Key Takeaways
- Shares of Micron (MU) declined 2.1% on Thursday following a steep 10.6% plunge the previous day, even as President Trump highlighted the company on social media.
- The President touted Micron’s $250 million commitment to Trump Accounts as a “HISTORIC” contribution to the savings initiative.
- A broader technology sector downturn affected memory chip stocks, with SanDisk (SNDK) declining 10% and Western Digital (WDC) falling over 10%.
- International markets felt the pressure as South Korea’s KOSPI tumbled 7.9%, dragging SK Hynix down 14.6% and Samsung lower by 9.1%.
- Year-to-date, MU shares remain up approximately 262% in 2026, with Q3 results surpassing analyst projections on all key metrics.
Shares of Micron Technology (MU) continued their downward trajectory Thursday morning, shedding 2.1% to trade near $1,007 after experiencing a punishing 10.6% decline the day before — even a high-profile presidential endorsement couldn’t stem the bleeding.
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 announcement of a $250 million contribution to Trump Accounts. These accounts function as tax-advantaged savings programs for minors under 18 years old. Children born during 2025-2028 automatically receive $1,000 from the U.S. Treasury.
Trump amplified his message Thursday with an additional post stating: “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? They continued selling.
This downturn extends beyond Micron alone. The entire memory semiconductor space is experiencing significant pressure. SanDisk (SNDK) tumbled approximately 10%, Western Digital (WDC) shed more than 10%, and the iShares Semiconductor ETF (SOXX) retreated despite posting a 6.19% gain over the previous week.
Global markets joined the decline. South Korea’s KOSPI benchmark closed Thursday down 7.9%. SK Hynix plummeted 14.6% while Samsung decreased 9.1%. Intel and Nvidia shares also traded lower.
Taking Chips Off the Table After Massive Gains
Perspective is critical here. MU shares have skyrocketed approximately 262% during 2026 and surged around 754% over the trailing twelve months. The stock began this week trading at premium valuations reflecting extremely optimistic expectations.
Traders on Polymarket placed the probability of Thursday’s decline at 98.5% before market open. The writing was on the wall.
Insider activity also merits attention. CEO Mehrotra offloaded $32.7 million in shares on June 26 through a pre-arranged 10b5-1 trading plan, executed near the stock’s 52-week peak. While systematic and compliant, such transactions draw scrutiny at elevated price levels.
The Numbers Behind the Noise
Micron’s fiscal Q3 2026 financial results, unveiled June 24, demonstrated impressive strength. The company posted revenue of $41.46 billion, representing a 345.7% year-over-year surge and exceeding consensus by 17.6%. Non-GAAP earnings per share reached $25.11 against analyst expectations of $20.28 — 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 earnings call, Mehrotra disclosed that Micron has executed 16 Strategic Customer Agreements representing approximately 25% of total revenue. These arrangements are expected to generate roughly $100 billion in cumulative floor-price revenue across 14 of these contracts.
Additionally, the company maintains $22 billion in customer cash deposits and letters of credit backing take-or-pay obligations. HBM4 product shipments have already exceeded $1 billion, scaling up at twice the rate of HBM3E 12-high technology.
The $250 million Trump Accounts commitment has no direct impact on Micron’s financial performance. The real story lies in the transition to long-term contractual arrangements and accelerating HBM adoption — both narratives remain firmly in place.
MU was most recently changing hands around $1,007, down 2.64% for the session.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
