Micron Technology Inc. stock closed down 2.8 percent on Monday, a small drop that signals the market took Friday's death of CEO and chairman Steve Appleton in its stride, analyst say.

Micron's stock ended the trading at $7.72, down from $7.95 on Friday.

Mark Durcan, formerly the company's president and chief operating officer, was named CEO and a member of the board of directors over the weekend.