Micron Worries Pile Up Ahead of Rival’s $10 Billion US Listing

Micron Technology Inc. is having a tough few weeks in the stock market, and the upcoming US listing of South Korean rival SK Hynix Inc. will only add to its challenges.

Shares of Micron, the third largest maker of memory chips in the world, blasted out of the gate to start the year, soaring almost 50% in January for the second best performance in the S&P 500 Index. But lately they’ve been weighed down by concerns about the memory sector and uncertainty in the broader market due to the war in Iran. Despite two big days last week and further gains on Monday, the stock is still down nearly 20% since hitting a high three weeks ago — and March was its worst month in almost four years.