Micron Stock Has Lost Over 40% Since Its June Record. I'd Still Buy It.

The Motley Fool · Daniel Sparks · 2026-11-06 05:53 UTC

After two more steep drops, is the memory maker's stock now priced for its profits to collapse?

Shares of memory chipmaker Micron Technology (MU -17.46%) dropped 7% on Nov. 4, ending at $795.23, and kept falling on Nov. 5. At around $690 as I write, the stock sits over 40% under the $1,213.56 it finished at on June 25, its all-time closing high.

Stocks linked to artificial intelligence data centers slid broadly on Nov. 4 after Democrats' midterm election wins, as traders prepared for a slower build-out, according to CNBC.

When I called Micron stock a buy last week, shares had just ended at $884.74. They've since fallen over 20%. But Micron's latest outlook, issued with its results on Sept. 30, hasn't changed. That means investors can now buy the same expected earnings for less.

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