Micron Technology shares dropped 5.1% in premarket trading on Monday to $929.50 as a sharp selloff across the global semiconductor sector weighed heavily on memory-chip manufacturers. The decline followed a record drop in South Korean rival SK Hynix, whose shares tumbled more than 15% after investors locked in profits following last week's Nasdaq debut. Heavy selling in SK Hynix and Samsung Electronics pushed South Korea's KOSPI index down 9%, triggering a temporary trading halt, and the negative sentiment spread to SanDisk, Western Digital, and Seagate. Investor sentiment toward Micron was also pressured by Michael Burry's put-option position against the stock near $1,051.87 on July 1, 2026, and insider selling by CEO Sanjay Mehrotra under a pre-arranged trading plan, which reached its highest level since 2010. The weakness contrasted with gains in the broader U.S. market, where the S&P 500 rose 0.4%, suggesting sector-specific concerns rather than macroeconomic conditions drove the decline.
Seagate Technology PLC
Western Digital Corporation
Samsung Electronics Co Ltd
