MU is trading at $496.33 (-5.38%) amid a sector-wide selloff in AI and semiconductor stocks triggered by reports that OpenAI missed internal revenue and user acquisition targets.
- The reported misses have raised significant concerns regarding the sustainability of massive AI infrastructure spending, impacting key industry partners like MU.
- The stock's decline follows a +5.60% gain to $524.56 in the previous session, while the Nasdaq has slipped 1.08% on broader tech caution ahead of the Fed meeting and earnings.