How Low Can Micron Technology Stock Go?

How Low Can Micron Technology Stock Go?

The market has been sniffing out a cyclical downturn for the semiconductor industry for a while now, and memory-chip maker Micron Technology (NASDAQ: MU) is finally confirming that it's here. Micron did report record annual revenue for its recently completed 2022 fiscal year ($30.8 billion, an 11% increase from 2021), but the final quarter of the year (ended Sept. 1) was a dud. Ahead of this tumble in sales, Micron's stock price tanked 44% so far in 2022.