Micron Falls 20% Ahead of June 24 Earnings as Analysts Warn Against Bottom-Fishing

According to The Motley Fool, Micron Technology's stock has tumbled 20% from its peak despite strong AI-driven business growth, prompting analysts to caution investors against rushing into the position before the company's June 24 earnings report. In its fiscal second quarter ended February 2026, Micron posted $23.8 billion in revenue, a 196% year-over-year surge driven by robust demand for high-bandwidth memory (HBM) used in AI accelerators.

Wall Street expects Micron's third-quarter revenue to reach $33.5 billion, up 260% year-over-year, with earnings per share forecast at $18.90, representing a 1,025% annual increase. However, analysts highlight two significant risks: memory prices could normalize as global supply expands, pressuring future profitability; and AI hardware demand may be nearing peak levels, evidenced by Broadcom's recent AI semiconductor guidance miss and rising cost concerns from major enterprise users including Google and Uber.