{ }
Symbol MU
Name Micron Technology, Inc.
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State ID
City Boise
Zipcode 83716-9632
Website http://www.micron.com
US stocks declined as investors reacted to new economic data, with the S&P 500 falling 0.7%, the Nasdaq down 1.4%, and the Dow Jones dropping 0.1%. The manufacturing sector showed continued expansion, but rising prices raised concerns for the Fed's inflation fight. Nvidia shares fell 5% after a record high, despite other chip stocks gaining.
US stocks saw a decline today, with the S&P 500 falling about 0.4% and the Nasdaq Composite down roughly 1.1%, as investors reacted to new economic data and adjusted rate cut expectations. The manufacturing sector showed continued expansion, but rising prices raised concerns for the Federal Reserve regarding persistent inflation. Nvidia shares dropped around 5% after a record-high close, despite other chip stocks like Micron Technology gaining ground.
Indexes rose Thursday, driven by a rally in chip stocks, particularly Nvidia, which gained 3% after CEO Jensen Huang unveiled new AI products at CES. Micron Technology also saw a 6% increase as it partners with Nvidia on AI-powered gaming chips. Investors are awaiting key economic data later this week, including job reports.
US stocks showed modest gains on Tuesday, with the S&P 500 and Dow Jones Industrial Average each rising 0.3%, while the Nasdaq added 0.2%. Nvidia's CEO unveiled a new AI superchip, boosting shares by 2% and rallying chip stocks. Investors await JOLTS job openings data, which could influence interest rate discussions amid ongoing uncertainty regarding Donald Trump's tariff policies.
US stock futures showed modest gains as investors reacted to Nvidia's AI announcements and awaited JOLTS job data. The S&P 500 rose 0.1%, while Dow futures increased by 0.2%. Nvidia shares climbed over 2% following the unveiling of a new AI superchip, boosting chip stocks like Micron Technology. Market participants are also focused on Donald Trump's tariff plans, with the dollar weakening. Upcoming job openings data will influence interest rate discussions ahead of Friday's crucial jobs report.
Dow futures are struggling as traders await jobs data. Nvidia shares rose 1.5% following CEO Jensen Huang's positive CES speech, while Micron Technology stock surged nearly 6% after being mentioned as a memory supplier for Nvidia. Carvana and Uber Technologies also saw gains of 4% and over 3%, respectively, with Carvana's rating upgraded and Uber collaborating with Nvidia on autonomous-driving technology.
Stocks are set to open higher, with Nvidia's shares rising following the launch of its next-generation gaming graphic cards. Micron also saw a boost after Nvidia's CEO announced that the company will supply memory for these GPUs, indicating strong collaboration in the tech sector.
UBS has lowered its price target for Micron (MU) to $125 from $135 while maintaining a Buy rating. The adjustment follows Micron's guidance, which fell short of expectations due to ongoing challenges in consumer markets. Despite this, UBS highlights positive aspects in the DRAM sector and views the current pullback as a buying opportunity, anticipating significant revenue growth ahead.
UBS has lowered its price target for Micron (MU) to $125 from $135 while maintaining a Buy rating. The firm noted that Micron's guidance fell short of expectations due to ongoing challenges in consumer markets, but highlighted positive prospects in the DRAM sector, viewing the current pullback as a buying opportunity.
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