Micron (MU) Stock Is Falling But the Memory Numbers Tell a Different Story
TLDR
- Micron stock fell another 1.1% Wednesday after a sharp 7% drop the prior session, driven by bond yield fears
- NAND flash memory combined revenue for the top five brands rose 77% quarter-over-quarter to $68.87 billion
- Micron’s NAND flash market share by revenue jumped to 15.1% in Q2, up from 13.9%, overtaking Kioxia for third place
- Cathie Wood flagged high-bandwidth memory as the “most cyclical” and “most commoditized” part of the chip supply chain
- Analysts expect Micron to earn $31.27 per share in the next report, versus $3.03 a year ago, with a consensus Buy rating and average price target of $1,537.50
Micron Technology (MU) stock was down 1.1% in early Wednesday trading, sitting around $947, following a 7% selloff the session before. Chip stocks broadly came under pressure as rising bond yields sparked concerns about AI hardware spending.
The two-day slide comes despite data showing Micron is quietly gaining ground in the memory market.
Research firm Trendforce reported Wednesday that combined revenue for the top five publicly listed NAND flash memory brands surged 77% quarter-over-quarter in Q2, reaching $68.87 billion.
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