Stock Market Today, March 30: Micron Technology Falls on TurboQuant Shock
Shares in Micron Technology (NASDAQ:MU), a leading memory and storage chip manufacturer, closed Monday at $321.80, down 9.88%. Investors shifted focus from record artificial intelligence (AI)-driven results to concerns that TurboQuant AI, recently released by Alphabet’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, could curb memory demand.
Trading volume reached 72.4 million shares, coming in almost 100% above its three-month average of 36.3 million shares. Micron Technology IPO'd in 1984 and has grown 22,682% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) slipped 0.39% to 6,344, while the Nasdaq Composite (NASDAQINDEX:^IXIC) lost 0.73% to finish at 20,795. Among semiconductor memory manufacturing peers, Sandisk (NASDAQ:SNDK) fell 7.04% to close at $572.50, and Western Digital (NASDAQ:WDC) dropped 8.60% to end at $251.67 as investors reassessed AI-related memory demand spending.
What this means for investors
Micron stock has tumbled this week as investors reset sky-high expectations for the memory chip giant. Chief among the pressures is Google’s TurboQuant algorithm, which promises to compress memory requirements by as much as six times.
Soaring memory demand was a key driver behind Micron’s surge of over 250% in the past year. The company issued blockbuster earnings earlier this month, but the stock has trended downward since as investors question the sustainability of its growth and $25 billion-plus capital spending plan.
For investors, the full impact of Google’s new algorithm is not yet clear. There’s a possibility that more efficient memory models could drive increased demand. It is important to focus on the stock’s long-term potential rather than headline-driven shocks.
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 $503,861!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,026,987!*
Now, it’s worth noting Stock Advisor’s total average return is 884% — a market-crushing outperformance compared to 179% 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 March 30, 2026.
Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Micron Technology, and Western Digital. The Motley Fool has a disclosure policy.
Recommended Articles
