Broadcom shares slump as revenue target disappoints investors hoping for big AI boost [Yahoo! Finance]
Micron Technology, Inc. (MU)
Last micron technology, inc. earnings: 3/25 04:01 pm
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Source: Yahoo! Finance
revenue forecast spooked investors betting on robust demand for AI chips to drive strong growth. Chipmakers are bearing the brunt of Wall Street's lofty expectations after a months-long rally in the shares of semiconductor firms, as investors bet heavily on the hardware that supports generative AI technology. Broadcom posted big declines in revenues from its broadband and non-AI networking divisions on Thursday, while a hike in its forecast for AI chip sales failed to impress growth-hungry investors who have driven a more than 35% increase in its shares so far this year. The drop in Broadcom's shares stems from "the lack of upside in estimates... and outlook in AI revenue... along with lackluster semiconductor segment revenue," said CFRA Research analyst Angelo Zino. While the company increased its sales forecast for AI chips by $1 billion for the fiscal year ending October to $12 billion, the boost was in line with widespread expectations, Zino said. Broadcom is set to lose
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News
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- Micron sees price target cut, while Morgan Stanley turns 'Cautious' on S. Korean tech sector Sep. 16, 2024 9:17 AM ET By: Ravikash Bakolia , SA News Editor [Seeking Alpha]Seeking Alpha
- Micron Technology, Inc. (NASDAQ: MU) had its price target lowered by analysts at Morgan Stanley from $140.00 to $100.00. They now have an "equal weight" rating on the stock.MarketBeat
MU
Earnings
- 6/26/24 - Beat
MU
Sec Filings
- 8/12/24 - Form 4
- 8/7/24 - Form 8-K
- 7/23/24 - Form 4
- MU's page on the SEC website