Micron slumps as bleak quarterly forecast clouds AI-related boost
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Micron Technology's shares dropped 15% in premarket trading due to a poor quarterly forecast, driven by weak demand for PCs and smartphones, despite strong sales of AI-related chips.
December 19, 2024 | 11:45 am
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Micron Technology's stock fell 15% in premarket trading due to a disappointing quarterly forecast. The company faces challenges from weak demand in PCs and smartphones, despite strong AI chip sales.
The 15% drop in Micron's stock price is directly linked to the company's poor quarterly forecast, which highlighted weak demand in key markets like PCs and smartphones. This negative outlook overshadowed the positive impact of AI-related chip sales, leading to a significant negative impact on the stock price.
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