Micron Slumps Nearly 10% as Post-Earnings Sell-Off Deepens

According to a report by CNBC, shares of Micron Technology fell sharply by 9.8% on Monday, extending a broader sell-off following its recent earnings release.

Although the stock saw a brief rebound last Friday—ending a six-day losing streak—it resumed its decline at the start of the week. Since reporting strong quarterly results on March 18, Micron’s share price has dropped by approximately 30%, reflecting shifting market sentiment despite solid fundamentals.

The broader technology sector also experienced notable declines, driven in part by rising oil prices amid ongoing geopolitical tensions involving Iran, as well as renewed threats from Donald Trump regarding potential actions against Iranian oil infrastructure. Emerging cloud companies such as CoreWeave and Nebius saw their shares fall by 7.5% and 8.5%, respectively. Memory and storage firms including SanDisk and Western Digital also declined significantly.

Micron’s strong second-quarter performance was largely driven by robust demand for artificial intelligence (AI) memory solutions. Alongside SK Hynix and Samsung Electronics, the company remains a key provider of high-performance memory used in AI chips, including those deployed in systems developed by NVIDIA. The rapid expansion of AI applications has intensified demand, leading to ongoing supply constraints.

Following the earnings release, Micron CEO Sanjay Mehrotra noted that major customers are currently receiving only about half to two-thirds of their required supply, highlighting continued tightness in the market.

Despite the recent pullback, Micron’s stock had surged approximately 270% over the past year. However, much of those gains have been eroded in 2026, with the stock now up only around 2% year-to-date.