Micron Slips as Its Stock Boom Tops Off
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Micron Technology's shares fell 4.5% to $159.52 after its financial report failed to match the 93% increase in stock value this year. Despite beating Wall Street estimates for the fourth quarter and raising guidance for the first quarter, investor confidence waned due to the stock's previous surge. Micron anticipates $12.5 billion in revenue for the current quarter, surpassing estimates, but concerns linger about the sustainability of AI-related demand. Analysts suggest that recent increases in memory requirements may stem from over-ordering rather than genuine demand.
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