Tech stocks crashed but Micron's profits are soaring — buy the dip on Wall Street's next Nvidia
The entire tech sector just sold off, dragging down AI chip memory maker Micron—even though Micron just reported it is about to become one of the most profitable companies in the country. With peace talks easing global fears and futures climbing, the market panic looks overdone and sets up a major rebound for this misunderstood stock.
Idea
Micron got caught in a brutal market-wide tech sell-off, finishing the week in the red even though its fundamental story has actually improved. The underlying demand for AI memory is so explosive that Micron is projected to be more profitable than almost any other U.S. company outside of Nvidia and Google. With broader US stock futures now climbing as peace talks resume, the panic that dragged Micron down appears to be a temporary market reaction rather than a fundamental problem. This creates a perfect catch-up opportunity where the stock is fundamentally undervalued compared to its actual earning power.
What happened since
| Symbol | Dir | T+1 | T+5 | T+20 |
|---|---|---|---|---|
| NVDA | LONG | +2.63% ✓ | -0.07% ✗ | — |
Price change since publication · updated Jul 12
Key details
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News sources
- Stock Market Today: Nasdaq Slides Amid Global Technology Sell-Off; Micron, Nvidia, Sandisk Fall (Live Coverage) — Investor's Business Daily
- US Futures Climb on Reports Peace Talks to Resume: Markets Wrap — Bloomberg
- Micron is about to be more profitable than any U.S. company except Nvidia and Google — MarketWatch
- The AI trade cooled and oil sank. A closer look at Wall Street's volatile week — CNBC