Micron Stock Falls as Investors Question How Long the AI Chip Boom Lasts

Micron, a major chip manufacturer, dropped 20% from its June high but remains far ahead for the year. The stock surged to a $1 trillion valuation on bets that AI-driven demand for specialized memory chips would keep rising. The recent decline signals traders now think that demand may peak around 2026. The shift from 'this will never stop' to 'maybe it slows down' is reshaping what investors think the company is worth.