Why Micron Technology Shares Are Falling
Portfolio Pulse from Henry Khederian
Micron Technology Inc (NASDAQ:MU) shares fell by 2.7% amid a broader decline in semiconductor and chip stocks, influenced by rising Treasury yields and a negative reaction to the Netherlands' decision to restrict exports of certain lithography systems to China by ASML Holding. The sector's pullback also follows gains earlier in 2023. ASML's shares dropped due to these export limitations, which are in line with U.S. policies and require Dutch firms to obtain government permission to export specific chip-making equipment.
January 02, 2024 | 6:43 pm
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Micron Technology's stock fell by 2.7% due to broader sector declines influenced by rising Treasury yields and the Netherlands' export restrictions affecting ASML, a key player in the semiconductor industry.
Micron Technology's stock is likely to experience short-term negative pressure due to the overall downturn in the semiconductor sector, which is reacting to macroeconomic factors like rising Treasury yields and regulatory decisions impacting key industry players like ASML.
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