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
€354.60
4.160%
The stock is an absolute favorite of our community with 134 Buy predictions and no Sell predictions.
As a result the target price of 375 € shows a slightly positive potential of 5.75% compared to the current price of 354.6 € for Micron Technology Inc..
