Why Micron's Stock Is Trading Lower Today

Micron Technology MU shares are trading lower on Thursday after Deutsche Bank downgraded the stock from Buy to Hold.

A report also mentioned that DRAM and NAND flash currently has an oversupply until the first half of 2021, according to the president of Apacer Technology.

Finally, Micron CFO David Zinsner said today at KeyBanc's the Future of Technology virtual conference that the company there is some near-term uncertainty surrounding the company's revenue forecast over the next few quarters due to the pandemic.

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

Micron Technology shares were trading down 4.74% at $46.18 on Thursday at the time of publication. The stock has a 52-week high of $61.19 and a 52-week low of $31.13.