Why Micron Stock Is Plummeting Today
Micron Technology (NASDAQ: MU) stock is getting hit with big sell-offs Thursday. The memory-chip and storage company's share price was down 12.3% by midday. At the same point in the day's trading, the S 500 and the Nasdaq Composite were down 5.4% and 6.2%, respectively.
Micron skyrocketed yesterday after President Donald Trump announced a 90-day pause on his administration's reciprocal tariff policy for almost all countries. The lone carve-out in the tariff reprieve was China, which will instead see its tariff rate raised from an already-high 104% to 145%. Investors are focusing on the potential fallout of the escalating trade war and selling out of stocks today.
Whipsaw volatility is continuing for the broader market today, and Micron is seeing a big valuation pullback as investors weigh the potential for the trade war between the U.S. and China to continue intensifying. Concerns that China could move to invade or otherwise exert greater control over Taiwan sometime in the next several years are also adding to bearish sentiment.
Source Fool.com
Micron Technology Inc. Stock
The stock is one of the favorites of our community with 142 Buy predictions and 1 Sell predictions.
As a result the target price of 425 € shows a slightly positive potential of 13.79% compared to the current price of 373.5 € for Micron Technology Inc..
