Why MU suddenly dropped?

Micron Technology's stock decline can be attributed to several factors:

1. Market Downtrend: On the day of the decline, the broader market experienced a downturn, with the Nasdaq Composite losing 0.8% and the S&P 500 shedding 0.6%. This overall market sentiment can negatively impact individual stock prices, even if the company's fundamentals remain strong.
2. Netflix Earnings Report: Netflix reported mixed results, providing underwhelming sales guidance for the full year and guiding for growth to decelerate in the second half of the year. This, coupled with the announcement that Netflix would stop disclosing subscriber counts, contributed to market concerns about the business and likely dampened sentiment toward tech stocks.
3. Inflation and Fed Policy: Concerns about ongoing inflation and the potential for slower interest rate cuts in 2024, as suggested by Fed Chair Jerome Powell, can lead to cautiousness in the market and may have influenced Micron's stock price.

In summary, while Micron Technology's stock decline may seem sudden, it is likely a result of broader market factors and investor sentiment influenced by the downturn in the market, Netflix's earnings report, and concerns about inflation and Fed policy.