Why Micron Technology Stock Bucked the Market Downtrend on Thursday
MUMicron Technology(MU) The Motley Fool·2024-04-26 02:55

The chipmaker will get a huge influx of cash from the CHIPS Act. Shares of Micron Technology (MU -0.13%) gained ground on Thursday, climbing as much as 1.1%. While this might not seem like much to celebrate, the gains came against the backdrop of a broader market downturn as the Nasdaq Composite lost 0.8% and the S&P 500 shed 0.6% (as of this writing). As of 1:41 p.m. ET, the stock was still up 0.5%. The catalyst that sent the memory and storage chipmaker higher was word that the company would receive as mu ...