The all-encompassing tech selloff that pushed the Nasdaq index 5% lower last week has done even worse with Micron Technology (MU). The stock took an 8% plunge last week and now stands 44% lower from its 52-week high. Despite the company performing well in recent quarters and posting solid numbers, MU stock is falling and…
By Rishi Kant (Reuters) – Micron Technology forecast quarterly revenue and profit below Wall Street estimates on Wednesday, sending shares lower as weak demand for consumer-centric products such as personal computers and smartphones impacts the chipmaker’s business. The market for dynamic random-access memory (DRAM) chips, which account for most of Micron’s revenue, remains sluggish because…
China’s efforts to develop home-grown artificial intelligence (AI) semiconductors are facing fresh setbacks as the US prepares to implement new rules restricting South Korean exports of advanced memory chips to Chinese companies. The mainland would find itself in a difficult position if the supply of high-bandwidth memory (HBM) chips from South Korea is cut off…
By Heekyong Yang, Hyunjoo Jin and Joyce Lee SEOUL (Reuters) -South Korea’s SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier booked strong sales of its advanced chips, and said demand for high-bandwidth memory (HBM) chips would continue to outpace supply next year. The company played down market concerns about an…
By Arsheeya Bajwa (Reuters) – Micron Technology surged 15% on Thursday in premarket trading, leading a rally in chip stocks after its strong revenue forecast signaled robust demand for semiconductors used to power generative AI technology. The company, whose high-bandwidth memory chips (HBM) are used in Nvidia’s popular artificial intelligence processors, was set to add…