Why Micron Stock Is Falling Today
Key Points
Tech stocks are rallying Wednesday, but Micron's share price is moving lower.
ASML's recent earnings report appears to be impacting Micron.
ASML actually posted Q1 results that beat expectations and raised its 2026 sales forecast, but some investors wanted more.
- 10 stocks we like better than Micron Technology ›
Micron (NASDAQ: MU) stock is moving lower in Wednesday's trading despite bullish momentum for the broader market. The company's share price was down 3.5% as of 2:20 p.m. ET. At the same point in the daily session, the S&P 500 was up 0.5%, and the Nasdaq Composite was up 1.1%. Micron had been down as much as 5.7% earlier in the day.
Despite many tech and artificial intelligence (AI) stocks posting big gains in today's session, Micron's valuation is under pressure. The company's sell-off appears to be connected to the quarterly results of another major semiconductor player.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Image source: Getty Images.
Micron moves lower following ASML's earnings
ASML is the world's leading provider of extreme-ultraviolet-lithography (EUV) and deep-ultraviolet-lithography (DUV) machines used in the fabrication of advanced chips. In particular, the creation of Micron's most advanced high-bandwidth-memory (HBM) chips has been relying on EUV machines. As a result, ASML's quarterly reports and business updates can sometimes be a useful bellwether for Micron.
Despite ASML posting better-than-expected first-quarter results, the performance didn't come in as strong as some investors expected -- and concerns about export restrictions to China are also weighing on its valuation. The semiconductor manufacturing equipment company's Q1 report is causing a significant pullback for its own stock and Micron's.
What do ASML's Q1 results mean for Micron?
ASML posted a per-share profit of 7.15 euros on revenue of $8.77 billion in the first quarter, eclipsing the average analyst estimate's call for a per-share profit of 6.61 euros on sales of 8.66 billion euros in the period. In addition to posting Q1 sales and earnings beats, ASML also raised its full-year revenue target to between 36 billion euros and 40 billion euros. Previously, the company had guided for sales to be between 34 billion euros and 39 billion euros this year.
While some investors may have been looking for even stronger forward guidance, ASML's outlook for 2026 does not appear to be a major bearish indicator for Micron. The memory-chip specialist trades at a growth-dependent valuation, but the reaction to ASML's earnings and guidance could be overdone.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $573,160!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,204,712!*
Now, it’s worth noting Stock Advisor’s total average return is 1,002% — a market-crushing outperformance compared to 195% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of April 15, 2026.
Keith Noonan has positions in Micron Technology. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
Recommended Articles
