Why Micron Stock Dropped Today
Shares of Micron Technology (NASDAQ: MU) were down on Thursday following the release of quarterly results that were poorly received by Wall Street analysts. As always with this company, it seems investors are less focused on business results now and more focused on future uncertainties in the semiconductor space. As of 11:30 a.m. EDT today, Micron stock was down more than 5%
For the fiscal third quarter of 2021, Micron's revenue was up 36% year over year to $7.4 billion. This was also up 19% just since last quarter. Moreover, the company's quarterly net income more than doubled from last year to $1.7 billion.
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Source Fool.com
