Micron Technology Stock News

Intel's market cap is shriveling as it faces existential challenges. Marvell's AI-oriented chips are driving its near-term growth.

On Tuesday, the Institute for Supply Management released its Manufacturing Purchasing Managers' Index for August, and the results were worse than expected. The contraction in U.S. manufacturing rekindled fears of an economic slowdown or recession.

Micron Technology has seen its share price fluctuate meaningfully in 2024.

The buildout of AI-optimized data centers spells monster returns for Nvidia shareholders. Micron Technology expects strong demand for its memory and storage components to drive record revenue next year.

This semiconductor company's recent sell-off in shares doesn't seem justified, as AI is supercharging its growth. This cloud company is building a robust revenue pipeline, and its focus on adding AI services to its platform could unlock a huge growth opportunity.

Micron Technology is currently unprofitable and sales are down, while the stock trades 39% below recent highs. Despite these challenges, the memory chip giant is poised to benefit from the growing AI market.

Micron Technology (NASDAQ: MU) stock has dropped more than 25% in the last two months after a brisk 50% growth in the first half of the year. This trend largely mirrors movements in stock price for the company's peer in the semiconductor industry Applied Materials (NASDAQ: AMAT) - which first gained 46% in the first six months of the year only to drop almost 20%.

Micron Technology, Inc. (NASDAQ:MU ) Deutsche Bank Technology Conference August 28, 2024 11:45 AM ET Company Participants Sanjay Mehrotra - President & Chief Executive Officer Manish Bhatia - Executive Vice President, Global Operations Conference Call Participants Ross Seymore - Deutsche Bank Melissa Weathers - Deutsche Bank Ross Seymore Good morning, everybody, and welcome to the first corpora...