Micron Technology (MU) shares fell 3% in premarket trading on February 5th, continuing a retreat despite significant analyst support, including Mizuho raising its price target to $480 and Philip Securities initiating coverage with a 'Buy' rating and a $500 target.
- The premarket decline follows a sharp 9.55% drop on February 4th, closing at $379.40, amidst a broader tech sell-off.
- Investor focus remains on the company's recently announced $24 billion manufacturing expansion plan in Singapore.
- The stock has surged 282% over the past year, driven by strong AI-related memory demand, with 2026 EPS forecast at $32.19.