Even With Promising AI Hopes, Micron Has A Lot Of Work To Do
Portfolio Pulse from Upwallstreet
Micron Technology Inc (NASDAQ:MU) is promising to catch up with AI chip leader NVIDIA Corporation (NASDAQ:NVDA) and other top S&P 500 companies. Despite a 57% YoY revenue drop and a negative gross margin of 17.8%, Micron's shares rose more than 2% after it topped Q3 estimates. The company is planning to introduce its first GDDR7 new-generation memory chips in H1 2024 and several AI-related products. However, Micron's recovery may be slowed by the ongoing U.S.-China technology dispute, which puts up to half of its China revenue at risk.
July 03, 2023 | 2:57 pm
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Micron Technology Inc (NASDAQ:MU) is promising to catch up with AI chip leader NVIDIA Corporation (NASDAQ:NVDA) and other top S&P 500 companies. Despite a 57% YoY revenue drop and a negative gross margin of 17.8%, Micron's shares rose more than 2% after it topped Q3 estimates. The company is planning to introduce its first GDDR7 new-generation memory chips in H1 2024 and several AI-related products. However, Micron's recovery may be slowed by the ongoing U.S.-China technology dispute, which puts up to half of its China revenue at risk.
Micron's stock price may be impacted by its promising AI developments and new products. However, the ongoing U.S.-China technology dispute and weak market conditions may slow down its recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NVIDIA Corporation (NASDAQ:NVDA) is currently leading the AI chip market. However, Micron Technology Inc (NASDAQ:MU) is promising to catch up with new products and AI-related developments.
NVIDIA's stock price may be impacted by Micron's promising AI developments and new products. However, NVIDIA is currently leading the AI chip market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) is currently top-heavy with the 'S&P 7' riding the AI momentum. However, Micron Technology Inc (NASDAQ:MU) is promising to catch up with new products and AI-related developments.
The SPDR S&P 500 ETF Trust's price may be impacted by Micron's promising AI developments and new products. However, the 'S&P 7' are currently riding the AI momentum.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60