Benzinga | Aug 25, 2021 02:34PM EDT

Why Micron Technology's Stock Is Trading Higher Today

Micron Technology, Inc. (NASDAQ:MU) shares are trading higher in sympathy with Western Digital Corporation (NASDAQ:WDC) following a Wall Street Journal report indicating Western Digital is in advanced talks to merge with Japan's Kioxia Holdings Corp in a deal that could be valued at more than $20 billion.

The Wall Street Journal reported in March that Western Digital and Micron Technology were examining potential deals with Kioxia, which makes NAND flash-memory chips used in smartphones, computer servers and other devices. Micron's interest has since cooled and Kioxia has been focused on discussions with Western Digital, which already has deep existing ties with the Japanese company.

Micron Technology, Inc. designs, manufactures, and sells memory and storage products worldwide.

Micron's stock was trading about 4% higher at $74.89 per share on Wednesday at the time of publication. The stock has a 52-week high of $96.96 and a 52-week low of $43.67.