Micron Technology Inc. ($MU) Stock Forecast: Down 5.6% Today

What is Micron Technology Inc.?

Micron Technology Inc. (MU) is a leading semiconductor company that specializes in memory and storage solutions for various applications such as computing, consumer electronics, and cloud services. The overall market sentiment has been mixed with chipmakers struggling and other assets like gold and Bitcoin rebounding.

Why is Micron Technology Inc. going down?

MU stock is down 5.6% on Jun 27, 2024 19:20

• Micron experienced a significant decline in stock value today despite reporting strong Q3 performance, as concerns arose over the company's modest Q4 guidance.
• Despite receiving a price target increase from Piper Sandler and maintaining a Buy rating from CFRA, these positive developments were insufficient to offset the prevailing negative market sentiment towards Micron.
• The company faced challenges amid a subdued trading day and broader difficulties in the chipmaker sector, potentially contributing to the decline in Micron's stock price.
• Investors appeared to react to Micron's recent earnings report and guidance, leading to downward pressure on the company's shares despite favorable analyst assessments.

MU Price Chart

MU News

Three-Stock Lunch: Micron, Walgreens Boots and Levi Strauss

Anthony Forcione, Rockland Trust portfolio manager, joins ''Power Lunch'' to discuss stock plays for three stocks.

https://www.cnbc.com/video/2024/06/27/three-stock-lunch-micron-walgreens-boots-and-levi-strauss.html

Micron''s Stellar Q3 Performance Overshadowed by Modest Q4 Guidance

Micron''s Stellar Q3 Performance Overshadowed by Modest Q4 Guidance

https://www.gurufocus.com/news/2465230/microns-stellar-q3-performance-overshadowed-by-modest-q4-guidance

Stocks Show Modest Gains Ahead Of Fed''s Inflation Report; Chipmakers Struggle, While Gold And Bitcoin Rebound: What''s Driving Markets Thursday?

… a subdued trading day on Thursday, as traders likely … market , lower yields and a slightly weaker dollar spurred rebounds. Gold … quarterly earnings. Other stocks reacting to company earnings were Micron … does not provide investment advice. All rights reserved …

https://www.benzinga.com/markets/equities/24/06/39532797/stocks-show-modest-gains-ahead-of-feds-inflation-report-chipmakers-struggle-while-gold-and-bitco

Micron Technology shares get price target boost by Piper Sandler

https://www.investing.com/news/company-news/micron-technology-shares-get-price-target-boost-by-piper-sandler-93CH-3499936

https://www.investing.com/news/company-news/micron-technology-shares-get-price-target-boost-by-piper-sandler-93CH-3499936

Micron shares hold steady as CFRA maintains Buy rating

https://www.investing.com/news/company-news/micron-shares-hold-steady-as-cfra-maintains-buy-rating-93CH-3499935

https://www.investing.com/news/company-news/micron-shares-hold-steady-as-cfra-maintains-buy-rating-93CH-3499935

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Micron Technology Inc. Price History

27.05.2024 - MU Stock was up 5.2%

• Micron Technology's stock (MU) dropped by 10.6% post the unveiling of its mixed second-quarter earnings, where adjusted EBITDA and free cash flow fell short of what analysts had predicted.
• The market response highlighted elevated expectations, particularly regarding the company's significant presence in the growing AI sector. Sales in the DRAM segment, poised to benefit from AI, failed to meet Wall Street's projections.
• Despite surpassing anticipated adjusted earnings per share and revenue figures, Micron's forecast for fiscal Q4 2024, which indicated lower revenue than analysts' forecasts, contributed to the stock's decline.
• The disparity between Micron's revenue guidance and market anticipations impacted not only its stock but also had repercussions on Nvidia (NVDA) shares, which came under pressure following Micron's earnings release.

27.05.2024 - MU Stock was up 5.9%

• MU stock experienced a strong bearish movement today due to its latest earnings report failing to meet investors' expectations, particularly in terms of revenue guidance.
• The disappointing revenue outlook for fiscal Q4 2024, falling below analysts' expectations, led to a sell-off in MU shares.
• The broader chip sector also saw a decline, with profit-taking contributing to the negative sentiment surrounding semiconductor stocks.
• While MU's earnings were not exceptional, they were still respectable, indicating that the market may have overreacted to the results, presenting a potential buying opportunity for investors with a long-term outlook.

27.05.2024 - MU Stock was up 6.2%

• Micron's stock trended downwards despite surpassing earnings expectations and giving guidance in line with estimates, hinting at a potential correction for overvaluation.
• Analysts consider the decline in Micron's stock as a chance to buy, implying that the market shift could be temporary.
• The announcement of Amazon entering the $2 trillion club may have caused investors to focus on tech giants like Amazon, resulting in a sell-off of Micron shares.
• Interest from an activist investor in cybersecurity firm Rapid7 for a possible acquisition might have detracted attention from Micron, contributing to the decline in the stock price.

27.05.2024 - MU Stock was up 7.0%

• Micron Technology recently released its 2024 sustainability report highlighting progress in reducing greenhouse emissions, improving pay equity, and enhancing memory technology innovation. Despite these positive advancements, the market response may have been negative possibly due to a lack of alignment between the overall sentiment and the company's sustainability initiatives.
• Speculation around Jana Partners advocating for a sale of Rapid7 (NASDAQ: RPD) could have diverted investor attention from Micron Technology, causing a downturn in its stock price.
• The milestone of Amazon (NASDAQ: AMZN) reaching the $2 trillion valuation club might have drawn investors away from Micron Technology, impacting the stock's performance adversely.
• Various external factors such as market fluctuations, competitor updates, and investor outlooks likely played a role in the bearish movement observed in Micron Technology's stock today.

27.05.2024 - MU Stock was up 5.6%

• Micron stock fell over 5% due to a disappointing fiscal fourth-quarter revenue outlook, overshadowing its third-quarter topand bottom-line beats.
• The lackluster earnings guidance and in-line revenue estimates contributed to the negative sentiment surrounding the stock.
• Despite crushing Q3 earnings and revenue estimates, the market focused more on the future outlook, leading to the bearish movement.
• Investor concerns about Micron's ability to sustain growth and navigate challenges in the semiconductor industry might have fueled the sell-off.

27.05.2024 - MU Stock was up 5.7%

• Micron Technology (MU) experienced a strong bearish movement today following its third-quarter earnings report.
• Despite beating analyst estimates on earnings and revenue, the stock fell about 5% overnight due to the company's lackluster top-line guidance.
• The sell-off in Micron had a ripple effect on the overall market, denting the bullish sentiment that has been driving the tech-driven rally.
• Analysts attributed the stock plunge to Micron's revenue forecast, which failed to live up to the AI hype, causing investors to reevaluate their positions in the company.

27.05.2024 - MU Stock was up 5.1%

• Micron's stock plunged about 5% despite beating analyst estimates on earnings and revenue, with analysts pointing to the company's revenue forecast as the reason for the decline.
• The market reaction suggests that investors may have been disappointed by Micron's failure to live up to the AI hype, even though the company reported positive financial results.
• The overall sentiment towards high-growth stocks, including Micron, seems to be shifting, as indicated by the recommendation to consider diversifying away from certain stock darlings.
• This bearish movement could be a reflection of investors reassessing the long-term prospects of companies like Micron, leading to a more cautious approach in the current market environment.

21.05.2024 - MU Stock was up 5.1%

• Micron's stock experienced a bearish movement, possibly due to profit-taking after a recent rally in semiconductor and AI-related stocks.
• A downgrade by Aletheia Capital amid concerns over HBM3E execution might have contributed to the negative sentiment surrounding Micron's stock.
• Despite the bearish movement, Micron's Q3 earnings are expected to benefit from increased investments in AI, indicating long-term growth potential for the company.
• The overall volatility in the semiconductor industry, along with specific concerns raised by analysts, could have influenced the bearish trend in Micron's stock today.

21.05.2024 - MU Stock was up 10.4%

• Aletheia Capital downgraded the stock, citing worries about the execution of HBM3E technology, leading to a negative impact on investor sentiment.
• Despite a generally optimistic outlook for the AI sector and its anticipated growth, Micron encountered specific challenges that contributed to its bearish performance.
• Discussions regarding Micron's upcoming earnings report and comparisons with companies like Nike underscored the divergent trajectories observed in the market.
• Despite Jim Cramer including Micron in his portfolio, the endorsement did not immediately boost the stock, indicating the influence of short-term market dynamics on today's downward movement.

20.05.2024 - MU Stock was up 5.0%

• Micron Technology Inc (MU) faced a bearish market movement today despite its presence in Jim Cramer's latest stock recommendations, indicating a divergence from the bullish sentiment.
• The delay in Micron's ambitious plan to build semiconductor fabs in Syracuse, New York, due to environmental hurdles, might have contributed to the negative market sentiment.
• The bearish stance taken by wealthy investors or institutions on Micron, as indicated by publicly available options history, could have added selling pressure on the stock.
• The overall bullish market sentiment, with US stocks hitting all-time highs and Nasdaq futures gaining for the 8th consecutive day, might have further highlighted Micron's underperformance, leading to profit-taking by investors.

18.05.2024 - MU Stock was up 5.5%

• A price target increase by Wedbush before earnings was a promising sign for Micron, hinting at positive sentiment and growth potential.
• Positive market sentiment, reflected in the rise of the S&P 500 and Dow, along with expectations of interest rate cuts, likely influenced the upward trend in Micron's stock.
• Inclusion in Bank of America's US 1 List might have instilled confidence in investors, contributing to Micron's upward momentum.
• The expectation of robust performance in the latter part of 2024 for selected stocks, including Micron, could have attracted investors seeking growth opportunities.

18.05.2024 - MU Stock was up 8.0%

• Micron Technology (MU) demonstrated a robust uptrend, potentially influenced by favorable market sentiment towards the semiconductor industry.
• The company's inclusion in BofA's US 1 List and the raised stock price target to $170 at Wedbush before its Q3 results might have played a role in the upward movement.
• Similar efforts in Karnataka to attract semiconductor investments, akin to those in Gujarat for Micron, could have boosted investor confidence in the company's future growth.
• The bullish movement of Micron reflects both internal developments and the optimistic market sentiment towards the semiconductor sector amidst broader market uncertainties.