Why are Micron, SK Hynix, SanDisk stocks falling on Wednesday?

Impact · against what's priced in

The sell-off in memory stocks is driven by macroeconomic headwinds and conventional DRAM competition, neither of which fundamentally alters the current AI-driven valuation for Micron. The news is largely a noise-driven correction rather than a break in the specific HBM3E demand assumptions the market is currently paying for.

MU−0.20

Challenges what's priced in

The price assumes

Sustained pricing power and margin expansion beyond 2027

While the market isn't paying for long-term pricing power beyond 2027, the CXMT 4F-squared roadmap increases the risk that DRAM oversupply arrives sooner than expected, potentially capping the upside the most bullish analysts see.

What MU's price assumes · Sep 9

• china▲30%
• inflation▲18%
• ai
• semiconductors
• rates
• MU
• 000660.KS
• ddr5