Micron Shares Drop 4.2% as China’s AI Chips Raise HBM Prices
Micron Technology fell about 4.2% to $984.62 as a global high-bandwidth-memory crunch boosted suppliers’ pricing power. Chinese AI-chip makers reportedly lifted prices, with Huawei’s upcoming Ascend accelerator expected to cost 20% to 50% more. Micron’s fiscal third-quarter revenue rose to $41.46 billion from $9.30 billion, with adjusted free cash flow of $18.3 billion, and management guided to about $50 billion in fourth-quarter revenue and ~86% adjusted gross margin.