Micron Technology, Inc. MU shares are trading lower by $1.00 (4 percent) at $22.89 in Tuesday's session.
Investors may be reacting to an article in DigiTimes that said the company may be ramping up Dram 1Xnm chip production, which may in turn drive prices lower do to an abundance of supply.
Its lower opening tick of $23.36 has turned out to be one penny from the high for the day at $23.37. The follow-through on the decline has taken the issue to $22.68 and it's attempting to reclaim the $23.00 handle.
The current low falls in between its January 24 low ($22.26) and its January 23 low ($23.19). Micron hasn't closed below $23.00 since January 24, when it ended that session at $22.85.
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