Micron Technology, Inc. (NASDAQ:MU) stock fell in Tuesday premarket trading after closing down 5.95% in the previous session, as memory-chip stocks continued to face pressure from fresh supply and capacity concerns tied to rising artificial intelligence demand.
CNBC reported Monday that Seagate Technology Holdings Plc (NASDAQ:STX) stock dropped more than 6% after CEO Dave Mosley said building new factories or adding new machines “would take too long,” raising concerns about the industry’s ability to meet surging AI-driven demand.
Memory And Storage Stocks Extend Selloff
Memory and storage stocks extended losses in Tuesday’s premarket trading after a sharp selloff in the previous session. Sandisk Corp. (NASDAQ:SNDK) fell 3.00% in premarket trading after closing down 5.30% Monday.
Seagate declined 1.73% in premarket trading following a 6.87% drop in the prior session. Western Digital Corp. (NASDAQ:WDC) slipped 2.27% before the open after falling 4.84% on Monday.
Micron remained in focus after investor Steve Weiss of Short Hills Capital Partners trimmed his position following the stock’s recent rally, while maintaining a longer-term bullish stance on the memory-chip maker.
Micron Earnings & Analyst Outlook
Looking further out, the next major catalyst for the stock arrives with the June 24, 2026 (estimated) earnings report.
- EPS Estimate: $19.15 (Up from $1.91 YoY)
- Revenue Estimate: $33.51 Billion (Up from $9.30 Billion YoY)
- Valuation: P/E of 32.2x (Indicates premium valuation relative to peers)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $561.88. Recent analyst moves include:
- DA Davidson: Buy (Maintains forecast to $1000.00) (May 11)
- TD Cowen: Buy (Raises forecast to $660.00) (April 28)
- DA Davidson: Initiated with Buy (Forecast $1000.00) (April 28)
Micron Price Action
MU Price Action: Micron Technology shares were down 1.73% at $669.72 during premarket trading on Tuesday, according to Benzinga Pro data.
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