MU is trading at $399.03 (-3.07%) as of 10:05 AM EST, falling for a second straight day on concerns over overproduction and memory pricing risks from competitors like Samsung.
- The decline occurs despite recent buy recommendations and price target hikes from Deutsche Bank ($500) and TD Cowen ($600).
- Peer semiconductor stocks are also retreating, with NVIDIA (-0.74%) and AMD (-2.24%) down ahead of NVDA earnings.
- The tech-heavy NASDAQ has dropped 0.91% as sector-wide pressure continues.