Should You Buy Micron Technology Stock Before June 24, or Is the Semiconductor Sell-Off About to Get Worse?
The artificial intelligence infrastructure boom just hit some turbulence.
Should You Buy Micron Technology Stock Before June 24, or Is the Semiconductor Sell-Off About to Get Worse?
Overview
Micron Technology (NASDAQ: MU) is one of the world's leading suppliers of high-bandwidth memory (HBM) for data centers, an essential component in the artificial intelligence (AI) hardware stack. HBM is in short supply right now, so Micron has the power to dictate prices, which is fueling a surge in the company's revenue and earnings.
Micron stock is up by nearly 700% over the past year, but it plummeted 20% from its all-time high last week after semiconductor supplier Broadcom issued a conservative forecast for its future AI sales. This made Wall Street nervous about a potential slowdown in hardware demand.
Details
On June 24, Micron will release its latest quarterly operating results, which will give the Street some additional perspective. Should investors buy the stock ahead of the report, or is more downside potentially ahead?
Source
Originally published at www.fool.com.
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