Micron Plunges 5% Premarket as OpenAI IPO Delay Erodes Earnings Buzz
MU•Micron shares tumbled about 5% in premarket trading after reports that OpenAI may delay its IPO to 2027, erasing post-earnings gains and dragging down Sandisk and other memory peers. An analyst forecasts that constrained high-bandwidth memory supply through at least 2028 underpins pricing power and could fuel further Micron upside.
1. Premarket Selloff and IPO Delay Impact
On Friday premarket, shares of Micron declined roughly 5% after reports suggested OpenAI may postpone its IPO until 2027, erasing gains from its recent better-than-expected quarterly results and dragging down fellow memory stocks including Sandisk, Western Digital, and Seagate.
2. Memory Supply Constraints and Analyst Outlook
Beth Kindig from IO Fund highlighted that constrained high-bandwidth memory, conventional DRAM and NAND flash supply through at least 2028 underpins pricing power for memory makers; she noted Micron added over $1.2 trillion in market cap over the past year and sees room for further upside given persistent shortages and growing AI memory demand.
