Why Micron Stock Keeps Going Down
Micron stock has fallen for six straight trading sessions after the company reported earnings. Morgan Stanley believes the sell-off may be a buying opportunity, as demand for Micron's high-bandwidth memory chips may prove stronger than expected.
Micron stock has been sliding since reporting earnings. The decline began after Alphabet developed new compression technology that reduces memory size. Morgan Stanley thinks the sell-off may be a buying opportunity, citing strong demand for Micron's chips. Memory is a bottleneck for expanding AI capacity, and customers are pre-paying for deliveries. This may drive prices and profits higher. At a valuation of less than 8x forward earnings, Micron stock is considered too cheap to ignore.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.