Micron slumps as bleak quarterly forecast clouds AI-related boost

Micron Technology shares plummeted 15% in premarket trading on Thursday following a dismal forecast that signaled a squeeze from weak demand for personal computers and smartphones, overshadowing a solid lift from sales of AI-related chips. The market for dynamic random-access memory (DRAM) chips, the company’s biggest revenue generator, has remained under pressure since the end of the pandemic amid a lingering supply glut.