Micron Technology shares fell about 7% in pre-market trading Thursday. The decline occurred amid a broader semiconductor sector downturn.
A research note from Raymond James analyst Karl Ackerman spurred the drop. Ackerman predicted average selling prices for DRAM and NAND memory chips could peak in mid-2026.
The forecast raised investor concerns about the longevity of the current memory chip boom-and-bust cycle. Surging demand from the artificial intelligence sector has driven this cycle.
Ackerman suggested prices could top out sooner. Many other analysts had expected a mid-2027 timeframe.
Micron's stock weakness coincided with a wider tech sell-off. This sell-off followed a disappointing outlook from fellow chipmaker Broadcom.