Micron Technology, Inc. (MU) Stock Rises After Entering Bear Market

Micron Technology, Inc. (NASDAQ:MU) is among the Ray Dalio Stock Portfolio.

On July 8, Barron’s reported that Micron Technology, Inc. (NASDAQ:MU) rebounded after entering a technical bear market, rising 0.3% on Wednesday after sliding 4.7% a day earlier. Barron’s said the prior decline left the  stock more than 20% below its recent closing high.

The report said investors rotated out of AI-linked stocks after President Donald Trump declared the US-Iran cease-fire was over, lifting oil prices and reviving concerns about inflation, interest rates, and AI infrastructure spending. South Korean memory makers Samsung Electronics and SK Hynix each fell nearly 6%.

Despite the pullback, Barron’s said Micron Technology, Inc. (NASDAQ:MU)  shares have more than tripled this year and argued the stock could double from current levels. It cited a Wall Street average price target of about $1,576, according to FactSet.

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Morgan Stanley analyst Shawn Kim wrote, “This reset on price does not mean the cycle is over,” adding that sustained or higher hyperscaler AI spending would make current memory-stock levels “a good entry point.”

Micron Technology, Inc. (NASDAQ:MU) provides innovative memory and storage solutions. It operates in the Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit segments.

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