MU is trading 9.7% down today at $1,093.52 as a broader technology selloff and profit-taking ahead of its upcoming earnings report weigh on the stock.
- The decline follows a sharp run-up over the past week and coincides with a 1.6% drop in the Nasdaq Composite, suggesting sector-wide pressure.
- Investors are repositioning ahead of the June 24 earnings announcement, with options markets currently implying a large price move.
- The price action appears driven by a mix of profit-taking and pre-earnings positioning rather than a new company-specific shock.