Quick take on $MU (Micron Technology, NASDAQ: MU)
The chart above shows a few key price levels rather than a full price history, because I couldn't pull one. For a live chart, check TradingView or Yahoo Finance.
Where it stands now
MU fell 3.62% in the previous session and was down another 1.11% to about $942.60 in Wednesday's premarket.
The selloff has erased about 16% of its value since the late-September earnings report.
Even so, it had hit a high of $1,107 this month. It is still up about 234% year to date.
Why it's falling
Reports that China's CXMT claimed a DRAM breakthrough with a new data-center chip design have hit confidence in Micron's technology edge, raising fears of competition and oversupply.
Netlist has accused Micron at the U.S. ITC of infringing high-bandwidth memory patents.
Michael Burry moved from a straight short to put options, keeping a defined-risk bearish view on the AI memory cycle.
Positives
Wall Street has a Strong Buy consensus, with 27 Buys and one Hold, and an average target of about $1,622.
Micron raised its buyback authorization to $35.16 billion, with repurchases starting December 9.
Elon Musk praised its pricing approach as "reasonable" compared with other memory makers.
My read: the business is strong, but the stock has become headline-driven and volatile. The sharp drop from the high shows how sensitive it is to any sign of Chinese competition or weaker memory pricing. The average analyst target is far above the current price, but analyst targets are often wrong and can change quickly.
This is information, not financial advice, and I'm not a financial advisor. A stock this volatile can swing sharply either way, so only risk money you can afford to lose, and check the company's filings and a live chart before deciding.
#CPIWatch #TradersBetOnThreeMoreFedHikes #BastionPressesSkyAIOverSOLSales #PatrickWittExitsWhiteHouseCryptoRole #HEXFounderRichardHeartArrestedInIstanbul
The chart above shows a few key price levels rather than a full price history, because I couldn't pull one. For a live chart, check TradingView or Yahoo Finance.
Where it stands now
MU fell 3.62% in the previous session and was down another 1.11% to about $942.60 in Wednesday's premarket.
The selloff has erased about 16% of its value since the late-September earnings report.
Even so, it had hit a high of $1,107 this month. It is still up about 234% year to date.
Why it's falling
Reports that China's CXMT claimed a DRAM breakthrough with a new data-center chip design have hit confidence in Micron's technology edge, raising fears of competition and oversupply.
Netlist has accused Micron at the U.S. ITC of infringing high-bandwidth memory patents.
Michael Burry moved from a straight short to put options, keeping a defined-risk bearish view on the AI memory cycle.
Positives
Wall Street has a Strong Buy consensus, with 27 Buys and one Hold, and an average target of about $1,622.
Micron raised its buyback authorization to $35.16 billion, with repurchases starting December 9.
Elon Musk praised its pricing approach as "reasonable" compared with other memory makers.
My read: the business is strong, but the stock has become headline-driven and volatile. The sharp drop from the high shows how sensitive it is to any sign of Chinese competition or weaker memory pricing. The average analyst target is far above the current price, but analyst targets are often wrong and can change quickly.
This is information, not financial advice, and I'm not a financial advisor. A stock this volatile can swing sharply either way, so only risk money you can afford to lose, and check the company's filings and a live chart before deciding.
#CPIWatch #TradersBetOnThreeMoreFedHikes #BastionPressesSkyAIOverSOLSales #PatrickWittExitsWhiteHouseCryptoRole #HEXFounderRichardHeartArrestedInIstanbul