stock Quote

NASDAQ: MU

Micron Technology

Today's Change

(-5.90%) $-51.63

Current Price

$823.03

Key Data Points

Market Cap

$930BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Day's Range

$818.00 - $930.88

52wk Range

$105.46 - $1255.00

Volume

54.5M

Avg Vol

53.5M

Gross Margin

72.60%

Dividend Yield

0.06%

Memory spending continues

Just days after Alphabet told investors it had no plans to reduce its capital expenditures, Apple and Amazon reiterated their spending plans, with Amazon upping its 2026 budget to $220 billion. Apple leadership told investors the memory supply crunch that has been fueling Micron and other memory-makers' revenue growth will continue for the foreseeable future.

A data center.

Image source: Getty Images

Interest rates on the rise

After the Federal Reserve announced it would not raise interest rates this week, despite persistent inflation, the bond market has reacted, and rates have reached 19-year highs. Higher rates, whether or not they are driven by the Fed, tend to weigh on stock prices, especially high-growth stocks like Micron.

The bottom line

Micron is likely to see its earnings continue to soar as the supply crunch continues, but I don't think it will last as some believe, and, with that in mind, the valuation is too rich for me.