Why Micron Stock Sank Today
(NASDAQ: MU) stock got hit with big sell-offs in Tuesday's trading. The memory chip specialist's share price ended the daily session down 4.2%. Meanwhile, the S 500 index fell 0.3%, and the Nasdaq Composite fell 0.1%.
Micron's valuation is slipping today in conjunction with a new report published by Edgewater Research. Edgewater thinks that the demand outlook for Micron's NAND and DRAM chips will be weaker than previously anticipated, and investors are responding to the analysis by moving out of the stock.
Edgewater's recent research note brought bearish analysis for Micron on two separate but related fronts. For starters, the analysis suggests that demand for NAND memory solutions is weakening among original equipment manufacturers and cloud service providers. demand for NAND solutions among data center customers is expected to come in somewhere between flat and a slight increase next year.
Source Fool.com
Micron Technology Inc. Stock
The stock is an absolute favorite of our community with 117 Buy predictions and no Sell predictions.
As a result the target price of 231 € shows a slightly positive potential of 16.7% compared to the current price of 197.94 € for Micron Technology Inc..
