MU is trading at $388.60 (-5.83%) in pre-market as escalating Middle East tensions and rising oil prices trigger a broader market selloff.
- The decline follows threats to the Strait of Hormuz, which pressured the S&P 500 and Nasdaq down 1.47% and 1.93% respectively.
- No company-specific negative news was reported; analysts recently maintained a $550 price target citing robust AI memory demand.
- The price action reflects sector-wide risk-off sentiment rather than a shift in Micron's fundamental outlook.