NASDAQ:RATE 24 March 2026

March 24, 2026, 3:52 PM EDT. Micron's stock has fallen about 15% in four days despite a dominant second-quarter earnings report that showed revenue tripling to $23.86 billion. The memory chip maker benefits from soaring demand for artificial intelligence (AI) chips, which require large memory supplies. CEO Sanjay Mehrotra said supply is tight, delivering only 50% to two-thirds of key customers' needs. Micron's strong guidance includes gross margins around 80%. Analysts from Bank of America, Morgan Stanley, and JPMorgan raised price targets after the report. Despite the recent dip, Micron is up over 300% in the past year, uniquely gaining among top U.S. tech firms, while others like Microsoft and Oracle declined more than 20%. The stock fall may reflect profit-taking amid concerns over rising capital expenditure and peak gross margins.