Micron's Record Earnings Fail to Halt Stock Decline Amid Supply and Margin Fears
Micron Technology shares fell 1.5% to $1,080.89 on October 2, 2026, despite reporting record revenue of $54.23 billion and adjusted earnings of $33.42 per share. Investors remain cautious due to concerns over the cyclical nature of the chip industry and potential margin pressure. While CEO Sanjay Mehrotra stated that 75% of 2027 supply is already sold out, analysts warn that future GPU specifications and server memory standards could reduce demand. The stock has risen only 2% since the earnings release, reflecting skepticism about the sustainability of current profit margins.