Micron Technology shares are trading lower in possible sympathy with the broader semiconductor industry. Also, Morgan Stanley lowered its price target on the stock from $140 to $100.
Portfolio Pulse from Benzinga Newsdesk
Micron Technology shares are trading lower, potentially due to broader semiconductor industry trends. Morgan Stanley has also reduced its price target for Micron from $140 to $100.
September 16, 2024 | 4:42 pm
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NEGATIVE IMPACT
Micron Technology's stock is experiencing a decline, possibly influenced by the overall semiconductor market. Additionally, Morgan Stanley has reduced its price target for the company from $140 to $100, which may further pressure the stock.
The reduction in price target by Morgan Stanley is a direct negative signal for investors, likely leading to a decrease in stock price. Additionally, the broader semiconductor industry trends may be contributing to the decline, compounding the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100