While many large-cap semiconductor stocks are outperforming the broader equities market in 2024, Micron Technology (MU) is trailing its peers by a wide margin. Valued at $96.7 billion by market cap, Micron stock is down 44% from the record highs above $157 set this past June.
Let’s see why the chip stock has pulled back so dramatically, and whether it makes sense to invest in the semiconductor giant at the current valuation.
