TradingKey – On July 16, Micron Technology (NASDAQ: MU) was trading around $853.20, marking a drop of roughly 5.6% amid a wider sell-off in the semiconductor space. Despite the dip, Micron’s market capitalization still sat at nearly $977 billion, a level that captures the stock’s significant run-up in 2026, as well as investors’ growing conviction on AI demand and pricing power for memory chips.

The pullback in price, however, comes on the back of a strong fiscal period for Micron, as shortages of high-bandwidth memory, DRAM and data-center storage products have given the company notable pricing power as cloud providers ramp up AI infrastructure investments. Now the big question is whether the environment that Micron finds itself…