Micron (MU) and SK Hynix (SKHY) Face AI Backlash 👎🙏🥸
Buying the dip now, both Micron (MU) and SK Hynix (SKHY) likely to dip further towards the $880 mark.
Micron shares were down 4.4% at $873.70 in premarket trading. A slide that began at the start of the week on news that China's CXMT was developing a new memory chip has been compounded by fears about the wider AI trade.
South Korean memory companies Samsung Electronics and SK Hynix were even harder hit, dropping 9.5% and 11%, respectively, in local trading on Thursday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
