🔴 MU is trading 4.02% down today as capex hike sparks supply glut fears despite earnings beat

MU is trading at $443.17 (-4.02%) as a sharp sell-off follows a massive capex hike, overshadowing a Q2 earnings beat driven by AI memory demand.

• Micron crushed estimates with $23.86B in revenue and $12.20 EPS, but a planned $5B capex increase for 2026 and further hikes in 2027 raised concerns over a potential supply glut.
• Broader market volatility from Fed hawkishness and Middle East tensions added downward pressure, with the Nasdaq falling 0.74%.