TradingKey – After experiencing a significant rally for nearly a year, Micron Technology ( MU )’s stock price has recently entered a high-level correction phase.

As of July 28, Micron’s stock price closed at $820, falling back about 30% from its historic high set in late June.

Notably, Micron’s latest earnings report did not reflect a significant cooling in AI demand. On the contrary, the company’s HBM products continued to ramp up, its data center business maintained rapid growth, and both its financial results and future guidance exceeded market expectations.

What has truly made investors cautious is that the stock price had already priced in the high growth expectations brought by AI. As competition intensifies and capital expenditures…