Micron Technology Enters Bear Market After 26% Drop from 2026 High

According to Benzinga, Micron Technology (MU-US) stock entered bear market territory on Monday (July 26), having fallen over 26% from its 2026 high. The stock closed at $900.20 on Monday, dragged down by broad memory chip sector selloffs as investors took profits amid growing concerns over artificial intelligence spending sustainability.

Technical analysis signals further downside risk. The stock's relative strength index (RSI) has declined from a May high of 86 to 45, while a head-and-shoulders pattern with neckline support at $850 remains a critical level to watch. Meanwhile, Wall Street maintains an optimistic medium-term view, with consensus price targets at $1,268—approximately 37% upside—though near-term volatility is expected amid option market implied volatility near 99%.