Micron Technology Stock News

Artificial Intelligence (AI) is everywhere, transforming industries left and right. Indeed, as AI advances into new realms and revolutionizes industries, it's clear why placing bets on promising AI stocks could be a game-changer.

Micron Technology (NASDAQ: MU ) specializes in manufacturing chips, flash memory and solid-state drives. Because they're distracted by international politics, sometimes people forget what Micron does and how innovative the company really is.

It's hard for retail investors to get picks right. Most investors are limited to limited information that's already priced in.

Chipmaker Micron Technology (MU) was not spared from the tech sector rotation. The shares hit a record high of $157.53 on June 18, but have since taken a 30% haircut.

Seven months into 2024, it has still been a good year for the stock market, but the sands shifted under investors' feet during July, as a “Great Rotation” began.

The market rotation out of AI winners (mostly chip stocks) has gotten extreme in recent days. This change in investor sentiment comes after a period of significant outperformance by these companies, including the best chip stocks like Nvidia (NASDAQ: NVDA ), AMD (NASDAQ: AMD ), Broadcom (NASDAQ: AVGO ) and Micron Technology (NASDAQ: MU ), particularly over the past 12 to 18 months.

SK Hynix is the current leader in HBM memory for AI. But Micron is gaining fast.

Semiconductors are the lifeline of the modern digital age. They help our smartphones, laptops and cars to function properly.