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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid a strong earnings season for the AI sector, Micron reported record revenue in Q3 FY26, up 346% year-over-year, according to Seeking Alpha. However, the market reacted negatively, with tech and semiconductor ETFs declining on inflation fears that threaten the AI economy.
Per market data, Micron stock (MU) closed at $1,132.33 on June 26, 2026, after hitting a high of $1,198.71 and a low of $1,121.36 during the session. These moves come amid global inflationary pressures, with recent data showing Canada's inflation rate rose to 3.2% in May, above expectations. Concerns over rising supply chain costs are also weighing on other semiconductor companies.
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Sign InAttention now turns to upcoming U.S. inflation data and Fed officials' remarks, such as Waller's speech scheduled for June 22. Investors are also awaiting results from other semiconductor firms to gauge continued AI demand. Near term, MU stock may face resistance at $1132.33 (session high) and support at $1,121.