Micron Falls 1.31% to $881 as Burry Bet and CXMT Threat Weigh
Updated
Updated · Benzinga · Aug 5
Micron Falls 1.31% to $881 as Burry Bet and CXMT Threat Weigh
3 articles · Updated · Benzinga · Aug 5
Summary
$881 premarket trading left Micron down 1.31% on Wednesday, extending pressure after a strong 12-month rally and a June 52-week high.
Michael Burry's bearish stance, profit-taking and concern over CXMT's rising memory output have darkened sentiment, with investors wary that added supply could pressure future pricing.
Technical signals remain mixed: Micron trades 2.3% below its 20-day SMA and 9.1% below its 50-day SMA, though it still sits 67.9% above its 200-day average and its RSI is a neutral 49.02.
Sept. 22 earnings are the next major catalyst, with Wall Street expecting EPS of $31.24 on $50.72 billion in revenue and still holding a Buy consensus with an average target of $1,548.86.