Why Micron Technology Shares Are Falling

Micron Technology Inc MU shares are trading lower by 2.7% to $83.05 Tuesday afternoon. Shares of semiconductor and chip stocks are trading lower as Treasury yields rise, which has weighed on tech stocks.

The sector may be down in sympathy with ASML, which dropped following the Netherlands' decision to block the export of some lithography systems to China. The sector may also be pulling back after gaining in 2023.

What Happened With ASML?

ASML Holding's shares dropped Tuesday because the Netherlands limited the export of important lithography systems to China. These systems, the NXT:2050i and NXT:2100i, are crucial for producing advanced microprocessors.

The restriction aligns with earlier U.S. export limitations and follows a rule from September requiring Dutch semiconductor companies to get government permission for exporting specific chip-making gear...Read More

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According to data from Benzinga Pro, INTC has a 52-week high of $87.87 and a 52-week low of $49.55.