Micron Technology took a heavy hit, with shares plunging 15% in premarket trading on Thursday after the company issued a grim forecast. The surge in sales of AI-related chips was overshadowed by weak demand for PCs and smartphones, causing concern among investors. While Micron sees only modest smartphone growth in 2025, global PC shipments dropped another 1.3% in Q3, according to Gartner. On the brighter side, revenue from high-bandwidth memory (HBM) chips—crucial for AI systems—more than doubled sequentially, highlighting an opportunity in data center investments expected to grow in 2025. Despite a 22% rise in Micron’s stock this year driven by AI chip demand, analysts remain cautious. At least six brokerages slashed their price targets post-earnings, reflecting tempered expectations.