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00:02Micron shares fell for a second straight session after the AI memory trade reversed,
00:08following a sharp rally that sent the stock from $300 in late March
00:11to a record $818.67 on May 11th.
00:16Shares dropped 6.6% Friday and another 6% Monday,
00:21marking Micron's worst two-day decline since April 2025.
00:26The semiconductor sell-off accelerated after reports said,
00:30no AI chip deals were finalized during the Trump-Xi summit in Beijing,
00:34and that Alibaba and ByteDance could not secure approval to complete NVIDIA H200 purchases.
00:40Technical indicators cooled after Micron traded 170% above its 200-day moving average last week.
00:48Citi raised its price target to $840 from $425 and maintained buy.
00:55Malia's research raised its target to $1,100 from $700
00:59and said AI-driven supply bottlenecks could continue supporting memory chip demand.
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01:08Next step.
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