Micron Shares Slipping 8% After Hours 'Bad News' But 'Good News' Is The AI Trade Is Intact, Says Gene Munster

Quick Summary:

What Happened: Munster on X, pointed out that the pressure point of High Bandwidth Memory revenue, which accounts for 2% of the total revenue, is lower than in previous quarters.

He predicted a 10-15% increase in HBM revenue for the next year.“Good news is the AI trade is intact,” he said.

Micron Technology Inc.(NASDAQ:MU) experienced a significant drop of nearly 8% in after-hours trading, following its latest earnings report.

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Category: Technology

Markets: United States

Topics: Equities Gene Munster Kaustubh Bagalkote Deepwater Asset Management Tech US5951121038 Benzinga News Global MU Analyst Color Markets

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Article Type: News Report

Published On: 2024-06-27 @ 03:46:37 (3 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

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Article Length: 385 words

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