UPDATE 2-Semiconductor shares rise as Micron predicts memory recovery [Reuters (UK)]
Micron Technology, Inc. (MU)
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Source: Reuters
Semiconductor shares rise as Micron predicts memory recovery | Reuters 3 Min Read (Reuters) - Shares of semiconductor companies worldwide rose on Thursday, after U.S. chipmaker Micron Technology Inc predicted a recovery in a memory market saddled with oversupply as demand for mobile phones slows. Stocks in chipmakers have been pummelled in the last six months as demand for Apple’s iPhones declined and prices for DRAM and NAND memory chips sank due to an oversupply, adding to concerns that a two-year-long semiconductor upswing was coming to a halt. Micron’s remarks came as it reported quarterly earnings above analysts’ estimates on Wednesday as cost-cutting helped offset falling demand and prices. A chip recovery will likely be fueled by fresh investments from data center customers and more memory content in phones, according to JPMorgan analysts. Micron’s shares rose 8.7 percent on Thursday morning. Shares in Advanced Micro Devices Inc and Nvidia Corp rose 2 percent, while Qualcomm In
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- Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants [The New York Times]The New York Times
- Biden to announce preliminary deal with Micron for up to $6.14 bln in chip grants [Reuters]Reuters
- Micron, Biden-Harris Administration, U.S. Senate Majority Leader Schumer Announce $6.1B in CHIPS and Science Act Funding for Historic Planned Investment in Domestic Leading-Edge Memory Manufacturing in Idaho and New YorkGlobeNewswire
- Biden to announce preliminary deal with Micron for up to $6.14 billion in chip grants [Yahoo! Finance]Yahoo! Finance
- As Biden celebrates computer chip factories, voters wait for the promised production to start [Yahoo! Finance]Yahoo! Finance
MU
Earnings
- 3/20/24 - Beat
MU
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- 4/23/24 - Form 4
- 4/22/24 - Form 4
- 4/19/24 - Form 8-K
- MU's page on the SEC website