Benzinga | Oct 12, 2021 10:51AM EDT

Why Micron Technology Shares Are Falling

Micron Technology, Inc. (NASDAQ:MU) shares are trading lower following reports suggesting the prices for the company's core DRAM memory chips are likely to decline next year.

According to research firm TrendForce, this decline can be attributed to not only the declining procurement activities of DRAM buyers going forward, but also the drop in DRAM spot prices ahead of contract prices.

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

Micron's stock was trading about 3.4% higher at $66.86 per share on Tuesday at the time of publication. The stock has a 52-week high of $96.96 and a 52-week low of $49.30.