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What's Going on With Micron Technology Stock Thursday?
Benzinga • • business
Key Points:
- Micron Technology's stock fell over 2% in premarket trading amid a broader cooling of risk appetite in tech stocks, with Nasdaq futures down 0.42% and S&P 500 futures slipping 0.04%.
- Despite the recent pullback, Micron remains significantly above its 50-day and 200-day moving averages, indicating the longer-term uptrend is intact, though it is currently about 4.1% below its 20-day moving average.
- The stock's relative strength index is neutral at 51.95, suggesting it is consolidating recent gains without extreme buying or selling pressure; key resistance is near $1,089.50, and support is near $991.
- Analysts are bullish ahead of Micron's earnings report scheduled for September 22, 2026, with expected earnings of $31.24 per share and revenue of $50.72 billion, and the stock holds a Buy rating with an average price target of $1,542.05.
- Despite strong momentum and growth scores, Micron's valuation is considered weak due to its sharp rally, and ETF exposure remains a factor that could influence stock price through automatic buying or selling.
