Micron Technology Inc. (MU) declined 7.09% to $898.28 on Monday, extending a weekend selloff after reports indicated the Trump administration may permit Apple to procure DRAM from China-based CXMT and NAND flash from YMTC.
The drop comes despite Micron’s strong year-to-date performance, with shares still up 204% in 2025 and 663% over the past 12 months. Analysts noted the move appeared overblown, as CXMT is currently qualified for only a single, low-volume Mac SKU with suboptimal yields. Additional pressure on Asian memory names stemmed from Samsung’s disappointing shareholder-return plan.
On the technical front, hourly chart indicators signaled oversold conditions. The Relative Strength Index (RSI) for the 14-period hourly chart stood at 29.3, while the Commodity Channel Index (CCI) dropped to -306.6. The Stochastic RSI reached 0.0, and the Moving Average Convergence Divergence (MACD) posted a reading of -8.33, all reinforcing a bearish intraday trend. The Average Directional Index (ADX) for the hourly chart climbed to 32.4, confirming a developing downtrend.
Key support levels were identified at $883 (hourly S1), $868 (hourly S2), and $852 (weekly S2), with a potential bounce target at $925 (hourly R1). The weekly support at $909, previously lost, now acts as resistance. Daily chart metrics remained range-bound, with the ADX at 13.9 and RSI at 47.3, while the weekly MACD (116.2) and RSI (57.6) suggested a broader uptrend remained intact.
Analysts pointed to Xi Jinping’s planned U.S. visit on September 24 as a potential inflection point for Apple’s memory supply chain policy. The technical pullback followed a three outside down and falling three methods candlestick pattern on the hourly chart.
