Why Did Micron Stock Bounce Back Today?
Nvidia has a new favorite AI memory chips provider, and it could be bad news for Micron.
Why Did Micron Stock Bounce Back Today?
Overview
Micron (NASDAQ: MU) stock got caught in an epic sell-off last week as semiconductor chip stocks lost $1 trillion in market capitalization. Micron crashed 13.5% Friday -- but today it's bouncing back.
Shares of the computer memory specialist gained 6.9% through 10:20 a.m. ET Monday, and investors may have Nvidia (NASDAQ: NVDA) CEO Jensen Huang to thank for this. As StreetInsider.com reports, Huang says we are still just at "the outset of the AI revolution," which has more room to run.
Image source: Micron.
Details
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.
