Micron Shares Slip 3.3% Following Broadcom's Below-Estimate $16B AI Chip Forecast
MU•Micron shares dropped 3.3% in premarket trading Friday, leading a second day slump in semiconductor stocks after Broadcom projected $16 billion in Q3 AI chip revenue, missing $17.2 billion estimates. Retail sentiment for Micron remained neutral even as semiconductor ETF sentiment plunged into extreme bearishness.
1. Broadcom Results Trigger Semiconductor Selloff
Broadcom projected $16 billion in Q3 AI chip revenue versus $17.2 billion consensus and maintained its $100 billion fiscal 2027 outlook, sparking a sector-wide profit taking and marking its steepest decline since January 2025.
2. Micron Leads Market Declines
Micron shares fell 3.3% in premarket trading Friday, the largest drop among major chipmakers, as Intel and AMD each slid 2.8% and Nvidia eased 1.4%, signaling a broad reset in valuation after recent gains.
3. Retail Sentiment Remains Neutral for Micron
Retail traders maintained neutral sentiment on Micron shares while sentiment toward the semiconductor ETF plunged into extreme bearish territory, highlighting cautious positioning among small investors despite broader sector pessimism.
