What's Going On With Micron (MU) Stock?
Portfolio Pulse from Henry Khederian
Micron Technology Inc (NASDAQ:MU) shares remained flat on Monday after a 14% gain last week, driven by strong U.S. retail sales and a drop in jobless claims. The increase in electronics sales suggests higher demand for Micron's products. Lower-than-expected inflation data may lead to significant interest rate cuts, potentially benefiting Micron.
August 19, 2024 | 7:42 pm
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Micron Technology's stock is flat after a 14% gain last week, supported by strong U.S. retail sales and a drop in jobless claims. The increase in electronics sales suggests higher demand for Micron's memory and storage products. Easing inflation may lead to interest rate cuts, potentially benefiting Micron.
The strong U.S. retail sales data, particularly in electronics, suggests increased demand for Micron's products. Additionally, easing inflation could lead to interest rate cuts, reducing borrowing costs and potentially stimulating economic growth, which is positive for Micron.
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