BUZZ-Micron slides after South Korean rival SK Hynix's warning on demand outlook
ReutersJan 23, 2025 10:20 AM
Shares of memory-chip maker Micron Technology MU.O fall 3.6% to $105.35 premarket
South Korean rival SK Hynix 000660.KS warns of steeper demand declines in commodity memory chips even as it forecast sales for its high-end semiconductors used in generative AI chipsets would more than double this year
AI chip giant Nvidia NVDA.O, a SK Hynix customer, also slips nearly 2% after rising 4.4% the prior day
Broadly, semiconductor stocks are retreating after a rally on Wednesday sparked by U.S. President Donald Trump unveiling a $500 bln dollar investment to bolster AI infrastructure
VanEck Semiconductor ETF SMH.O down 1.3% on Thursday after hitting a 6-month high in previous session
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