Micron slips after Q2 results, higher spending plans

Shares of Micron Technology MU.O fall 4.4% before the bell

Co boosts 2026 capital spending plan by $5 billion to keep up with the rising demand for memory chips used in AI systems

Co aims to spend more than $25 billion this fiscal year and said spending would rise further in 2027 as expansion in manufacturing facilities could result in construction-related expense climbing by more than $10 billion from 2026

Co forecast Q3 revenue of $33.5 billion, plus or minus $750 million, compared with analysts' average estimate of $24.29 billion, according to data compiled by LSEG

On average, 44 analysts rate the stock "buy"; their median PT is $500 - LSEG-compiled data

Up to last close, stock had risen ~62% YTD