Micron Shares Plunge 7.7% as Broadcom Cuts Q3 AI Chip Forecast to $16 B
MU•MU•MU•MU•Micron shares dropped 7.7% after Broadcom cut its Q3 AI chip revenue forecast to $16 billion, missing the $17.2 billion estimate and maintaining its FY27 outlook at $100 billion. Retail investors responded by buying the dip, signaling bullish sentiment despite the stock’s additional 5% overnight slide.
Broadcom projected $16 billion in AI chip revenue for Q3, below the $17.2 billion Wall Street estimate, while holding its full-year 2027 revenue outlook at $100 billion.
Micron shares fell 7.7% during regular trading—their steepest drop in over a month—and extended losses with an additional 5% decline in the overnight session.
The iShares Semiconductor ETF slipped 2% and the QQQ index fell 0.5%, with SanDisk down 4% and Western Digital off 3% in regular trading as memory stocks came under pressure.
Retail traders shifted to a bullish stance on Micron, increasing positions in the stock and viewing the pullback as a buying opportunity despite the sector’s broader softness.
