Micron Technology's 13% drop clouds AI-driven rally ahead of earnings
Micron Technology is about to release its quarterly results, giving everyone a look at just how strong the demand for AI really is.
The company's stock has jumped over 800% in the past year, pushing its value above $1 trillion, higher than giants like Walmart and Intel.
But after a big tech selloff on Tuesday, Micron shares dropped 13%, raising questions about whether the AI hype can last.
Micron expected to report $35.59B revenue
Micron is expected to report $35.59 billion in revenue for the quarter ending May 31, 2026, a massive leap from last year's $9.3 billion and well above earlier predictions.
Earnings are also set to beat forecasts at $20.58 per share.
Plus, Micron just signed a multi-year deal with Anthropic to supply memory and storage for AI projects, highlighting new opportunities but also sparking concerns about rising costs and how sustainable this growth really is.