🔴 Micron Technology is trading 4.2% down in pre-market as CXMT’s DRAM plans raise competition concerns

Micron Technology is trading 4.2% down at $875.69 amid concerns that rival CXMT’s denser DRAM design and planned server-memory product could intensify future competition and pricing pressure.

• Broader pre-market weakness in memory chips reflects a global semiconductor sell-off after hotter-than-expected U.S. inflation revived rate concerns and weighed on technology shares.
• Reuters reported that semiconductor losses extended into a sixth day.