Micron Dips Into Bear Territory After 666% AI Memory Rally

Micron Technology’s stock slid into bear market territory, down about 23% from its mid‑March peak after a blockbuster quarter and a roughly 666% surge from the April 2025 low. The pullback reflects sell‑the‑news dynamics and new concerns about AI memory demand amid TurboQuant developments and Micron’s large multiyear capex plans, which could pressure future free cash flow and raise overcapacity risk. Valuation looks modest on the forward line (about 6x) versus a trailing P/E near 17x, but momentum has deteriorated (RSI ~34) as MU traded around $328.50 when published, leaving room for either further consolidation or a potential rebound if AI‑memory demand proves durable.