Is Micron stock a Buy after crashing below $800?

On Wednesday, November 5, Micron (NASDAQ: MU ) stock extended its 30-day losses by recording a 7% daily plummet, smashing below the $800 psychological level and closing at $795.23. The equity then resumed its drop in the subsequent extended session, falling another 5.05% to $755.05 by press time on Thursday morning. While such a steep collapse might signal a bullish correction is around the quarter, the causes for the drop indicate that buying MU shares remains a risky option. Specifically, Micron stock has been declining through October amidst a relatively decisive narrative shift away from an artificial intelligence ( AI ) ‘boom’ and toward the existence of an AI ‘bubble’, indicating Wall Street is preparing for a broader drop.

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