Why Micron Shares Are Falling

Shares of several companies in the broader tech sector, including Micron Technology, Inc. MU, are trading lower as investors weigh Wednesday's Fed announcements and assess tapering outlook. Expected rate hikes for 2022 which could weigh on tech and growth stocks.

Micron shares are also trading lower amid overall market weakness as omicron variant concerns weigh on stocks across the broader tech sector.

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Micron historically focused on designing and manufacturing DRAM for PCs and servers. The firm then expanded into the NAND flash memory market. The firm's DRAM and NAND products tailored to PCs, data centers, smartphones, game consoles, automotives and other computing devices.

Micron has a 52-week high of $96.96 and a 52-week low of $65.67.