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Published January 30, 2025
Micron Technology’s financial projections short-circuited after it slashed financial projections for 2025. Investors were stunned, since Micron previously guided to a profitable year. Shareholders rapidly sold off their stock, causing Micron’s stock price plunging 16%. Some of those shareholders are taking legal action to recover their losses.
The microchip and computer memory industry suffered weak demand through 2022 and 2023. But throughout 2024, Micron claimed it made a comeback, especially in its NAND sector. The Company said it was in a position to “deliver a substantial revenue record” in 2025.
But in December 2024, the Company shocked analysts and investors by claiming its NAND sector suffered a major slowdown. It also slashed its 2025 guidance. Analysts responded negatively, cutting their targets for Micron and downgrading their ratings of the stock.
Investors quickly dumped their shares, causing Micron’s stock to plummet. Some of those investors are now joining the lawsuit.