Micron Technology NASDAQ:MU extended its brutal pullback Wednesday, with the AI memory leader now down more than 25% in less than 2 weeks despite still holding massive gains for 2026.
Micron shares slipped about 2% to trade near $921, sharply below their June 25 peak of $1,255 following the company's latest earnings report. The stock remains above its 50-day moving average, a level investors are watching as a potential source of technical support.
The selloff looks dramatic, but Micron is still up 212.7% year to date and carries a market capitalization of roughly $1.04 trillion, keeping it among the world's 15 largest companies. The reversal comes as investors reassess semiconductor valuations after a powerful AI-driven rally.