Falling more than 16% after results! Micron Technology's guidance is far below expectations, and analysts have lowered their target prices
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Despite the growing demand for AI chips, Micron Technology's stock price plummeted by more than 16% on Thursday due to lowerthanexpected guidance , evaporating its total market value by $18.72 billion about RMB 136.6 billion.
It is reported that Micron Technology is the world's third largest germany phone number list semiconductor memory company, mainly providing highperformance DRAM dynamic random access memory and NAND a nonvolatile memory products, which are widely used in mobile phones, computers, servers, AI, automobiles, industry, medical and other fields.
On December 18, local time, Micron Technology announced its first quarter results for fiscal year . its first quarter performance report
The report shows that despite the continued weakness in the global consumer market, the strong demand for data centers driven by AI has enabled the company to achieve record quarterly revenue performance, with data center revenue accounting for more than 50% of its overall revenue for the first time.