Why Micron Stock Just Crashed

Micron stock fell 7.7% after Samsung reported strong Q2 earnings with 28% sequential sales growth and a 19-fold surge in operating profit. Despite beating expectations, Samsung's stock sold off due to a 'buy the rumor, sell the news' phenomenon. The real concern for Micron investors is Samsung's announcement of building massive new semiconductor fabrication plants to increase market share in memory chips, potentially closing the supply-demand gap and pressuring Micron's profitability.