Why Micron Stock Keeps Going Down
It's been a rough week to own Micron (NASDAQ: MU) stock. Beginning with a powerful earnings report (that strangely failed to wow investors) one week ago, Micron stock has been sliding for six straight sessions.
Shares of the computer memory-maker's most recent trouble began Wednesday, when news broke that (NASDAQ: GOOG) has developed new compression technology that shrinks memory size six times while increasing performance and data recall. Worries that this would reduce demand for Micron's high-bandwidth memory (HBM) chips subtracted 3.4% from Micron's market capitalization yesterday.
The stock is down another 4.2% through 9:50 a.m. ET today.
Source Fool.com
Micron Technology Inc. Stock
€317.50
-0.140%
The stock is one of the favorites of our community with 143 Buy predictions and 1 Sell predictions.
As a result the target price of 387 € shows a positive potential of 21.89% compared to the current price of 317.5 € for Micron Technology Inc..
