Micron Stocks Fall 3.24% as NVIDIA Exit Tests Memory Rally After 11.9% Jump

What happened

Micron shares fell 3.24% to $785 in early trading on November 12 after NVIDIA’s CEO resignation weighed on memory stocks. The decline followed Micron’s 11.89% rise on Wednesday, which came after CoreWeave’s CEO said capacity was largely sold out through 2027.

Confirmed

Global impact / market context

The article links Micron’s recent rally to strong demand for computing capacity, which can support memory sales and revenue. The reversal shows how quickly sentiment can change: if demand expectations weaken, investors may reassess Micron’s growth outlook even though its guidance points to high profit per sale.

Analyst inference

Micron’s shares were still about 35% below their June 25 record close, despite the recent jump and guidance for fiscal first-quarter 2027 revenue of $61.5 billion, plus or minus $1.5 billion. The article also reports a valuation of about 10.6 times earnings.

Confirmed

What to watch

1. Watch for further company guidance on fiscal first-quarter 2027 revenue and gross margin, which is the share of sales remaining after direct production costs. Analyst inference
2. Track whether demand signals like CoreWeave’s report of capacity largely sold out through 2027 continue to support expectations for memory sales. Analyst inference
3. Observe whether Micron’s share price stabilizes after the NVIDIA CEO resignation triggered declines in memory stocks, including Micron and SK hynix. Analyst inference

Evidence

• gurufocus.com