Micron (NASDAQ:MU) has gone from one of Wall Street’s biggest AI winners to one of its weakest performers over the past three weeks. Despite still being up about 200% this year, the AI memory maker has fallen 25% over the past three weeks as investors began questioning whether the current AI memory cycle may be nearing its peak.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
So, what changed? Not one thing, but several. Industry forecasts called for DRAM and NAND prices to continue rising during the third quarter, although at a slower pace than in the previous quarter. Around the same time, Samsung’s quarterly results, while solid, failed to satisfy the market’s elevated expectations, weighing on memory stocks throughout the sector. Investors also had to digest a new antitrust lawsuit accusing Micron, Samsung, and SK hynix of coordinating DRAM supply cuts to inflate prices. Reports that Meta may monetize excess AI computing capacity also revived concerns that hyperscalers could eventually moderate the pace of AI infrastructure spending. It also didn’t help that Micron CEO Sanjay Mehrotra sold more than $70 million worth of shares near the stock’s peak.
