The Micron chart flashes an ugly sign

The Micron chart is flashing a bearish topping signal as Micro shares fall $400 over the past three weeks to the lowest level since May 26. The stock is down 32% after initially surging on the company’s most recent quarterly earnings report. In that report, Micro forecast earnings of $31 per share for the coming quarter, implying $124 annualized and about 7x earnings, while the consensus for this year cited is $73.37. For next year, the consensus of $157 suggests forward earnings of just 5.4x. Technically, a head-and-shoulders measured target points to around $500, while the area implies roughly 3x earnings. The article links the selloff to tight alignment between technicals and fundamentals, with AI memory-use breakthroughs raised as the key risk; it notes murmurs from Meta are not indicating spending pullbacks.