Key Highlights
- Shares of Micron (MU) declined 2.1% on Thursday, extending Wednesday’s 10.6% loss, even as President Trump lauded the company on Truth Social.
- The President highlighted Micron’s $250 million commitment to Trump Accounts, describing it as a “HISTORIC” contribution.
- The decline reflects broader weakness across tech, with SanDisk (SNDK) falling 10% and Western Digital (WDC) dropping over 10%.
- International markets felt the impact too, as South Korea’s KOSPI tumbled 7.9%, SK Hynix plunged 14.6%, and Samsung declined 9.1%.
- Year-to-date, MU remains up approximately 262% in 2026, while Q3 results surpassed analyst projections on all metrics.
Micron Technology (MU) continued its downward trajectory Thursday morning, shedding 2.1% to trade near $1,007, extending losses from Wednesday’s severe 10.6% decline — even a enthusiastic presidential endorsement couldn’t reverse the momentum.
On Wednesday, President Trump took to Truth Social to describe Micron as “one of the HOTTEST anywhere in the World,” applauding CEO Sanjay Mehrotra’s commitment of $250 million toward Trump Accounts. These accounts serve as tax-advantaged savings programs for children under 18, with babies born from 2025 through 2028 receiving an initial $1,000 Treasury deposit.
The President doubled down Thursday with another post: “How about this? Micron, a GREAT American Company, announced that they are putting in 250 Million Dollars into the Trump Accounts for the future benefit of children.”
Investors’ reaction? Largely indifferent as selling pressure persisted.
This extends beyond Micron. The entire memory chip industry is experiencing significant pressure. SanDisk (SNDK) tumbled approximately 10%, Western Digital (WDC) declined more than 10%, and the iShares Semiconductor ETF (SOXX) pulled back despite recording a 6.19% gain over the previous week.
Global markets echoed the weakness. South Korea’s KOSPI index concluded Thursday’s session down 7.9%. SK Hynix plummeted 14.6% while Samsung shed 9.1%. Industry giants Intel and Nvidia also traded lower.
Taking Profits After Extraordinary Gains
Perspective is crucial. MU has surged approximately 262% year-to-date in 2026, with gains of roughly 754% over the trailing twelve months. The stock entered this week trading at premium valuations reflecting extremely high expectations.
Betting markets on Polymarket showed 98.5% probability for a down session before Thursday’s opening bell. Market participants anticipated the pullback.
Insider activity also merits attention. CEO Mehrotra divested $32.7 million in shares on June 26 through a predetermined 10b5-1 trading arrangement, executed near 52-week highs. While structured and compliant, such transactions at elevated prices draw scrutiny.
The Underlying Business Performance
Micron’s fiscal Q3 2026 results, released June 24, demonstrated impressive strength. Revenue reached $41.46 billion, representing 345.7% year-over-year growth and exceeding consensus by 17.6%. Adjusted EPS of $25.11 topped the $20.28 forecast — marking the seventh consecutive quarterly beat. GAAP gross margin expanded dramatically to 84.6% from 37.7% in the prior-year period.
For Q4, management projected revenue of $50 billion with EPS guidance of $31.00.
During the analyst call, Mehrotra revealed that [[LINK_START_4]]Micron[[LINK_END_4]] has executed 16 Strategic Customer Agreements representing roughly 25% of total revenue. Fourteen of these contracts are expected to generate approximately $100 billion in cumulative floor-price revenue.
Additionally, the company secured $22 billion through customer cash deposits and letters of credit tied to take-or-pay obligations. HBM4 shipments have already exceeded $1 billion, scaling at double the pace of HBM3E 12-high products.
The $250 million Trump Accounts commitment doesn’t materially impact Micron’s financial performance. The real drivers remain the transition to long-term contractual arrangements and accelerating HBM adoption — both narratives continue to hold.
MU last changed hands around $1,007, down 2.64% for the session.
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