Micron Is Down 19% From Its High. History Suggests a $5,000 Investment Today Could Be Worth This Much by 2030.
Micron reached its all-time high back in June, but has been stuck in a downward spiral ever since.
Overview
As of this writing (Sept. 8), shares of Micron Technology (NASDAQ: MU) trade around $1,017. This represents a 19% drop from their peak back in June. A drawdown of this magnitude should not be unexpected after a stock has a vertical year of the type that Micron just experienced.
Even with that hefty selling, smart investors know that Micron's story isn't broken. The stock simply got out over its skis, then gave back some froth as investors came to recognize that artificial intelligence hardware had become a crowded trade.
Details
The question now is not whether Micron will return to its all-time high. Rather, it's what the company might look like once the world's memory shortage eases and the products in line to be the next drivers of demand -- agentic AI, CPUs, and robotics -- are in production.
Source
Originally published at www.fool.com.