MU

According to options prices, Micron is expected to make a 14% move after its earnings report. Its profits have skyrocketed thanks to an AI-driven memory shortage.

Memory stocks get nailed

Expand NASDAQ: MU Micron Technology Today's Change (-13.18%) $-159.61 Current Price $1051.77 Key Data Points Market Cap $1.4T Day's Range $1038.50 - $1125.00 52wk Range $103.38 - $1213.56 Volume 58.5M Avg Vol 50.7M Gross Margin 58.54% Dividend Yield 0.04% Micron Technology (MU 13.18%), an AI-focused memory and storage chipmaker, closed at $1,051.77, down 13.18%. The stock fell sharply as a South Korea-led memory-chip selloff hit SK Hynix and Samsung, spilling into U.S. memory names ahead of Micron's June 24 earnings report.

Micron shares plummeted over 13% on Tuesday, falling as South Korea's Financial Supervisory Service contributed to a global chip sell-off with a warning about risky ETFs tied to memory chip companies like Samsung and SK Hynix.

Micron Technology, Inc. heads into fiscal Q3 earnings this week with elevated expectations, leaving MU stock prone to risks of extended volatility if guidance fails to clear a higher bar. This compounds near-term macro risk-off sentiment, which has already resulted in multiple compression across key beneficiaries of the AI memory supercycle. Any post-earnings pullback could still represent an opportunity, as ongoing supply constraints, expanding SCA adoption and emerging NAND momentum continue to skew Micron's growth and earnings trajectory to the upside.

The memory stock rally skidded to a halt on Tuesday as yesterday's tech sell-off expanded to new industries and countries.

Semiconductor ETFs came under pressure Tuesday as a sharp sell-off in South Korea's technology sector spilled over into U.S. chip stocks, raising concerns about the durability of the artificial intelligence-driven rally ahead of a closely watched earnings report from Micron Technology Inc (NASDAQ:MU).

U.S. stocks splintered Tuesday as a violent global sell-off in semiconductor shares hammered the Nasdaq, even as a rotation into defensive sectors and small caps kept the Dow Jones in positive territory through midday trading.

Today's swoon looks more like a gift than a warning for Micron investors.

One of the market's hottest stocks is set to report quarterly financial results with Micron Technology (NASDAQ:MU), scheduled to release third-quarter financials on Wednesday after market close.