- Micron fell 4.4% to $893 in morning trading on Oct 30, 2026, while the NASDAQ declined 2.2% and the S&P 500 dropped 1.3%.
- Renewed concern over CXMT's claimed DRAM breakthrough, including a 4F2 data center chip targeted for launch before year-end, was the primary catalyst for the selloff.
- Samsung Electronics' quarterly results missed analyst estimates despite record profits, and SK Hynix fell sharply in Seoul trading, pointing to sector-wide pressure.
- Alphabet's weaker-than-expected capital expenditure results fueled doubts about returns on AI infrastructure spending and weighed on technology stocks broadly.
- SK Hynix said memory orders have surpassed its supply for the next three years and expects demand to exceed supply through 2030.
- Micron guided fiscal Q1 2027 revenue to $60–$63 billion and ended fiscal 2026 with a 9x increase in adjusted EPS.
- Bank of America maintains a buy rating with a $1,550 price target and Citi holds a $1,300 target, both citing tighter memory supply in 2027 and 2028.
- In an earlier session, Micron rose 5.2% to $977 after SK Hynix results, a move that predates the Oct 30 decline.
Quotes
“expects the structure in which demand exceeds supply to persist through 2030.”
“a development traders have treated as a credible near-term threat”