Micron's Q2 Earnings Beat Estimates, Yet Stock Falls Amid AI Skepticism and Valuation Concerns

Micron Technology's Q2 earnings beat estimates, with revenue tripling YoY to $23.9 billion and per-share earnings of $12.20, exceeding estimates of $9.31. Despite this, the stock fell due to a combination of factors, including pessimism surrounding AI stocks and concerns about the company's high spending plans on production capacity. The main reason for the pullback was not slowing growth or margin concerns, but rather the 550% share price run-up since last April, making the stock ripe for profit-taking.