It is difficult to predict exact impact of upcoming production cuts on share price, because this cannot be the only factor. General economic and market conditions in 2023 H1 could have stronger impact. However, it is undeniable at this point that earnings will drop a lot, because many costs are fixed, while sales volumes go down big. Capex cuts will not change, by definition, the impact on earnings.

In other words, the stock, together with other names from the sector, will be under pressure. Also, signs appear that memory chipmakers getting the shorter end of the stick, comparing to other chipmakers. Some logic and power IC makers/suppliers still report satisfactory demand and even inventory shortages.

In total, forward visibility is still low, and the stock performance will stay volatile. Please note, also, that tax-loss harvesting season is on.$Micron Technology(MU)$