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
€205.00
3.570%
With 117 Buy predictions and not a single Sell prediction Micron Technology Inc. is an absolute favorite of our community.
With a target price of 231 € there is a slightly positive potential of 12.68% for Micron Technology Inc. compared to the current price of 205.0 €.
