Omor Ibne Ehsan
4 min read
Quick Read
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Trump praised Micron (MU) on Truth Social, but after an 838% run the stock still dropped 10%, proving that presidential endorsements can’t manufacture new buyers.
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SanDisk (SNDK) dropped 10% and Western Digital (WDC) fell over 10% alongside Micron, confirming sector-wide profit-taking rather than a company-specific selloff.
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Micron’s 16 Strategic Customer Agreements project roughly $100 billion in floor-price revenue, with $22 billion already held in customer cash deposits.
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Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn’t make the cut. Grab the names FREE today.
As MU stock was falling, President Trump posted on Truth Social calling Micron Technology (NASDAQ:MU) “one of the HOTTEST anywhere in the World” and celebrating a “HISTORIC $250 MILLION Investment in TRUMP ACCOUNTS” pledged by CEO Sanjay Mehrotra, tied to America’s 250th anniversary. He signed off with “THIS IS THE GOLDEN AGE OF AMERICA!”
However, the stock went down down 10.67% on the day.
That is a rare thing in markets. A sitting president singling out one company for a shower of praise usually moves the stock, at least for an afternoon. On Wednesday, it moved nothing.
Why a presidential endorsement moved the stock zero
Micron came into today priced for something close to perfection. The stock is up 754% over the past year and 227% year to date, with a market cap sitting around $1.17 trillion. When a stock has already tripled in six months, the marginal buyer needs a reason bigger than a Truth Social post to chase it higher.
The Q3 fiscal 2026 earnings report on June 24 was that reason, and it already ran. Revenue landed at $41.456 billion, up 345.72% year over year, beating consensus by 17.60%. Non-GAAP EPS came in at $25.11 against a $20.28 estimate, the seventh consecutive beat. GAAP gross margin jumped to 84.6% from 37.7% a year earlier. Management guided Q4 to $50 billion in revenue and $31.00 in EPS.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn’t make the cut. Grab the names FREE today.
You can read the press release exhibit filed with the SEC for the full breakdown. Investors bought the news the hour it hit and have been trimming ever since.
What is actually driving Micron down today
Memory chips are getting sold across the board. SanDisk (NASDAQ:SNDK) fell 9.91%, Western Digital (NASDAQ:WDC) dropped more than 10%, and other AI-adjacent names are lower. The semiconductor ETF iShares Semiconductor ETF (NASDAQ:SOXX) is coming off a 6.19% weekly gain, and today looks like the profit-taking day that inevitably follows a vertical move.
