Micron Technology (MU) shares declined 2.25% to $286.04 on December 31, reflecting broader market losses and year-end profit-taking after the stock achieved a massive 230% year-to-date rally.
- The pullback occurred despite the company's strong fiscal Q1 2026 earnings, which reported $13.64B in revenue.
- The stock's long-term trajectory remains positive, driven by the strong demand outlook for AI and High Bandwidth Memory (HBM).
- Analysts maintain bullish ratings, citing the memory supercycle with price targets set as high as $500.