Micron Technology's (NASDAQ: MU) shares dropped approximately 8% following a significant decline in Broadcom's stock, which fell nearly 15% due to disappointing AI revenue expectations. This downturn in Broadcom triggered broader profit-taking in semiconductor stocks, especially those linked to AI. Micron's recent performance had shown a surge, but concerns about high valuations and insider sales pressure the stock downwards. Analysts remain cautious with target prices below recent levels, and the upcoming earnings report on June 24 is anticipated for fresh guidance amid concerns over AI growth and memory supply constraints in the industry.

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What's Going On With Micron Stock Today

Nauman Khan

Thu, June 4, 2026 at 3:20 PM EDT1 min read

This article first appeared on GuruFocus.

Micron Technology ( NASDAQ:MU) shares dropped about 8% on Thursday after a sharp slide in Broadcom (AVGO) weighed on semiconductor names and triggered broad profit-taking in AI-linked chip stocks.

Broadcom fell nearly 15% after its outlook failed to lift AI revenue expectations.

Micron Technology also came under pressure after Broadcom reported strong quarterly results but disappointed investors by holding its artificial intelligence revenue outlook steady, fueling concerns across high-valuation chipmakers. Analyst targets also remain well below recent trading levels, adding to caution in the sector.

Micron Technology shares had recently surged to record levels, leaving the stock exposed to valuation-driven selling, while insider activity showed notable equity disposals over the past months. The company briefly touched a market value near 1.2 trillion dollars before the latest pullback.

Micron Technology will next be watched for its June 24 earnings report, with traders awaiting fresh guidance as broader semiconductor sentiment remains sensitive to AI growth expectations. A June 3 industry letter highlighted potential AI memory supply constraints across key end markets.