Micron Technology, Inc. (NASDAQ:MU) shares closed down on Friday as the company celebrated the grand opening of its semiconductor assembly and test facility in India.

The move came during a challenging trading day, with major indices like the S&P 500 and Nasdaq also experiencing declines, adding pressure as broader markets edged lower.

The facility is designed to meet growing global demand for memory and storage products.

The new facility, located in Sanand, Gujarat, represents a significant investment of approximately $2.75 billion by Micron and its government partners.

It is expected to scale operations to assemble and test tens of millions of chips in 2026, ramping up to hundreds of millions by 2027, aligning with the increasing demand fueled by advancements in AI technology.

Additionally, the facility aims to meet or exceed Leadership in Energy and Environmental Design (LEED) Gold standards, incorporating advanced water-saving technologies to enable zero liquid discharge. This initiative not only enhances Micron’s operational capabilities but also supports India’s ambitions to become a global hub for semiconductor manufacturing.

The broader market experienced a downturn on Friday, with the S&P 500 falling by 0.83% and the Nasdaq declining by 0.63%. This market backdrop suggests that Micron’s stock movement may reflect broader sector pressures rather than solely company-specific issues.

Technical Analysis

Currently, Micron is trading approximately 9.8% below its 100-day simple moving average (SMA), indicating some bearish sentiment in the longer term. Over the past 12 months, shares have decreased, and they are positioned closer to their 52-week lows than highs, suggesting a challenging market environment.

The RSI is at 44.45, which is considered neutral territory, indicating no immediate overbought or oversold conditions. Meanwhile, MACD is at 0.15, below its signal line at 0.22, indicating bearish pressure on the stock.

The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that traders should remain cautious.

• Key Resistance: $455.50
• Key Support: $410.00

Earnings & Analyst Outlook

NASDAQ:MU is slated to provide its next financial update on March 18, 2026.

• EPS Estimate: $8.42 (Up from $1.56)
• Revenue Estimate: $18.89 billion (Up from $8.05 billion)
• Valuation: P/E of 39.5x (Indicates premium valuation)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $387.92. Recent analyst moves include:

• Needham: Buy (Raises Target to $450.00) (Feb. 17)
• Morgan Stanley: Overweight (Raises Target to $450.00) (Feb. 11)
• Mizuho: Outperform (Raises Target to $480.00) (Jan. 27)

MU Price Action: Micron Technology shares were down 0.50% at $410.31 on Friday, according to Benzinga Pro data.

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