MU is trading at $369.65 (-3.3%) in pre-market, extending its post-earnings slide as investors weigh aggressive spending plans against rising competitive pressures.
- Shares remain under pressure following a $25B+ capex hike and a downgrade to hold by Summit Insights, despite beating Q2 estimates with $12.20 EPS and $23.86B in revenue.
- Intensifying HBM competition from Samsung and broader semiconductor volatility are fueling profit-taking after a 300%+ rally.