Key Stats for Micron Stock
- Price change for Micron stock: -10%
- $MU Stock Price as of Mar. 30: $322
- 52-Week High: $471
- $MU Stock Price Target: $528
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What Happened?
Micron (MU) stock has had a brutal stretch. After surging almost 50% by mid-March, shares have now erased nearly all of those 2026 gains. In just eight trading sessions, the stock has fallen over 30%. Micron was down almost 10% on Monday and another 2% after hours.
The sell-off is a strange one because it started right after a blowout earnings report.
- Micron posted $23.86 billion in revenue for its fiscal Q2 2026 — nearly triple what it earned in the same quarter a year ago.
- The company also guided for gross margins of around 80% next quarter, a level that even tops Nvidia’s margins.
So why is Micron stock falling? A few things are going on.
- First, some investors took profits after a huge run into earnings.
- Citi analyst Atif Malik pointed to concerns about rising capital expenditures in fiscal 2027 and worries that margins may be peaking.
- When a stock has already priced in good news, even a strong report can trigger selling.
Then things got worse.
A breakthrough announced by Google spooked traders, who worried it could reduce demand for chips that rely heavily on memory.
That added another wave of pressure on Micron stock.
CEO Sanjay Mehrotra tried to reassure investors, saying that memory supply remains extremely tight.
He noted that key customers are only receiving “50% to two-thirds of their requirements.”
Micron, alongside SK Hynix and Samsung, controls nearly the entire market for high-bandwidth memory used by AI chip giants like Nvidia and AMD.
The earnings call echoed this. Executives said supply constraints will likely persist well beyond 2026, with meaningful new capacity not coming online until fiscal 2028 at the earliest.
Despite the drop, Wall Street analysts remain bullish.
Bank of America, Morgan Stanley, and JPMorgan all raised their price targets following the report.
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What the Market Is Telling Us About Micron Stock
This looks more like profit-taking after a massive run than a fundamental breakdown.
Micron stock is still up over 330% in the past 12 months and remains one of the few large-cap tech stocks in positive territory for 2026, with Oracle and Microsoft both down over 20%.
The underlying business is strong.
AI demand for memory is not slowing, and supply is genuinely constrained.
The Google news added short-term fear, but it doesn’t change the fact that the memory market remains historically tight.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
