Micron Slides Amid Sector-Wide Pressure, But Apple CEO's Comments Offer Hope

Shares of Micron Technology (MU) dropped nearly 4% during premarket hours on Thursday, falling to $861.43.

The decline followed a sector-wide sell-off triggered by Western Digital's weaker-than-expected guidance and SanDisk's mixed quarterly results.

However, Apple CEO Tim Cook's comments that memory expenses will 'even higher' this quarter could be a bullish signal for Micron, one of the dominant suppliers of DRAM and high-bandwidth memory.

The company's upcoming earnings announcement on September 22 is expected to reveal strong growth, with consensus estimates projecting earnings of $31.24 per share and revenue reaching $50.72 billion.