💨 Abstract

Micron's shares dropped 8% as the company forecast lower profit margins due to reduced pricing for consumer memory chips and oversupply. The decline came despite a strong quarterly revenue outlook driven by demand for its AI-focused semiconductors. Micron, one of the few providers of high-bandwidth memory (HBM) chips for AI applications, is facing margin pressure due to increased production to meet demand from companies like Nvidia.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖