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Summary
Micron (MU) fell 5.78% to $833.59 on November 2, 2026, far more than the Nasdaq Composite's 1.07% decline.
Financial media tied the drop to Kioxia's cautious outlook for the December quarter and to renewed worries about AI spending.
Other chip stocks also fell, with Sandisk down 6.59%, and Micron closed 33.58% below its 52-week high.
Gotrade News - In the latest Micron stock news, Micron (MU) fell 5.78% to close at $833.59 on Monday, November 2, 2026, as memory chip stocks sold off. Financial media tied the drop in Micron stock to a cautious quarterly outlook from Japanese memory maker Kioxia and to renewed worries about AI spending.
MU Trading Data
Data
Value
Closing price
$833.59
Change
-$51.15 (-5.78%)
Previous close
$884.74
Open
$890.66
Day range
$829.24 to $892.08
Volume
29.9 million shares
30-day average volume
26.3 million shares
52-week range
$192.59 to $1,255.00
Market cap
$943.1 billion
Regular-session close on Monday, November 2, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since November 3, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Micron opened at $890.66, above the previous close of $884.74, but could not hold that level. Shares traded between $829.24 and $892.08 and finished just $4.35 above the day's low, near the bottom of the range. Volume reached 29.9 million shares, 13.55% above the average of 26.3 million.
The decline was much steeper than the broader market. The Nasdaq Composite fell 1.07% to 25,164.36 and the S&P 500 slipped 0.51% to 7,541.40, while the Dow Jones Industrial Average rose 0.41% to 51,983.98. That left Micron 4.71 percentage points behind the Nasdaq. The US 10-year Treasury yield eased 3.5 basis points to 4.89%.
Other chip stocks also fell hard. Sandisk (SNDK) lost 6.59%, Advanced Micro Devices (AMD) dropped 7.52% and Intel (INTC) declined 8.80%. After the session, Micron stood 33.58% below its 52-week high of $1,255.00 but 332.83% above its 52-week low of $192.59.
Financial media tied the drop to a cautious outlook from Kioxia. According to 24/7 Wall St., the forecast from Kioxia, Japan's largest memory chipmaker, turned an overnight gain in Micron into a loss and pulled memory stocks lower, while Kioxia's own shares fell in Tokyo.
According to Kioxia's first-half results filing dated October 30, the company expects non-GAAP operating profit of 2,000.0 billion yen and revenue of 2,500.0 billion yen for the October to December quarter, against 1,988.3 billion yen and 2,480.0 billion yen in the July to September quarter. As reported by 24/7 Wall St., the profit outlook came in below analyst estimates. Kioxia explained the guidance in the filing:
"While demand for data centers is expected to remain strong, factors such as the negative impact of exchange rates are expected to lead to revenue and profit for the third quarter being broadly in line with that of the second quarter." (Kioxia Holdings)
Per 24/7 Wall St., Kioxia CFO Yoshihiko Kawamura attributed the softer outlook mainly to shipment timing, with some orders shifting into the September quarter and others into the March quarter. Barron's reported that Micron struggled again on Monday as investors continued to worry about AI spending.
MU Stock Analysis: Supporting Factors and Risks
Supporting Factors
Kioxia's filing says demand for data centers is expected to remain strong, and 24/7 Wall St. reported that Kawamura described Kioxia's planned output for next year as sold out.
According to 24/7 Wall St., Micron's September 30 earnings report showed fiscal fourth-quarter revenue of $54.23 billion, up 379.3% year over year, and President and COO Manish Bhatia said more than 75% of shipments were committed for the year.
After the close, Barron's reported that Micron is likely to increase its stock repurchases starting December 9, when CHIPS Act restrictions on buybacks expire.
Risks
Kioxia guided December-quarter revenue and profit broadly in line with the September quarter, citing the negative impact of exchange rates, and its profit outlook fell short of analyst estimates, per 24/7 Wall St.
Barron's reported that investors continue to worry about AI spending, while 24/7 Wall St. described Micron's earlier rally as AI-driven.
24/7 Wall St. noted that skeptics see the cycle nearing its peak and that Micron's next earnings report will test whether AI memory pricing holds.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
