Why Micron Stock Was Up and Down Today
Micron Technology (NASDAQ: MU) 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 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.
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.
Source Fool.com
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