Micron Shares Plunge as Spending Forecast Rattles Investors

A single statement from the finance chief of Micron Technology triggered a dramatic sell-off, sending the company’s stock tumbling and casting a shadow over its near-term profit outlook. This occurred against a backdrop of fundamentally strong business conditions, where order books are filled through 2026 and demand for its technology is soaring.

The catalyst for the sharp decline was commentary from Chief Financial Officer Mark Murphy at the Global Technology Conference. He delivered a message that the market found difficult to digest: the company’s existing capital expenditure plans, set at $18 billion annually, are no longer sufficient. To fulfill long-term supply agreements and address persistent market shortages beyond 2026, Micron will need Read more...