Micron Drops 1.4% on Chip Selloff, UBS Maintains Buy at $1,625 Target

According to Barron's, Micron Technology's stock fell 1.4% to $935.89 on Tuesday (June 9) amid a broader chip sector selloff, with shares sliding as much as 4% intraday. Despite the pullback, the semiconductor manufacturer has surged 216% year-to-date, driven by robust artificial intelligence-related memory demand.

UBS analyst Nicolas Gaudois maintained a buy rating on Micron with a $1,625 price target on Monday, calling recent memory stock weakness a "buying opportunity." Gaudois noted that industry surveys show demand has further upside potential rather than downside risk, with momentum likely sustained by on-device AI adoption.