Micron dips 0.98%, lagging chip index as October slide deepens

Micron Technology lost 0.98% on Nasdaq on Oct 20, closing at US$896.07 against US$904.90 one session earlier. The PHLX Semiconductor Index, a gauge of US-listed chip stocks, slipped 0.29% over the same session, so Micron fared worse than the group.

BusinessKorea published a report that day on a new memory effort involving Micron and CXMT. It went out at 11:20 p.m. Seoul time on Oct 20. The report gave no details, and no outlet linked it to the day’s drop in Micron’s shares.

Down 15.87% since September ended

The Oct 20 loss adds to a longer slide. From its Sept 30 close, Micron has fallen 15.87%. The stock still sits above the US$878.84 close from Oct 16 cited in our earlier Micron report.

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Profit at its highest in at least six quarters

The decline runs against Micron’s latest results. In its fiscal fourth quarter, which ended Sept 3, 2026, revenue reached US$54.229 billion. That was 30.81% more than in the prior quarter and 379.27% more than a year earlier. Micron’s fiscal quarters end earlier than the calendar quarters Samsung Electronics and SK hynix report on. The figures were filed on Oct 9.

Operating profit, earnings from the core business before interest and taxes, came to US$43.751 billion. That was up 31.31% from the prior quarter and the highest in at least six quarters. Net income was US$37.701 billion.

Korean memory export prices still climbing

South Korea’s export price index for DRAM, the working memory used in servers and phones, stood at 289.16 in September 2026, according to the Bank of Korea (US dollars, 2020=100). It rose 2.26% from August and 247.72% from a year earlier. The flash memory index was 245.72, down 0.69% on the month but up 244.05% on the year. These indexes track memory-chip prices broadly, not Micron’s own prices.

That contrast, with strong results and higher memory prices on one side and a falling share price on the other, is what investors holding the Korean memory makers are watching too. In Seoul the next day, Maeil Business Newspaper reported that Samsung Electronics and SK hynix shares recovered, pointing to tight chip supply and AI-related demand.

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Information only, not investment advice.