- Micron (MU) closed at $795.23 on November 5, down 7.00% from $855.10 and its worst day since August, while the S&P 500 rose 1.58%.
- Micron hit $782.00 intraday and is 34.5% below its June 25 record close of $1,213.56, yet remains up about 178.6% in 2026.
- Seagate fell 8.13%, SanDisk dropped 7.91% and Western Digital lost 6.77% in the same session, so the discount spread across storage names.
- Memory-price concerns added pressure: Kioxia issued a conservative December-quarter forecast on November 2, and Apple's chief executive called the company's memory pricing experience unprecedented.
- Micron reported fiscal Q4 revenue of $54.23 billion, up 379.3%, with non-GAAP EPS of $33.42 and an 87% gross margin; Q1 guidance calls for $61.5 billion in revenue.
- Over 75% of fiscal 2027 shipments are committed under 26 supply agreements running through 2030, and about one-quarter of that agreement revenue moves with market pricing.
- Micron trades at roughly 5 times forward earnings with about $68.27 billion in net cash, and its $35.16 billion buyback opens for purchases on December 9.
- An X post reportedly says SK Hynix (mostly) and Micron slowed Rubin shipments and the ramp; no other supplied document confirms this.