Micron Technology (MU) Tumbles 5%. Here's Why

Micron Technology, Inc. (NASDAQ:MU) is one of the stocks that bleed heavily.

Micron Technology declined by 4.75 percent on Monday to close at $118.61 apiece as investors unloaded positions amid the lack of fresh catalysts to boost investing appetite.

On July 22, shareholders of Micron Technology, Inc. (NASDAQ:MU) as of July 7 record will expect to receive $0.115 per share of quarterly dividends, after the company posted a robust earnings performance during the last reported period.

In the third quarter of fiscal year 2025, Micron Technology, Inc. (NASDAQ:MU) expanded its net income by 468 percent to $1.885 billion from $332 million in the same period last year.

Revenues increased by 36.5 percent to $9.3 billion from $6.8 billion year-on-year.

“We are on track to deliver record revenue with solid profitability and free cash flow in fiscal 2025, while we make disciplined investments to build on our technology leadership and manufacturing excellence to satisfy growing AI-driven memory demand,” said Chairman, President, and CEO Sanjay Mehrotra.

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Disclosure: None. This article is originally published at Insider Monkey.