Some Investors Are Panicking About Memory Stocks. Micron Shareholders Should Keep a Cool Head.
Micron investors have every reason to be bullish on the stock.
Overview
Shares of chipmaker SK Hynix (NASDAQ: SKHY) plunged after the company reported second-quarter results that fell short of the near-impossible expectations set by investors and analysts.
The company's sales surged 257% to $54.5 billion, and operating profit skyrocketed 557% to $41.7 billion. Wall Street's average estimate anticipated more.
Details
SK Hynix shares plummeted on the news, and they grabbed fellow chipmaker Micron Technology (NASDAQ: MU) on its way down, pulling Micron stock lower.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.