TLDR
- Micron (MU) dropped 2.1% Thursday, a day after falling 10.6%, despite President Trump praising the company on Truth Social.
- Trump celebrated Micron’s $250 million pledge into Trump Accounts, calling it a “HISTORIC” investment.
- The drop is part of a wider tech selloff, with SanDisk (SNDK) down 10% and Western Digital (WDC) off more than 10%.
- South Korea’s KOSPI fell 7.9%, with SK Hynix down 14.6% and Samsung off 9.1%.
- Despite the dip, MU is still up roughly 262% in 2026, and its Q3 earnings beat expectations across the board.
Micron Technology (MU) is down 2.1% Thursday morning, trading around $1,007, following a brutal 10.6% drop in the prior session — and a glowing Trump endorsement did nothing to stop the slide.
President Trump posted on Truth Social Wednesday calling Micron “one of the HOTTEST anywhere in the World,” celebrating CEO Sanjay Mehrotra’s pledge of $250 million into Trump Accounts. The accounts are tax-advantaged savings vehicles for children under 18. Those born between 2025 and 2028 receive a $1,000 deposit from the Treasury.
Trump followed that up Thursday with another post: “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.”
The market’s response? A shrug and a sell button.
This isn’t a Micron-specific story. The whole memory chip sector is getting hit. SanDisk (SNDK) fell around 10%, Western Digital (WDC) dropped more than 10%, and the iShares Semiconductor ETF (SOXX) is pulling back after a 6.19% weekly gain.
The selloff spread overseas too. South Korea’s KOSPI index closed down 7.9% Thursday. SK Hynix fell 14.6% and Samsung dropped 9.1%. Intel and Nvidia also moved lower.
Profit-Taking After a Monster Run
Context matters here. MU is up roughly 262% in 2026 alone, and up around 754% over the past year. The stock entered this week priced for near-perfection.
Prediction markets on Polymarket had the odds of a down day at 98.5% before Thursday’s open. Traders saw this coming.
There’s also the insider selling angle. CEO Mehrotra sold $32.7 million worth of stock on June 26 under a pre-scheduled 10b5-1 plan, near a 52-week high. It’s programmatic and rule-based, but at these valuations it catches the eye.
What the Fundamentals Actually Say
Micron’s Q3 fiscal 2026 earnings, reported June 24, were strong. Revenue hit $41.46 billion, up 345.7% year over year, beating estimates by 17.6%. Non-GAAP EPS came in at $25.11 versus a $20.28 estimate — the seventh straight beat. GAAP gross margin expanded to 84.6% from 37.7% a year earlier.
Management guided Q4 revenue to $50 billion and EPS to $31.00.
Mehrotra told analysts that Micron has signed 16 Strategic Customer Agreements covering roughly 25% of total revenue. Those deals are projected to reach approximately $100 billion in cumulative floor-price revenue across 14 of them.
The company also holds $22 billion in customer cash deposits and letters of credit against take-or-pay commitments. HBM4 shipments have already crossed $1 billion, ramping twice as fast as HBM3E 12-high.
The $250 million Trump Accounts pledge doesn’t change Micron’s income statement. What matters is the structural shift to multi-year contracts and the HBM ramp — and those stories remain intact.
MU was last trading around $1,007, down 2.64% on the day.
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