Why Micron Stock Is Moving

Micron Technology Inc MU shares are trading lower by 1.77% to $64.28 Friday afternoon. The stock is trading lower alongside the Nasdaq-100 after July PPI data showed greater-than-expected inflation.

Higher inflation often leads to increased production costs, including raw materials and manufacturing inputs. As a semiconductor manufacturer, Micron relies on various materials and components. If these costs rise significantly, it could squeeze the company's profit margins.

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If inflation exceeds expectations, the Fed might consider raising interest rates. Higher interest rates could make borrowing more expensive for companies like Micron, impacting their capital expenditures and investment plans.

According to data from Benzinga Pro, Micron has a 52-week high of $132.83 and a 52-week low of $54.57.