Micron Stock Is Moving Lower Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Micron Technology Inc (NASDAQ:MU) shares are trading lower after reporting Q3 earnings that beat estimates but issuing lackluster top-line guidance. Despite strong AI demand and record data center SSD revenue, the stock fell 4.49%. Analysts have raised price targets, but the market remains cautious.
June 27, 2024 | 1:19 pm
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Micron Technology Inc reported Q3 earnings that beat estimates but issued lackluster guidance, leading to a 4.49% drop in share price. Despite strong AI demand and record data center SSD revenue, the market reacted negatively. Analysts raised price targets, indicating long-term optimism.
Micron's Q3 earnings beat estimates, but the guidance was lackluster, leading to a short-term negative impact on the stock price. Despite positive long-term indicators like strong AI demand and record SSD revenue, the immediate market reaction was negative. Analysts raising price targets suggests long-term optimism, but the short-term outlook is bearish.
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