Why Micron Stock Is Down 13% This Week
Shares of Micron Technology (NASDAQ: MU) have declined by 13% so far this week as of noon EDT on Friday as investors continue to fret about the global semiconductor shortage that has disrupted a broad swath of industries in 2021. Adding to the pessimistic investor sentiment, Wall Street analysts are also souring on Micron stock.
On Tuesday, Susquehanna released a report detailing extended timelines for semiconductor companies to fill orders, with the average order-filling time now reaching 20.2 weeks. That's the highest level in four years. The industry is still reeling from the pandemic.
Image source: Micron.
Source Fool.com
