MU
MICRON TECHNOLOGY INCA9315-min delayed · EOD closeSemiconductors & Related Devices · SIC 3674 · CIK 0000723125
Micron rallies post-earnings while Apple slides; US indices trade mixed
AASTOCKS reported US benchmark indices traded mixed midday Thursday as Apple shares came under pressure while Micron surged following its earnings report, with investors also digesting a batch of economic data. The Nasdaq was down 0.5% in midday trading despite Micron's post-earnings jump.
Confirms Micron's post-earnings strength was a standout in an otherwise soft, Apple-pressured market session.
Reported by AASTOCKS Financial News
Micron surges up to 19% on results but fails to lift tech sector amid hot inflation data
AASTOCKS reported Micron rose as much as 19% intraday and was up nearly 16%, among the best performers in the S&P 500 and Nasdaq, after adjusted fiscal Q3 earnings and revenue beat estimates and fiscal Q4 guidance topped expectations. Despite Micron's strength, the Nasdaq slipped 0.1% to 25,445.9 while the S&P 500 gained 0.4%, as the report cited PCE inflation accelerating to 4.1% year-over-year (core 3.4%), keeping the broader tech sector under pressure.
Micron decoupled from a weak tape, demonstrating company-specific strength even as macro inflation capped the rest of tech.
Reported by AASTOCKS Financial News
- MU-5.0%