Overview
- Micron shares fell about 10% Monday, extending a five‑session drop of roughly 20% and leaving the stock down around 30% since its March 18 earnings surge.
- Investor nerves were hit by Google’s TurboQuant, a new compression method that Google says can cut memory needed to run large language models by up to six times.
- Micron’s operations remain tight despite the selloff, with record fiscal Q2 results of $23.86 billion revenue and $12.20 EPS, guidance to $33.5 billion next quarter, and key customers receiving only about half to two‑thirds of requested supply.
- Heavy spending has become a flash point as Micron plans more than $25 billion in fiscal 2026 capital outlays and expects construction costs to rise by over $10 billion year over year in fiscal 2027.
- Most on Wall Street still rate the stock a Buy, with Morgan Stanley defending the group and a consensus target near $536, while a few voices warn that lofty expectations, big capex plans, and efficiency gains could squeeze future pricing and margins.