With Memory chips (DRAM) down 4.0%, this looks like a sector-led move rather than a company-specific surprise.
Memory chip stocks, including Micron and SK Hynix, fell over 4% in pre-market trading due to a broader tech sector sell-off. The decline is primarily attributed to macroeconomic pressures, including elevated US inflation data which has pushed Treasury yields higher. This has prompted institutional investors to take profits in high-beta, cyclical sectors like memory chips amid a general deleveraging from high-valuation technology stocks. While a minor strike at a Micron facility in Taiwan was also reported, it is not seen as the primary driver of the significant move.