Why Did Micron Stock Drop Today?
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Micron Technology's stock dropped 5.2% due to Samsung's announcement of price cuts on its High Bandwidth Memory 3 Enhanced (HBM3E). This price reduction is a response to oversupply in the HBM market and competition with Nvidia. Micron faces a dilemma: it must lower its prices to compete or risk losing market share, which could significantly impact its revenue and profits. Analysts warn that this price war may diminish the premium on HBM3E, making Micron's stock appear overvalued if profits decline.
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