Micron's Target Price Cut by Citigroup Amid Weakening DDR5 DRAM Prices

Citigroup has significantly reduced its target price for Micron Technology, citing a noticeable decline in DDR5 DRAM spot prices. According to BlockBeats, the target price was lowered by 17%, from $510 to $425, while maintaining a buy rating and keeping all earnings forecasts unchanged. Micron's stock experienced a 1.5% drop in pre-market trading, with Hyperliquid reporting a 12.5% intraday decline in MU contracts, currently priced at $317. The largest long position on Hyperliquid, associated with Continue Capital, has seen its floating loss increase to $1.25 million, with a return rate of approximately -320%. The position size stands at $5.47 million, with an average price of $390 and a liquidation price of $310.2, leaving a 2.2% margin before liquidation. No stop-loss has been implemented yet.