Micron's 29% Drop Has Nothing to Do With Fundamentals
Micron's stock has dipped recently amid unjustified AI fears and a margin unwind.
Overview
Micron Technology (NASDAQ: MU) stock has shed close to 29% of its value over the past month, but it has nothing to do with fundamentals. The tailwinds of the memory cycle remain intact, and each day further proves that AI demand is rising. The current dip presents a compelling buying opportunity that may not be around much longer.
Image source: Getty Images.
Moonshot AI's large language model product Kimi AI recently shared an X post that enhanced Micron's bullish thesis. The Chinese company explained that it can no longer take on new customers for its open source LLM because it has run out of available compute. This decision was made to "protect the experience of existing subscribers."
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Originally published at www.fool.com.