Micron stock extends decline despite Trump's praise and bullish analyst views

Micron Technology MU shares extended their recent decline on Thursday, falling 4% after tumbling 10% in the previous session, as broader weakness across technology stocks continued to weigh on semiconductor names.

The latest decline came despite public praise from President Donald Trump and a bullish outlook from Mizuho Securities, highlighting how investors remained focused on the broader selloff in high-growth technology stocks.

Micron shares have still posted exceptional gains this year, rising 219% in 2026 despite the recent pullback.

Tech selloff overshadows Trump's endorsement

Earlier this week, Micron announced a $250 million investment in Trump Accounts, tax-advantaged savings accounts for children under the age of 18.

Under the program, children born between 2025 and 2028 will receive a $1,000 deposit from the US Treasury Department.

Following the announcement, President Donald Trump praised the company in a post on Truth Social.

"Micron, a truly GREAT American Company, and one of the 'HOTTEST' anywhere in the World, has announced a HISTORIC $250 MILLION Investment in TRUMP ACCOUNTS," Trump wrote.

Despite the endorsement, Micron shares continued to decline as investors rotated out of semiconductor stocks.

The weakness was part of a broader technology selloff that has affected many of the year's strongest performers.

Global semiconductor weakness pressures memory stocks

The pressure on Micron coincided with a sharp decline in South Korea's stock market, where technology shares led losses.

South Korea's KOSPI index dropped 7.9% on Thursday as the technology selloff spread beyond US markets.

Major memory chip manufacturers SK Hynix and Samsung Electronics, two of Micron's largest competitors, declined 14.6% and 9.1%, respectively.

Although the selloff has been significant, both Micron and the broader South Korean market have delivered strong gains this year.

The KOSPI remains up 81% in 2026, compared with a 9.3% gain for the S&P 500 over the same period.

Mizuho maintains bullish long-term outlook

Despite the recent volatility, Mizuho Securities continues to view Micron as its preferred investment among leading semiconductor companies.

Mizuho Securities put out its top picks for July on Thursday which featured Robinhood and Oracle.

Analyst Vijay Rakesh maintained an Outperform rating on the stock with a price target of $1,375.

According to Mizuho, Micron delivered its strongest quarterly stock performance on record during the second quarter, with shares gaining 242%, even though the stock declined following its third-quarter earnings report.

Rakesh said demand for memory products is expected to remain strong through 2027, supported by continued investment in artificial intelligence infrastructure.

"We see MU and other key memory suppliers all seeing strong near-term tailwinds, driven mostly by AI demand," Rakesh wrote.

He also said Micron is expected to remain a "key winner" in the memory semiconductor industry.

The recent pullback underscores the volatility surrounding semiconductor stocks after a powerful rally earlier this year.

While investors have taken profits across the technology sector, analysts continue to point to long-term demand for AI-related memory products as a supportive factor for Micron's business outlook.