Micron Stock Faces Reality Check as Top Investor Downgrades MU

Micron shares fell about 23% after a strong fiscal Q2, as Noah’s Arc Capital Management downgrades MU from Strong Buy to Hold, arguing that AI-driven DRAM demand may be priced in and the memory cycle could be peaking. Still, the broader Street remains bullish with a Strong Buy consensus and an average target around $536.55 (~50% upside), highlighting a divide between near-term sentiment and longer-term fundamentals in MU’s AI memory cycle.