Micron Technology Inc is trading about 3% down at $966.00 as investors reassess lofty AI semiconductor valuations and rotate out of high-growth tech following recent weakness across chip stocks and broader indices.
- The drop follows a sharp 7.7% slide on June 4, 2026, from recent highs near $1,080, amid a broader sector-wide rotation.
- Market analysts suggest the move reflects profit-taking rather than a shift in long-term fundamentals, especially given recent enthusiasm over new multi-year AI memory supply deals.