Micron Stock Drops Again But This Powerful Catalyst Can Reignite Rally

Micron Technology stock dropped once more Wednesday. Micron shares fell 3.5% to $903.77 on Wednesday, adding to a 13% loss over the past five trading sessions, although the stock remains up more than 700% over the past 12 months. “The tech sector is coming under pressure from a combination of higher rate expectations, which lowers the current value of more distant profits, and anxiety over elevated valuations and uncertainties over the monetization of AI,” wrote Mark Haefele, chief investment officer at UBS Global Wealth Management in a research note.