Why Micron Stock Is Soaring Today
Micron Technology (NASDAQ: MU) stock is posting big gains in Tuesday's trading. The memory chip and storage solutions company's share price was up 7.1% as of 2:30 p.m. ET. Meanwhile, the S&P 500 index was down 0.1%, and the Nasdaq Composite index was down 0.4%.Micron's valuation is getting a big boost following a recent report that the company is ramping up its production of key components for Nvidia. The stock is also rising higher today in conjunction with news that the company is teaming up with Nvidia on another project and a new product announcement.A recent report from Business Korea suggests that Micron is increasing its production of high-bandwidth-memory (HBM) solutions for Nvidia. Micron's 12-stack HBM3E solution is said to offer best-in-class performance, with 20% lower power consumption and 50% higher memory capacity compared to 8-stack offerings from competitors.Continue reading
Micron Technology (NASDAQ: MU) stock is posting big gains in Tuesday's trading. The memory chip and storage solutions company's share price was up 7.1% as of 2:30 p.m. ET. Meanwhile, the S&P 500 index was down 0.1%, and the Nasdaq Composite index was down 0.4%.
Micron's valuation is getting a big boost following a recent report that the company is ramping up its production of key components for Nvidia. The stock is also rising higher today in conjunction with news that the company is teaming up with Nvidia on another project and a new product announcement.
A recent report from Business Korea suggests that Micron is increasing its production of high-bandwidth-memory (HBM) solutions for Nvidia. Micron's 12-stack HBM3E solution is said to offer best-in-class performance, with 20% lower power consumption and 50% higher memory capacity compared to 8-stack offerings from competitors.
