Micron (MU) Stock Falls Over 10% Despite Trump’s ‘Hottest Company’ Label

TLDR

• Micron (MU) fell an additional 2.1% Thursday after Wednesday’s 10.6% plunge, even as President Trump lauded the chipmaker on Truth Social.
• The President highlighted Micron’s $250 million commitment to Trump Accounts, describing it as “HISTORIC” for American families.
• Broader memory chip weakness drove declines, with SanDisk (SNDK) falling 10% and Western Digital (WDC) losing over 10%.
• International markets felt the pain too: South Korea’s KOSPI tumbled 7.9%, SK Hynix dropped 14.6%, and Samsung declined 9.1%.
• Year-to-date, MU remains elevated approximately 262% in 2026, with Q3 results exceeding analyst projections on all metrics.

Micron Technology (MU) extended its losses Thursday morning, declining another 2.1% to approximately $1,007 per share, after Wednesday’s harsh 10.6% selloff — and even a presidential shoutout couldn’t reverse the momentum.

Micron Technology, Inc., MU

On Wednesday, President Trump took to Truth Social to champion Micron as “one of the HOTTEST anywhere in the World,” applauding CEO Sanjay Mehrotra’s commitment of $250 million toward Trump Accounts. These accounts represent tax-advantaged savings programs designed for Americans under 18, with children born from 2025 through 2028 receiving an initial $1,000 Treasury deposit.

Trump doubled down Thursday morning with another message: “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.”

Wall Street’s reaction? Continued selling pressure.

This downturn extends beyond Micron alone. The entire memory semiconductor segment is experiencing weakness. SanDisk (SNDK) dropped approximately 10%, Western Digital (WDC) shed more than 10%, and the iShares Semiconductor ETF (SOXX) retreated despite posting a 6.19% weekly advance.

International markets reflected similar pressure. South Korea’s KOSPI index finished Thursday’s session down 7.9%. SK Hynix plummeted 14.6% while Samsung lost 9.1%. Intel and Nvidia also registered declines.

Taking Chips Off the Table After Massive Gains

Perspective is crucial. MU has surged approximately 262% during 2026 and climbed roughly 754% over the trailing twelve months. Coming into this week, the stock carried extraordinarily elevated expectations.

Traders on Polymarket placed the probability of Thursday showing red at 98.5% before market open. The consensus anticipated continued weakness.

Insider activity adds another dimension. CEO Mehrotra executed sales totaling $32.7 million on June 26 through a predetermined 10b5-1 trading arrangement, near the 52-week peak. While systematic and compliant, such transactions at current valuations draw attention.

The Underlying Business Performance

Micron’s fiscal Q3 2026 results, released June 24, demonstrated strength. Revenue reached $41.46 billion, representing 345.7% year-over-year growth and surpassing consensus by 17.6%. Non-GAAP earnings per share registered $25.11 against the $20.28 Street estimate — marking the seventh consecutive quarterly beat. GAAP gross margin expanded dramatically to 84.6% from 37.7% in the prior-year period.

The company projected Q4 revenue of $50 billion with EPS targeting $31.00.

During the analyst conference call, Mehrotra disclosed that Micron has executed 16 Strategic Customer Agreements representing approximately 25% of total revenue. Fourteen of these agreements are projected to generate cumulative floor-price revenue approaching $100 billion.

Additionally, Micron holds $22 billion in customer cash deposits plus letters of credit backing take-or-pay obligations. HBM4 shipments have surpassed $1 billion, scaling at double the rate of HBM3E 12-high.

The $250 million Trump Accounts commitment doesn’t alter Micron’s financial performance. The critical factors remain the transition toward long-term contract structures and accelerating HBM adoption — both narratives continue progressing.

MU last changed hands near $1,007, off 2.64% for the session.

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