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Markets · Investing · Business
Finance
Why Micron Technology Stock Surged 16.5% Last Month
Micron is up more than 250% year to date, and it's set to release a crucial quarterly report at the end of September.
After facing valuation pressures in July, Micron(NASDAQ: MU) stock came bounding back in August's trading. The company's share price rose 16.5% in the month, according to data from S&P Global Market Intelligence. Meanwhile, the S&P 500 gained 2.6%, and the Nasdaq Composite was up 3.9%.
August saw rebound trading for Micron and the broader artificial intelligence (AI) hardware market, with strong quarterly results from Nvidia helping to spur valuation recovery in the space. As of this writing, Micron stock is up roughly 256% year to date -- but it's also still down 16% from its high.
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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.
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