Micron Technology shares tumbled 8.02% to $666.54 despite confirming its entire high-bandwidth memory inventory for 2026 is already sold out. The decline follows a historic rally, with analysts now warning of extreme exhaustion in AI-heavy semiconductor stocks.
- Deutsche Bank raised its price target to $1,000, citing structural supply shortages despite the current market pullback.
- Investor sentiment was pressured by concerns over elevated capital expenditure forecasts for 2027 and surging Treasury yields.
- Technical analysts suggest the sharp drop reflects a broader sector-wide cooling as investors weigh long-term spending against immediate demand.