Why Micron Stock Dropped Today
Micron's larger competitor threatens to upset the market for DRAM supply.
Overview
Micron (NASDAQ: MU) stock slid 3.9% through 11:05 a.m. ET as investors caught a case of the Mondays -- and resumed worrying about the durability of high prices for memory chips used in the artificial intelligence industry.
Image source: Micron.
South Korea's SK Hynix (NASDAQ: SKHY), now trading on Nasdaq as an American Depositary Receipt, is the likely catalyst for today's decline in Micron's price. SK shares soared 14% on their Nasdaq debut before turning tail this morning and selling off by more than 6%. Micron stock is following SK stock lower, and it's not too hard to understand why.
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.