Micron Technology, Inc. (NASDAQ:MU) stock fell in Tuesday premarket trading after closing down 5.95% in the previous session, as memory-chip stocks continued to face pressure from fresh supply and capacity concerns tied to rising artificial intelligence demand.



CNBC reported Monday that Seagate Technology Holdings Plc (NASDAQ:STX) stock dropped more than 6% after CEO Dave Mosley said building new factories or adding new machines &#34;would take too long,&#34; raising concerns about the industry's ability to meet surging AI-driven demand.



<h2>Memory And Storage Stocks Extend Selloff</h2>



Memory and storage stocks extended losses in Tuesday’s premarket trading after a sharp selloff in the previous session. Sandisk Corp. (NASDAQ:SNDK) fell 3.00% in premarket trading after closing down 5.30% Monday.



Seagate declined 1.73% in premarket trading following a 6.87% drop in the prior session. Western Digital Corp. (NASDAQ:WDC) slipped 2.27% before the open after falling 4.84% on Monday.



Micron remained in focus after investor Steve Weiss of Short Hills Capital Partners trimmed his position following the stock's recent rally, while maintaining a longer-term bullish stance on the memory-chip maker.



<h2>Micron Earnings &amp; Analyst Outlook</h2>



Looking further out, the next major catalyst for the stock arrives with the June 24, 2026 (estimated) earnings report.



<ul>
<li>EPS Estimate: $19.15 (Up from $1.91 YoY)</li>



<li>Revenue Estimate: $33.51 Billion (Up from $9.30 Billion YoY)</li>



<li>Valuation: P/E of 32.2x (Indicates premium valuation relative to peers)</li>
</ul>



Analyst Consensus &amp; Recent Actions: The stock carries a Buy rating with an average price forecast of $561.88. Recent analyst moves include:



<ul>
<li>DA Davidson: Buy (Maintains forecast to $1000.00) (May 11)</li>



<li>TD Cowen: Buy (Raises forecast to $660.00) (April 28)</li>



<li>DA Davidson: Initiated with Buy (Forecast $1000.00) (April 28)</li>
</ul>



<h2>Micron Price Action</h2>



MU Price Action: Micron Technology shares were down 1.73% at $669.72 during premarket trading on Tuesday, according to Benzinga Pro data.



Photo via Shutterstock

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Micron, Seagate, and Western Digital stocks fell in premarket trading due to concerns over supply and capacity amid rising AI demand. Micron dropped 1.73% after a 5.95% decline, while Seagate and Western Digital also experienced significant losses. Analysts maintain a Buy rating for Micron, with a price forecast of $561.88, despite recent selloffs.

- Micron Technology, Inc. shares fell by 1.73% in premarket trading, continuing a trend after a 5.95% decline in the previous session due to supply concerns linked to rising AI demand.  
- Memory and storage stocks, including Seagate Technology and Western Digital, also reported losses as concerns about meeting AI-driven demand increased, with Seagate’s CEO highlighting challenges in expanding production capacity.  
- Analysts maintain a Buy rating on Micron, with a projected earnings report due on June 24, 2026, anticipating significant growth in earnings per share and revenue year-over-year.

Micron, Seagate, Western Digital Sink On Capacity Crunch Fears