Why Micron Stock Was Moving Higher Today
Shares of Micron (NASDAQ: MU), the U.S.-based memory chipmaker, were moving higher today in sympathy with SK Hynix, the world's largest memory chip company, which hit an all-time high today after it announced the world's first HBM4 product.
Though SK Hynix is a competitor to Micron, the news was seen as a positive for the broader memory-chip industry, as it should spark more demand for HBM. It also comes during a week when artificial intelligence (AI) stocks have been flying higher after gave blowout guidance for cloud infrastructure growth earlier this year.
Micron stock closed up 4.6% on the news.
Source Fool.com
Micron Technology Inc. Stock
€760.90
-0.590%
The stock is one of the favorites of our community with 160 Buy predictions and 1 Sell predictions.
As a result the target price of 1293 € shows a very positive potential of 69.93% compared to the current price of 760.9 € for Micron Technology Inc..
