Why Micron Technology Stock Is Sinking Today

Shares of Micron Technology (NASDAQ: MU) were slipping Thursday. The firm's stock is down 2.9% as of 1:25 p.m. ET, but lost as much as 5.4% earlier in the day. The move down comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.3% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 0.1%.Despite news of a new artificial intelligence (AI) initiative from the Trump administration, Micron shares were hurt by its rivals' recent earnings report.Micron is a semiconductor firm specializing in memory, supplying Nvidia with the high-bandwidth memory (HBM) components necessary to build Nvidia's AI-powering Superchips. The relationship is not exclusive, however. Among Micron's rival Nvidia suppliers is SK Hynix. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool