LOW GPA first semester Junior Year. chances?

I really screwed first semester in junior year. I am expecting to get around a 3.5 - 3.6 in the first semester. My cumulative before was a 3.7 which is still pretty low. I was hoping to raise it throughout junior year. I was wondering if I still have a decent chance at schools like U of M.

My school curriculum is very rigorous. We have had honor classes since 9th grade. All IB in 11/12 .My extra curricular are solid with lots of community service, clubs, job and other things. For my ACT I am projected to get around a 33-34. For my SAT i am projected to get a 1450+ (out of 1600). Do i have a shot?

Why not?

Of course. I have 5 AP’s and got a 3.6 GPA (3B’s, 4 A’s) don’t worry. lower grades/rigorous courseload>4.0/easy courseload

Colleges are sent end of the year grades not mid-semester or mid-year grades. They get a list of the final grades you have in all your classes.