StocksMediumUpdated×2•Originally published 5 November 2026•Updated 5 November 2026•
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Micron Shares Plunge 12% on AI Buildout Concerns Following US Midterm Elections
Key Facts
1Micron and Western Digital shares fell 5% as the sell-off in the memory and storage sector continues.
2The declines are driven by lawmakers' calls for a temporary pause in AI development.
Micron shares plunged 12% on Thursday, November 5, 2026, breaking key support levels from July. The decline followed US midterm election results as investors weighed the prospects of a slower AI buildout amid voter opposition to new data center construction.
Micron was trading at $700.15 on November 5, 2026, down from its close of $795.23 on November 4, 2026. The sell-off impacted the broader sector, with Sandisk shares falling on fears of a decelerating AI expansion, while Western Digital closed at $323.83 on November 4, 2026.