Micron Technology Inc (NASDAQ: MU) shares have been struggling to catch their breath after a sharp 25% drop over the past week. The selloff followed a tough earnings report and broader market jitters as the Fed dampened expectations for a rate cut. Stocks, in general, have had a rough end to the year, but Micron's drop stands out. The stock is now trading near a solid line of support, back at levels not seen since early 2021. For those of us on the sidelines, it's tempting to see this as a golden entry opportunity. But before jumping in, let's take a closer look at where Micron stands today.
With a $95 billion market cap, it's a key player in memory and storage solutions—both of which are critical for AI's ongoing development. And while the stock looks far removed from its June highs, there are several reasons investors should be getting excited.
