Why Micron Stock Sank Today
Micron Technology (NASDAQ: MU) stock ended Monday's trading in the red. The company's share price fell 3% in the session and had been down as much as 4.6% earlier in the day. The S 500 index fell 2.4%, and the Nasdaq Composite ended the day down 2.6%.
Micron's valuation moved lower today as investors reacted negatively to President Trump's latest comments targeting the Federal Reserve and its Chair Jerome Powell. The stock is now down 21% year to date and 56.5% from its high.
In a message posted to Truth Social today, President Trump said that Fed Chair Jerome Powell was a "major loser" and called him "Mr. Too Late" -- a moniker referencing a belief that the central-bank leader has been slow in lowering interest rates. While Powell was nominated by Trump in his first term, the president has clearly soured on the Fed leader's approach to monetary policy. The Trump administration is conducting legal analysis to determine whether it has the power to fire Powell before his term as Fed Chair ends in 2026, and investors are concerned that such a move could have a destabilizing effect.
Source Fool.com
Micron Technology Inc. Stock
The stock is an absolute favorite of our community with 136 Buy predictions and no Sell predictions.
As a result the target price of 386 € shows a slightly positive potential of 10.6% compared to the current price of 349.0 € for Micron Technology Inc..
