Chipmaker Micron’s sell-off shows risk of sky-high AI expectations

Quick Summary:

Chipmaker's shares punished for not outperforming elevated expectations.

Micron shares are priced at 4.5 times sales projected over the next 12 months, compared with an average of 2.2 times over the past 10 years.Micron poised to get $8.

Momentum in the global AI frenzy took a hit earlier this week when Nvidia shares entered correction territory on June 24 before bouncing back.

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Category: EconomyBusiness

Markets: SingaporeHong KongJapanSouth Korea

Topics: Outperforming Months Micron Expectations Memory Estimates Fell Global Shares June Hynix

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-27 @ 11:17:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 559 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 21398395

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