Micron Technology’s shares fell 7.8% in morning trading on Monday, extending losses that pushed the stock down roughly 55% from recent peaks amid concerns over potential shifts in memory supply chains.
The decline followed weekend reports that the Trump administration may allow Apple to source DRAM from China’s CXMT and NAND flash from YMTC, raising investor concerns that a key customer could redirect orders to lower-cost Chinese suppliers. Micron, a primary memory supplier to Apple, has not commented on the reports.
Analysts pushed back on the severity of the threat. KC Rajkumar of Lynx Equity Research characterized the reaction as an overreaction, noting CXMT has only been qualified for a single low-volume Mac product with poor yield performance. The firm added that Micron’s long-standing supply agreements with Apple remain intact.
The selloff extended beyond Micron, with broader memory stocks declining after Samsung unveiled a 2026 shareholder-return plan that fell short of investor expectations. The plan’s perceived weakness triggered a sector-wide pullback in Asian memory equities, which carried over into U.S. trading as a sympathy move.
Additional pressure stemmed from ongoing patent litigation. Netlist, a patent litigation firm, filed new actions with the International Trade Commission and federal courts targeting Micron’s DDR5 RDIMM and MRDIMM products. The firm is seeking exclusion orders that could restrict certain memory lines from U.S. import and sale.
Despite the near-term headwinds, Micron’s next quarterly earnings, due in late September, are expected to reflect continued revenue and earnings growth driven by robust AI memory demand. The stock opened at $935.35 and touched a session low of $887.61, approaching a technical support level near $891.50.
Major U.S. indices posted modest losses, with the Nasdaq down 1.0% and the S&P 500 slipping 0.4%.
