Micron Technology Inc. (MU) Dips 11.09%

Micron Technology Inc. (MU) Dips 11.09%

Among the S&P 500’s biggest fallers on Friday September 27 was Micron Technology Inc. (MU). The stock experienced a 11.09% decline to $43.21 with 75.55 million shares changing hands.

Micron Technology Inc. started at an opening price of 45.90 and hit a high of $45.92 and a low of $42.91. Ultimately, the stock took a hit and finished the day at $5.39 per share. Micron Technology Inc. trades an average of n/a shares a day out of a total 1.1 billion shares outstanding. The current moving averages are a 50-day SMA of $n/a and a 200-day SMA of $n/a. Micron Technology Inc. hit a high of $51.39 and a low of $28.39 over the last year.

Micron has historically focused on providing DRAM for PCs and servers. The firm has expanded into the NAND flash memory market over the past decade. It increased its DRAM scale with the purchase of Elpida (completed in mid-2013) and Inotera (completed in December 2016).

With its headquarters located in Boise, ID, Micron Technology Inc. employs 36,000 people. After today’s trading, the company’s market cap has fallen to $47.7 billion, a P/S of n/a, a P/B of 1.35, and a P/FCF of n/a.

For all the attention paid to the Dow Jones Industrial Average (DJIA), it’s the S&P 500 that’s relied on by insiders and institutional investors. It represents the industry standard for American large-cap indices.

The Dow is made up of just 30 stocks to the S&P 500’s 500, and it uses an unreliable and outdated price-weighting system where the S&P 500 relies on market cap in weighting its returns. This is why its long-term returns is a much more reliable gauge for the performance of large- and mega-cap stocks over time.

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