Micron stock slides 3.6% on China chip rival and Taiwan strike risk

Micron Technology stock fell 3.6% to $897.86 in morning trading, driven by competitive anxiety from China’s ChangXin Memory Technologies (CXMT) and a potential strike at its Taiwan facility. The decline follows CXMT’s October 13 announcement of a 4F² DRAM breakthrough and plans for a new data center chip by year-end. CXMT’s progress threatens Micron’s dominance in high-value server memory, while Taiwan’s President urged negotiations after workers at the Taoyuan plant authorized strikes over profit-sharing. Taiwan produces most of Micron’s DRAM, risking AI memory orders amid tight supply. KeyBanc reiterated a bullish price target, but macro headwinds from hotter U.S. inflation and Fed rate hike fears pressured tech stocks. The NASDAQ fell 0.6%, and the Philadelphia Semiconductor Index declined for a sixth straight session. Despite record fiscal 2026 results—revenue of $54.23 billion and adjusted EPS of $33.42—the stock has dropped sharply from its $1,255 high, with sentiment outweighing fundamentals.