Why Micron Technology Stock Is Sinking Today
Shares of Micron Technology (NASDAQ: MU) were slipping Thursday. The firm's stock is down 2.9% as of 1:25 p.m. ET, but lost as much as 5.4% earlier in the day. The move down comes as the S 500 (SNPINDEX: ^GSPC) gained 0.3% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 0.1%.
Despite news of a new artificial intelligence (AI) initiative from the Trump administration, Micron shares were hurt by its rivals' recent earnings report.
Micron is a semiconductor firm specializing in memory, supplying Nvidia with the high-bandwidth memory (HBM) components necessary to build Nvidia's AI-powering Superchips. The relationship is not exclusive, however. Among Micron's rival Nvidia suppliers is SK Hynix.
Source Fool.com
Micron Technology Inc. Stock
€307.45
-0.980%
The stock is an absolute favorite of our community with 130 Buy predictions and no Sell predictions.
As a result the target price of 337 € shows a slightly positive potential of 9.61% compared to the current price of 307.45 € for Micron Technology Inc..
