Micron Technology Inc. (NASDAQ:MU) stock fell nearly 4% in Monday premarket trading as investors pulled back from high-beta technology stocks. Nasdaq futures dropped 0.52%, while S&P 500 futures slipped 0.13%.
Micron’s decline comes as investors trim exposure to growth stocks ahead of the opening bell. The sharper drop in Nasdaq futures points to weaker risk appetite for technology names.
Micron remains near recent highs after a powerful longer-term rally. As a result, even modest weakness in the broader market can trigger sharper moves in the high-momentum semiconductor stock.
Technical Analysis
Micron remains in a strong long-term uptrend. The stock is 64.1% above its 200-day simple moving average of $571.10 and 15.9% above its 100-day SMA of $808.40.
