Micron Technology (MU) Falls Hard on Crucial Business Exit

We recently published 10 Stocks Losing Their Fire. Micron Technology Inc. (NASDAQ:MU) is one of the worst performers on Thursday.

Micron Technology dropped for a third straight session on Thursday, shedding 3.21 percent to close at $226.65 apiece, as investors digested plans to officially drop its consumer memory brand, Crucial, after 29 years in business.

In a statement during the day, Micron Technology Inc. (NASDAQ:MU) said that the divestment was in line with plans to shift its focus to the faster-growing enterprise and commercial segments amid the rapidly expanding artificial intelligence industry.

In line with the decision, shipments for all Crucial-branded consumer products would only be available until the end of February 2026. However, Micron Technology Inc. (NASDAQ:MU) assured its customers that it would continue providing warranty services and support to the brand’s customers.

“The AI-driven growth in the data center has led to a surge in demand for memory and storage. Micron has made the difficult decision to exit the Crucial consumer business in order to improve supply and support for our larger, strategic customers in faster-growing segments,” said Micron Technology Inc. (NASDAQ:MU) Chief Business Officer Sumit Sadana.

In other developments, the stock earned a higher price target of $270 from Mizuho Securities, versus $265 previously, while maintaining an “outperform” rating.

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