Micron Technology is trading 3.8% down at $711.20 in after-hours trading, extending a sharp multi-day slide as memory-chip stocks face a sector-wide correction.
- The decline follows disappointing earnings from SK Hynix, which sparked concerns regarding the sustainability of AI-driven demand and high market expectations.
- Sector weakness is being further exacerbated by fears of rising competition from Chinese manufacturers.
- The move is driven by broader industry trends and sentiment rather than any company-specific news or announcements from Micron today.