10 AI News Investors Shouldn’t Miss

2. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 107

Micron Technology, Inc. (NASDAQ:MU) is a US-based innovative memory and storage solutions provider. On December 19, Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Micron (MU) to $98 from $114 and kept an “Equal Weight” rating on the shares. The analyst noted that the company guided Q2 revenue below expectations, which is driven largely by a revenue decline in NAND. The company has projected fiscal second-quarter revenue of $7.9 billion, below the analyst consensus of $8.93 billion compiled by Visible Alpha. Consequently, the analyst has lowered estimates and anticipates that AI growth is likely to be weighed down by commodity weakness.