MU Stock Plunges as Micron Fails to Live Up to AI Hype
MUMicron Technology(MU) Investor Place·2024-06-27 21:24

Despite beating analyst estimates on earnings and revenue, shares of memory chip maker Micron Technology (NASDAQ:MU) stock fell about 5% overnight. Analysts blamed the company’s revenue forecast. Micron was due to open this morning at 134.40pershare,amarketcapitalizationofabout134.40 per share, a market capitalization of about 149 billion. Shares are still up over 50% in 2024. AI Over Its Skis? The company guidance was in line with estimates. But bulls who have doubled the stock price in the last year wanted more. Net income for the quarter ending ...