Micron Stock D falls as Broadcom’s AI Outlook Sways Semiconductors
Micron Technology (MU) shares dropped about 8% after Broadcom’s disappointing AI-revenue outlook weighed on AI-linked chip names, signaling cooler demand expectations for AI memory and related semiconductors. Broadcom’s strong results were offset by a cautious AI forecast, fueling valuation-driven selling in high-growth chip stocks. MU had recently surged to record levels, with insider equity disposals adding to caution. Analysts’ price targets remain below recent highs, and investors will be watching MU’s June 24 earnings report for fresh guidance amid ongoing AI-growth concerns and potential memory-supply constraints highlighted in industry chatter.