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Micron Technology Inc (NASDAQ:MU) shares are trading lower by 4.6% to $93.36 during Wednesday’s session amid weakness in semiconductor and chip stocks. The sector may be under pressure as SMCI falls following a short report and delay in its 10-K. NVIDIA Corp is also expected to report quarterly earnings after the close.
What To Know: NVIDIA’s upcoming second-quarter earnings report is highly anticipated and could significantly impact the semiconductor industry. Analysts expect strong results, forecasting earnings of 64 cents per share on $28.68 billion in revenue, marking a substantial increase from the previous year.
NVIDIA’s stock, already up 160% this year, could rise further if the results surpass expectations and the company offers a positive outlook for AI accelerators.
Why SMCI Updates Matter: The delay in Super Micro Computer’s annual report filing and the serious allegations of financial misconduct could cause market uncertainty and concern about the tech sector, affecting AMD’s stock.
Given Super Micro’s role as a significant partner in the AI and HPC markets, any disruption could impact AMD’s business. Additionally, negative sentiment might spill over to AMD due to its association with Super Micro.
Increased competition from companies like Dell and Amazon, highlighted in the short report, could further pressure AMD’s market position.
Read Also: 10 ETFs Poised For Wild Swings Following Nvidia Earnings
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Micron Technology’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, MU has a 52-week high of $157.54 and a 52-week low of $63.83.
Posted In: MU
