Micron

2024 - 6 - 27

Micron Stock Drops Amid Disappointing AI Revenue Forecast

AI revenue - artificial intelligence - chipmaker - Micron - Nvidia Corp - stock market

Discover why investors are concerned about Micron's AI revenue shortfall and the impact on the stock market.

Micron, a key player in the chip industry, faced a 6% premarket stock drop after failing to meet high expectations for AI revenue. The forecast for the current quarter did not impress investors, who were eagerly anticipating a significant surge that fell short. With Micron's revenue outlook for the fourth quarter pegged at $7.6 billion, the company found itself in the spotlight for not meeting lofty AI spending projections.

The post-results selloff highlighted the risks associated with excessive AI expectations, cautioning global investors about the uncertainties in betting on artificial intelligence. Micron investors were left waiting for a potential AI payoff not until 2025, sparking concerns regarding set contracts for HBM chips. Analysts raised numbers on Micron stock but advised investors to 'buy the dip,' advocating for a strategic approach amidst the market turbulence.

Following the AI revenue surge shortfall, Micron technology faced a selloff, with shares dropping to $132.6 in premarket trading, emphasizing the volatile nature of the stock market. The memory chipmaker's Q3 earnings showcased a significant revenue increase to $6.8 billion, indicative of the company's robust position amid surging AI demand.

In conclusion, a sell-off in Micron impacted the tech-driven rally, with investors closely watching economic data and stock market movements. While some may see the dip in Micron stock as a buying opportunity, uncertainty lingers over the implications on future AI investments and market trends.

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Micron stock declines after forecast fails to meet lofty AI spending ... (South China Morning Post)

Micron sells high-bandwidth memory chips that work with processors from Nvidia Corp to crunch data for artificial intelligence projects.

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Micron falls as AI revenue surge falls short of lofty expectations (Reuters)

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Micron investors will have to wait for 2025 for a bigger AI payoff (Morningstar.com)

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Micron's Selloff Highlights Risk of Sky-High AI Expectations (Yahoo Finance)

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Micron slips after muted Q4 revenue outlook (XM)

... ** Shares of memory chipmaker Micron technology MU.O drop 6.8% at $132.6 in prematket. ** On Wednesday, MU said it sees Q4 revenue of $7.6 bln, ...

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Micron tumbles as AI revenue surge falls short of lofty expectations (Yahoo Finance)

The chipmaker forecast fourth-quarter revenue of $7.6 billion, plus or minus $200 million, in line with analysts' average estimate even as the company said ...

Q3 2024 Micron Technology Inc Earnings Call (Yahoo Eurosport UK)

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Image courtesy of "Bloomberg"

Micron's Selloff, Bill Gates Interview | Bloomberg The Pulse 06/27/24 (Bloomberg)

Micron technology, the largest US maker of computer memory chips declined in premarket trading after its forecast disappointed investors seeking a bigger ...

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US Futures Slip Ahead of Data as Micron Plunges: Markets Wrap (Yahoo Finance)

(Bloomberg) -- US equity-index futures slipped ahead of economic data that will help set the path for Federal Reserve policy, while Micron Technology Inc.'s ...

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Micron revenues soar amid surging AI demand – Blocks and Files (Blocks and Files)

Revenue for Q3 of Micron's fiscal 2024 ended May 30 was $6.8 billion, beating its guidance and contrasting with the year-ago $3.8 billion when the memory market ...

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Futures edge lower as Micron drags chip stocks down ahead of data (Reuters)

U.S. stock index futures slipped on Thursday as a slump in Micron Technology after a lackluster forecast dragged down other semiconductor stocks, ...

Analysts raise numbers on Micron stock, urge investors to buy the dip (Yahoo Finance)

Shares in AI memory chipmaker Micron (NASDAQ:MU) fell sharply in premarket trading Thursday after the company unveiled its earnings results for the fiscal ...

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Stock market today: US futures slip as Micron slides, with data on deck (Yahoo Finance)

A sell-off in Micron put a dent in the AI bullishness that has fueled the tech-driven rally, as investors eye fresh economic data.

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Dow Jones Futures: Micron Falls On Earnings; Tesla, Amazon In ... (Investor's Business Daily)

Dow Jones futures: The stock market edged up Wednesday with Tesla and Amazon breaking out. Micron tumbled on earnings.

Micron Releases 2024 Sustainability Report Highlighting Progress ... (Micron Investor Relations)

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