What's Going On With Micron's Stock?
Portfolio Pulse from Erica Kollmann
Micron Technologies' stock is experiencing volatility due to a combination of factors including a lowered price target by Morgan Stanley, softer demand for Apple's iPhone 16, and the launch of a new SSD product. Despite recent losses, the stock is showing a slight recovery.
September 17, 2024 | 3:50 pm
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NEUTRAL IMPACT
Micron Technologies' stock is recovering slightly after a significant drop due to a lowered price target by Morgan Stanley and softer demand for Apple's iPhone 16. The launch of a new SSD product could provide a positive catalyst.
Micron's stock was negatively impacted by a price target cut from Morgan Stanley and weaker demand for Apple's iPhone 16, which uses Micron chips. However, the announcement of a new SSD product could help stabilize or improve the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Apple's iPhone 16 series is seeing softer demand compared to the iPhone 15, which could impact suppliers like Micron. This may affect Apple's stock performance if demand does not pick up.
The softer demand for the iPhone 16 series could negatively impact Apple's stock as it may affect sales and revenue expectations. This also impacts suppliers like Micron, which provides memory chips for the iPhone.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50