What happened: Micron stock was poised to rebound 7% on Monday following a one-day market plunge.
What’s behind the move: The memory chip maker was on track to recover some of Friday’s losses after its shares plunged 13% alongside a broad market selloff that sent both the Nasdaq Composite (^IXIC)and the S&P 500 (^GSPC) plummeting.
Micron has been a semiconductor leader this year, surging more thn 200% year-to-date.
The rest of the chip complex was poised to rebound on Monday, including memory and storage maker Sandisk (SNDK), AI chip manufacturers Nvidia (NVDA) and AMD (AMD).
What else you need to know: Memory has been a major bottleneck in the AI trade, with demand expected to surge into 2027.
Micron has been a leader within the semiconductor complex, pushing the broader markets to all-time highs in recent weeks.
Last month Micron Technology (MU), Samsung Electronics (005930.KS), and SK Hynix (000660.KS) all made headlines as they reached $1 trillion valuations for the first time.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
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Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
