Micron Technology's Hot Streak Fizzles Despite Trump Praise
President Trump has praised Micron Technology as 'one of the HOTTEST anywhere in the World', calling out its CEO Sanjay Mehrotra for his efforts. The compliment was part of a broader announcement that saw the chipmaker commit $250 million to the Trump Accounts savings initiative and pledge to invest over $250 billion in US manufacturing through 2035.
Despite the praise, Micron's stock fell roughly 10.67% on the same day, which may seem jarring given its impressive performance earlier in the year. Shares had surged approximately 180% by July 1, including a 75% jump in May alone.
The company's commitment to the US is significant, as it plans to generate more than 90,000 jobs through this investment. Micron has also announced a $10 billion investment into its Research Labs over the next decade, targeting AI memory supply challenges.