Micron Stock Plunge Sets Up a Big Monday Test for the AI Memory Trade
Micron shares plunged 13.3% to $864.01 Friday, erasing $150 billion in value after a sector-wide chip selloff triggered by Broadcom and a strong U.S. jobs report; despite record revenue guidance and tight supply outlook, investor fears over rate hikes and overbought conditions upended the AI-memory trade, with Micron’s next financial update set for June 24.