Shares of memory chip giant Micron (Micron) plummeted by 28.7% in July. Analysts attribute this primarily to widespread concerns about overvaluation in AI hardware stocks, negative market reactions to Samsung's capital expenditure guidance, and worries that competition from Chinese companies could harm pricing power. Furthermore, SK Hynix's second-quarter earnings missing analyst expectations exacerbated market concerns regarding Micron's outlook. Macroeconomic and geopolitical dynamics, such as rising oil prices and inflation concerns due to escalating conflict in Iran, also put pressure on the stock price. As of now, Micron's stock has fallen by approximately 6.6% in August.