Micron stock drop on June 4 sent shares down 7.74%, closing at $996.00 after shedding $83.57 in a single session. The MU stock drop today was not caused by anything Micron did specifically. Broadcom’s earnings report, where strong numbers were overshadowed by a flat AI revenue forecast, set off profit-taking across the whole chip sector. Micron, right now sitting on a 271% year-to-date gain, was an obvious target. So is the Micron stock price pullback actually a buying opportunity, or a sign of more trouble ahead?

MU Stock Drop Today, Micron Stock Price Volatility and Buy Signal Outlook

What Triggered the Micron Stock Drop

The selloff started as a Broadcom problem and spread fast. Broadcom reported fiscal Q2 revenue of $22.19 billion, up 48% year over year, and also issued Q3 guidance of $29.4 billion. CEO Hock Tan declined to raise the company’s full-year AI semiconductor revenue target of $100 billion, though, and investors who had been expecting a guidance increase got nothing. A wave of selling moved through the semiconductor space almost immediately after.

Broadcom CEO Hock Tan stated:

“The momentum continues and in Q3 we expect semiconductor revenue from AI to grow over 200 percent year-over-year to $16.0 billion.”

Strong as those numbers were, they fell below whisper expectations for hyperscaler AI orders, and that gap is what traders ended up punishing. Micron stock drop followed within hours as selling swept through the memory space. Concerns around the cyclical nature of the memory industry and rising competition from Chinese manufacturers also added pressure on MU stock drop today.

Also Read: How Much a $500 Investment in Micron Stock One Year Ago Is Worth Now

Why the Micron Stock Forecast Stays Bullish

Wall Street’s read on Micron stock forecast has not really shifted after the selloff. Morgan Stanley raised its price target on MU to $1,050 from $520 and kept an Overweight rating, noting there is “no quick fix to the memory shortage.” Raymond James set a target of $1,100 and maintained its Outperform rating as well.

At the time of writing, MU trades at a forward P/E of just 11.50, well below the sector average of 26.69, and also lower than AMD at 57.24, Broadcom at 31.56, and Nvidia at 23.75. HBM3E and HBM4 supply for calendar year 2026 has already sold out, and a significant portion of 2027 production is locked in through long-term customer agreements. Micron stock price, even after the drop, reflects a business with a real structural advantage in AI memory.

Is Micron Stock Still a Buy After the Selloff?

The Micron stock drop looks more like a sector-wide reset than a fundamental crack. The memory shortage that drove the rally remains very much in place, and the Micron stock still a buy consensus from major Wall Street firms has not changed. Average analyst price target right now sits at $745.29, with a high of $1,750.00 from Susquehanna and a low of $190.00. Whether MU stock drop today marks a floor will likely become clearer on June 23, 2026, when Micron reports next. Consensus estimates sit at around $34.83 billion in Q3 revenue and adjusted EPS of $19.83, and if those land, the Micron stock price case for further upside gets a lot harder to argue against.