Stock Track | Micron Technology Plunges 5.23% in Pre-Market as Broadcom's Disappointing AI Guidance Triggers Semiconductor Selloff

Stock Track16:13

Micron Technology's stock experienced a 5.23% plunge in pre-market trading on Friday, extending losses from the previous session as the semiconductor sector faced continued selling pressure.

The selloff was primarily triggered by disappointing quarterly results and AI revenue guidance from fellow chipmaker Broadcom. Broadcom's report, which included Q3 AI revenue guidance that fell short of some analyst expectations and a mere reaffirmation of its fiscal 2027 AI revenue target without an upward revision, caused investors to question the near-term pace of AI demand growth. This sparked a broad rotation out of semiconductor stocks that had seen substantial gains.

Additional pressure on Micron came from analyst warnings that memory-chip prices could be nearing a peak in the current cycle sooner than previously anticipated. Raymond James analyst Karl Ackerman noted that DRAM and NAND average selling prices could peak in mid-2026, earlier than the mid-2027 timeline many had expected, citing potential supply increases from Chinese manufacturers and demand reduction from other industries like smartphones.

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